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<span>Description</span> </div> </a> <button aria-controls="toc-Description-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Description subsection</span> </button> <ul id="toc-Description-sublist" class="vector-toc-list"> <li id="toc-Characteristics" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Characteristics"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.1</span> <span>Characteristics</span> </div> </a> <ul id="toc-Characteristics-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Hard_and_soft_commodities" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Hard_and_soft_commodities"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2</span> <span>Hard and soft commodities</span> </div> </a> <ul id="toc-Hard_and_soft_commodities-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Commoditization" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Commoditization"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Commoditization</span> </div> </a> <ul id="toc-Commoditization-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Global_commodities_trading_company" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Global_commodities_trading_company"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Global commodities trading company</span> </div> </a> <ul id="toc-Global_commodities_trading_company-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Commodity_trade" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Commodity_trade"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Commodity trade</span> </div> </a> <ul id="toc-Commodity_trade-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Inventory_data" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Inventory_data"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Inventory data</span> </div> </a> <ul id="toc-Inventory_data-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Commodification_of_labour" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Commodification_of_labour"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Commodification of labour</span> </div> </a> <ul id="toc-Commodification_of_labour-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Commodity_Super_Cycle" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Commodity_Super_Cycle"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Commodity Super Cycle</span> </div> </a> <button aria-controls="toc-Commodity_Super_Cycle-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Commodity Super Cycle subsection</span> </button> <ul id="toc-Commodity_Super_Cycle-sublist" class="vector-toc-list"> <li id="toc-History_of_Super_Cycles" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#History_of_Super_Cycles"> <div class="vector-toc-text"> <span class="vector-toc-numb">8.1</span> <span>History of Super Cycles</span> </div> </a> <ul id="toc-History_of_Super_Cycles-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>Notes</span> </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Commodity</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 45 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-45" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">45 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%B3%D9%84%D8%B9%D8%A9_%D8%A3%D8%B3%D8%A7%D8%B3%D9%8A%D8%A9" title="سلعة أساسية – Arabic" lang="ar" hreflang="ar" data-title="سلعة أساسية" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%AA%E0%A6%A3%E0%A7%8D%E0%A6%AF" title="পণ্য – Bangla" lang="bn" hreflang="bn" data-title="পণ্য" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%9A%D0%BE%D0%BC%D0%BE%D0%B4%D0%B8%D1%82%D0%B8" title="Комодити – Bulgarian" lang="bg" hreflang="bg" data-title="Комодити" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-br mw-list-item"><a href="https://br.wikipedia.org/wiki/Marc%27hadourezh" title="Marc'hadourezh – Breton" lang="br" hreflang="br" data-title="Marc'hadourezh" data-language-autonym="Brezhoneg" data-language-local-name="Breton" class="interlanguage-link-target"><span>Brezhoneg</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Mercaderia" title="Mercaderia – Catalan" lang="ca" hreflang="ca" data-title="Mercaderia" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Komodita" title="Komodita – Czech" lang="cs" hreflang="cs" data-title="Komodita" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-cy mw-list-item"><a href="https://cy.wikipedia.org/wiki/Cynwydd" title="Cynwydd – Welsh" lang="cy" hreflang="cy" data-title="Cynwydd" data-language-autonym="Cymraeg" data-language-local-name="Welsh" class="interlanguage-link-target"><span>Cymraeg</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Handelsvare" title="Handelsvare – Danish" lang="da" hreflang="da" data-title="Handelsvare" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Handelsware" title="Handelsware – German" lang="de" hreflang="de" data-title="Handelsware" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Materia_prima_(econom%C3%ADa)" title="Materia prima (economía) – Spanish" lang="es" hreflang="es" data-title="Materia prima (economía)" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Varo" title="Varo – Esperanto" lang="eo" hreflang="eo" data-title="Varo" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%DA%A9%D8%A7%D9%84%D8%A7%DB%8C_%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%DB%8C" title="کالای اقتصادی – Persian" lang="fa" hreflang="fa" data-title="کالای اقتصادی" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Commodit%C3%A9" title="Commodité – French" lang="fr" hreflang="fr" data-title="Commodité" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%83%81%ED%92%88" title="상품 – Korean" lang="ko" hreflang="ko" data-title="상품" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%AA%E0%A4%A3%E0%A5%8D%E0%A4%AF" title="पण्य – Hindi" lang="hi" hreflang="hi" data-title="पण्य" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Komoditas" title="Komoditas – Indonesian" lang="id" hreflang="id" data-title="Komoditas" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Commodity" title="Commodity – Italian" lang="it" hreflang="it" data-title="Commodity" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%A1%D7%97%D7%95%D7%A8%D7%94" title="סחורה – Hebrew" lang="he" hreflang="he" data-title="סחורה" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%91%D0%B8%D1%80%D0%B6%D0%B0%D0%BB%D1%8B%D2%9B_%D1%82%D0%B0%D1%83%D0%B0%D1%80" title="Биржалық тауар – Kazakh" lang="kk" hreflang="kk" data-title="Биржалық тауар" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target"><span>Қазақша</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/%C3%81rucikk" title="Árucikk – Hungarian" lang="hu" hreflang="hu" data-title="Árucikk" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%A1%D1%82%D0%BE%D0%BA%D0%B0_(%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%98%D0%B0)" title="Стока (економија) – Macedonian" lang="mk" hreflang="mk" data-title="Стока (економија)" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Komoditi" title="Komoditi – Malay" lang="ms" hreflang="ms" data-title="Komoditi" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Commodity" title="Commodity – Dutch" lang="nl" hreflang="nl" data-title="Commodity" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%82%B3%E3%83%A2%E3%83%87%E3%82%A3%E3%83%86%E3%82%A3" title="コモディティ – Japanese" lang="ja" hreflang="ja" data-title="コモディティ" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Vare" title="Vare – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Vare" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-nn mw-list-item"><a href="https://nn.wikipedia.org/wiki/Vare" title="Vare – Norwegian Nynorsk" lang="nn" hreflang="nn" data-title="Vare" data-language-autonym="Norsk nynorsk" data-language-local-name="Norwegian Nynorsk" class="interlanguage-link-target"><span>Norsk nynorsk</span></a></li><li class="interlanguage-link interwiki-pa mw-list-item"><a href="https://pa.wikipedia.org/wiki/%E0%A8%9C%E0%A8%BF%E0%A8%A8%E0%A8%B8" title="ਜਿਨਸ – Punjabi" lang="pa" hreflang="pa" data-title="ਜਿਨਸ" data-language-autonym="ਪੰਜਾਬੀ" data-language-local-name="Punjabi" class="interlanguage-link-target"><span>ਪੰਜਾਬੀ</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Towar_handlowy" title="Towar handlowy – Polish" lang="pl" hreflang="pl" data-title="Towar handlowy" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Commodity" title="Commodity – Portuguese" lang="pt" hreflang="pt" data-title="Commodity" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-qu mw-list-item"><a href="https://qu.wikipedia.org/wiki/Purun_imayay_(qullqikamay)" title="Purun imayay (qullqikamay) – Quechua" lang="qu" hreflang="qu" data-title="Purun imayay (qullqikamay)" data-language-autonym="Runa Simi" data-language-local-name="Quechua" class="interlanguage-link-target"><span>Runa Simi</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%91%D0%B8%D1%80%D0%B6%D0%B5%D0%B2%D0%BE%D0%B9_%D1%82%D0%BE%D0%B2%D0%B0%D1%80" title="Биржевой товар – Russian" lang="ru" hreflang="ru" data-title="Биржевой товар" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Commodity" title="Commodity – Simple English" lang="en-simple" hreflang="en-simple" data-title="Commodity" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Komodita" title="Komodita – Slovak" lang="sk" hreflang="sk" data-title="Komodita" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Blago" title="Blago – Slovenian" lang="sl" hreflang="sl" data-title="Blago" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-ckb mw-list-item"><a href="https://ckb.wikipedia.org/wiki/%D8%A8%DB%95%D8%B1%D9%88%D8%A8%D9%88%D9%88" title="بەروبوو – Central Kurdish" lang="ckb" hreflang="ckb" data-title="بەروبوو" data-language-autonym="کوردی" data-language-local-name="Central Kurdish" class="interlanguage-link-target"><span>کوردی</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%A0%D0%BE%D0%B1%D0%B0" title="Роба – Serbian" lang="sr" hreflang="sr" data-title="Роба" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Tavara" title="Tavara – Finnish" lang="fi" hreflang="fi" data-title="Tavara" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Handelsvara" title="Handelsvara – Swedish" lang="sv" hreflang="sv" data-title="Handelsvara" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%B5%E0%AE%BF%E0%AE%B3%E0%AF%88%E0%AE%AA%E0%AF%8A%E0%AE%B0%E0%AF%81%E0%AE%B3%E0%AF%8D" title="விளைபொருள் – Tamil" lang="ta" hreflang="ta" data-title="விளைபொருள்" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B9%82%E0%B8%A0%E0%B8%84%E0%B8%A0%E0%B8%B1%E0%B8%93%E0%B8%91%E0%B9%8C" title="โภคภัณฑ์ – Thai" lang="th" hreflang="th" data-title="โภคภัณฑ์" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Emtia" title="Emtia – Turkish" lang="tr" hreflang="tr" data-title="Emtia" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/H%C3%A0ng_h%C3%B3a_to%C3%A0n_c%E1%BA%A7u" title="Hàng hóa toàn cầu – Vietnamese" lang="vi" hreflang="vi" data-title="Hàng hóa toàn cầu" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-yi mw-list-item"><a href="https://yi.wikipedia.org/wiki/%D7%A1%D7%97%D7%95%D7%A8%D7%94" title="סחורה – Yiddish" lang="yi" hreflang="yi" data-title="סחורה" data-language-autonym="ייִדיש" data-language-local-name="Yiddish" class="interlanguage-link-target"><span>ייִדיש</span></a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E5%95%86%E5%93%81" title="商品 – Cantonese" lang="yue" hreflang="yue" data-title="商品" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target"><span>粵語</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%A4%A7%E5%AE%97%E7%89%A9%E8%B3%87" title="大宗物資 – Chinese" lang="zh" hreflang="zh" data-title="大宗物資" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span 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a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><th class="sidebar-title" style="font-size:130%;"><a href="/wiki/Business_administration" title="Business administration">Business administration</a></th></tr><tr><td class="sidebar-above"> Management of a business</td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Accounting" title="Accounting">Accounting</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Management_accounting" title="Management accounting">Management accounting</a></li> <li><a href="/wiki/Financial_accounting" title="Financial accounting">Financial accounting</a></li> <li><a href="/wiki/Audit" title="Audit">Audit</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Legal_person" title="Legal person">Business entity</a> (<a href="/wiki/List_of_legal_entity_types_by_country" title="List of legal entity types by country">list</a>)</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Corporate_group" title="Corporate group">Corporate group</a></li> <li><a href="/wiki/Corporation_sole" title="Corporation sole">Corporation sole</a></li> <li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li> <li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li> <li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/Joint-stock_company" title="Joint-stock company">Joint-stock company</a></li> <li><a href="/wiki/Limited_liability_company" title="Limited liability company">Limited liability company</a></li> <li><a href="/wiki/Partnership" title="Partnership">Partnership</a></li> <li><a href="/wiki/Privately_held_company" title="Privately held company">Privately held company</a></li> <li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li> <li><a href="/wiki/State-owned_enterprise" title="State-owned enterprise">State-owned enterprise</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_governance" title="Corporate governance">Corporate governance</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Annual_general_meeting" title="Annual