Many people don't realize that oil is a fungible commodity.
Many people don't realize that oil is a fungible commodity.
English
commodity
kəˈmɑdəti, kəˈmɑː.də.t̬i, kəˈmɒdəti
Meaning: a raw material or primary product that can be bought and sold
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Example sentences
Coffee is one of the most traded commodities in the world.
Coffee is one of the most traded commodities in the world.
Usage Notes
Often refers to goods like oil, grain, or metals. Figuratively, it can mean any useful or valuable thing (e.g., 'Time is a precious commodity').
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