3 Questions
What is a commodity?
A basic good that is interchangeable with other goods of the same type
Based on the text, which of the following statements about commodities is true?
Commodities can be traded on a market
From the information provided, what is a characteristic of commodities?
Commodities can be bought and sold
Study Notes
What is a Commodity?
- A commodity is a generic term for a physical good or service that can be bought, sold, or traded
- Commodities are interchangeable with other products of the same type
Characteristics of Commodities
- A characteristic of commodities is that they are interchangeable with other products of the same type
Test your knowledge about commodities with this quiz! Learn about the definition of commodities and discover their characteristics. Find out which statements about commodities are true based on the given information.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
