{
    "term": "commodity",
    "partOfSpeech": "noun",
    "academic": true,
    "ox5000": true,
    "cefr": "c1",
    "definitions": [
        {
            "senseNumber": 1,
            "definition": "a product or a raw material that can be bought and sold",
            "labels": "(economics)",
            "cefr": "c1",
            "examples": [
                {
                    "text": "rice, flour and other basic commodities"
                },
                {
                    "text": "a drop in commodity prices"
                },
                {
                    "text": "Crude oil is the world's most important commodity."
                },
                {
                    "text": "basic agricultural commodities"
                }
            ],
            "topics": ["Business", "Money"],
            "collocations": {
                "adjective": ["basic", "important", "primary"],
                "verb + commodity": ["produce"],
                "commodity + noun": ["market", "exchange", "futures"],
                "phrases": ["trade in commodities"]
            }
        },
        {
            "senseNumber": 2,
            "definition": "a thing that is useful or has a useful quality",
            "labels": "(formal)",
            "cefr": "c1",
            "examples": [
                {
                    "text": "Water is a precious commodity that is often taken for granted in the West."
                },
                {
                    "text": "Time is a very valuable commodity."
                }
            ],
            "collocations": {
                "adjective": ["hot", "precious", "valuable"]
            }
        }
    ],
    "pronunciations": {
        "uk": [
            {
                "pronunciation": "/kəˈmɒdəti/",
                "audio": "co/commodity/commodity__gb_3.mp3"
            }
        ],
        "us": [
            {
                "pronunciation": "/kəˈmɑːdəti/",
                "audio": "co/commodity/commodity__us_1.mp3"
            }
        ]
    },
    "wordOrigin": "late Middle English: from Old French commodite or Latin commoditas, from commodus ‘convenient’."
}