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commodity |
Also found in: Financial, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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A tangible item that may be bought or sold; something produced for commerce. Commodities are defined as marketable goods or wares, such as raw or partially processed materials, farm products, or jewelry. Intangibles, such as human labor, services, or advertising, are generally not considered to be commodities. See also: appliance, chattel, item, object, product How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The good news is that in a mature market with highly homogeneous products, well executed small differences can make you unique. The third party works with an OEM's supply chain partners to test homogeneous products and provide ongoing surveillance of processes to help the OEM declare compliance. In the special case of homogeneous products with constant marginal cost, r = -1 for the Bertrand equilibrium as well [2, 937]. |
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