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What is a commodity?

What is a commodity? Here are some definitions.

Noun
  1. (obsolete) Convenience; usefulness, suitability. [15th-19th c.]
  2. Anything movable (a good) that is bought and sold. [from 15th c.]
  3. Something useful or valuable. [from 15th c.]
  4. (obsolete) Self-interest; personal convenience or advantage. [16th-19th c.]
  5. (economics) Raw materials, agricultural and other primary products as objects of large-scale trading in specialized exchanges.
  6. (marketing) Undifferentiated goods characterized by a low profit margin, as distinguished from branded products.
  7. (Marxism) Anything which has both a use-value and an exchange-value.
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