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Basic goods that are interchangeable with others of the same type in commerce.

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Commodities are standardized goods used in commerce that are essentially interchangeable with other goods of the same type. They are typically raw materials like metals, energy, or agricultural products. These goods are traded on commodities exchanges and have to meet specified quality and basic grade standards. Prices for commodities can be affected by a variety of factors, including supply and demand dynamics, geopolitical events, and natural disasters.
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