general meeting">Annual general meeting</a></li> <li><a href="/wiki/Board_of_directors" title="Board of directors">Board of directors</a></li> <li><a href="/wiki/Supervisory_board" title="Supervisory board">Supervisory board</a></li> <li><a href="/wiki/Advisory_board" title="Advisory board">Advisory board</a></li> <li><a href="/wiki/Audit_committee" title="Audit committee">Audit committee</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_law" title="Corporate law">Corporate law</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Commercial_law" title="Commercial law">Commercial law</a></li> <li><a href="/wiki/Constitutional_documents" title="Constitutional documents">Constitutional documents</a></li> <li><a href="/wiki/Contract" title="Contract">Contract</a></li> <li><a href="/wiki/Corporate_crime" title="Corporate crime">Corporate crime</a></li> <li><a href="/wiki/Corporate_liability" title="Corporate liability">Corporate liability</a></li> <li><a href="/wiki/Insolvency_law" class="mw-redirect" title="Insolvency law">Insolvency law</a></li> <li><a href="/wiki/International_trade_law" title="International trade law">International trade law</a></li> <li><a href="/wiki/Mergers_and_acquisitions" title="Mergers and acquisitions">Mergers and acquisitions</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_title" title="Corporate title">Corporate title</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Chairman" class="mw-redirect" title="Chairman">Chairman</a></li> <li><a href="/wiki/Chief_business_officer" title="Chief business officer">Chief business officer</a>/<a href="/wiki/Chief_brand_officer" class="mw-redirect" title="Chief brand officer">Chief brand officer</a></li> <li><a href="/wiki/Chief_executive_officer" title="Chief executive officer">Chief executive officer</a>/<a href="/wiki/Chief_operating_officer" title="Chief operating officer">Chief operating officer</a></li> <li><a href="/wiki/Chief_financial_officer" title="Chief financial officer">Chief financial officer</a></li> <li><a href="/wiki/Chief_human_resources_officer" title="Chief human resources officer">Chief human resources officer</a></li> <li><a href="/wiki/Chief_information_officer" title="Chief information officer">Chief information officer</a>/<a href="/wiki/Chief_marketing_officer" title="Chief marketing officer">Chief marketing officer</a></li> <li><a href="/wiki/Chief_product_officer" title="Chief product officer">Chief product officer</a>/<a href="/wiki/Chief_technology_officer" title="Chief technology officer">Chief technology officer</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Economics" title="Economics">Economics</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a class="mw-selflink selflink">Commodity</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public economics</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour economics</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development economics</a></li> <li><a href="/wiki/International_economics" title="International economics">International economics</a></li> <li><a href="/wiki/Mixed_economy" title="Mixed economy">Mixed economy</a></li> <li><a href="/wiki/Planned_economy" title="Planned economy">Planned economy</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental economics</a></li> <li><a href="/wiki/Open_economy" title="Open economy">Open economy</a></li> <li><a href="/wiki/Market_economy" title="Market economy">Market economy</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge economy</a></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></li> <li><a href="/wiki/Economic_development" title="Economic development">Economic development</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Economic statistics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Finance</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Financial_statement" title="Financial statement">Financial statement</a></li> <li><a href="/wiki/Insurance" title="Insurance">Insurance</a></li> <li><a href="/wiki/Factoring_(finance)" title="Factoring (finance)">Factoring</a></li> <li><a href="/wiki/Cash_conversion_cycle" title="Cash conversion cycle">Cash conversion cycle</a></li> <li><a href="/wiki/Insider_dealing" class="mw-redirect" title="Insider dealing">Insider dealing</a></li> <li><a href="/wiki/Capital_budgeting" title="Capital budgeting">Capital budgeting</a></li> <li><a href="/wiki/Commercial_bank" title="Commercial bank">Commercial bank</a></li> <li><a href="/wiki/Derivative_(finance)" title="Derivative (finance)">Derivative</a></li> <li><a href="/wiki/Financial_statement_analysis" title="Financial statement analysis">Financial statement analysis</a></li> <li><a href="/wiki/Financial_risk" title="Financial risk">Financial risk</a></li> <li><a href="/wiki/Public_finance" title="Public finance">Public finance</a></li> <li><a href="/wiki/Corporate_finance" title="Corporate finance">Corporate finance</a></li> <li><a href="/wiki/Managerial_finance" title="Managerial finance">Managerial finance</a></li> <li><a href="/wiki/International_finance" title="International finance">International finance</a></li> <li><a href="/wiki/Liquidation" title="Liquidation">Liquidation</a></li> <li><a href="/wiki/Stock_market" title="Stock market">Stock market</a></li> <li><a href="/wiki/Financial_market" title="Financial market">Financial market</a></li> <li><a href="/wiki/Tax" title="Tax">Tax</a></li> <li><a href="/wiki/Financial_institution" title="Financial institution">Financial institution</a></li> <li><a href="/wiki/Capital_management" title="Capital management">Capital management</a></li> <li><a href="/wiki/Venture_capital" title="Venture capital">Venture capital</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Types of management</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Asset_management" title="Asset management">Asset</a></li> <li><a href="/wiki/Brand_management" title="Brand management">Brand</a></li> <li><a href="/wiki/Business_intelligence" title="Business intelligence">Business intelligence</a></li> <li><a href="/wiki/Business_development" title="Business development">Business development</a></li> <li><a href="/wiki/Capacity_management" title="Capacity management">Capacity</a></li> <li><a href="/wiki/Capability_management_in_business" title="Capability management in business">Capability</a></li> <li><a href="/wiki/Change_management" title="Change management">Change</a> <ul><li><a href="/wiki/Innovation_management" title="Innovation management">innovation</a></li></ul></li> <li><a href="/wiki/Commercial_management" title="Commercial management">Commercial</a> <ul><li><a href="/wiki/Marketing_management" title="Marketing management">Marketing</a></li></ul></li> <li><a href="/wiki/Communications_management" title="Communications management">Communications</a></li> <li><a href="/wiki/Configuration_management" title="Configuration management">Configuration</a></li> <li><a href="/wiki/Conflict_management" title="Conflict management">Conflict</a></li> <li><a href="/wiki/Content_management" title="Content management">Content</a></li> <li><a href="/wiki/Customer_relationship_management" title="Customer relationship management">Customer relationship</a></li> <li><a href="/wiki/Distributed_management" title="Distributed management">Distributed</a></li> <li><a href="/wiki/Earned_value_management" title="Earned value management">Earned value</a></li> <li><a href="/wiki/Electronic_business" title="Electronic business">Electronic business</a></li> <li><a href="/wiki/Enterprise_resource_planning" title="Enterprise resource planning">Enterprise resource planning</a>  <ul><li><a href="/wiki/Management_information_system" title="Management information system">management information system</a></li></ul></li> <li><a href="/wiki/Financial_management" title="Financial management">Financial</a></li> <li><a href="/wiki/Human_resource_management" title="Human resource management">Human resource</a>  <ul><li><a href="/wiki/Human_resources" title="Human resources">development</a></li></ul></li> <li><a href="/wiki/Incident_management" title="Incident management">Incident</a></li> <li><a href="/wiki/Knowledge_management" title="Knowledge management">Knowledge</a></li> <li><a href="/wiki/Enterprise_legal_management" title="Enterprise legal management">Legal</a></li> <li><a href="/wiki/Materials_management" title="Materials management">Materials</a></li> <li><a href="/wiki/Network_management" title="Network management">Network</a> <ul><li><a href="/wiki/Network_administrator" title="Network administrator">administrator</a></li></ul></li> <li><a href="/wiki/Office_management" title="Office management">Office</a></li> <li><a href="/wiki/Operations_management" title="Operations management">Operations</a>  <ul><li><a href="/wiki/Operations_management_for_services" title="Operations management for services">services</a></li></ul></li> <li><a href="/wiki/Performance_management" class="mw-redirect" title="Performance management">Performance</a></li> <li><a href="/wiki/Power_management" title="Power management">Power</a></li> <li><a href="/wiki/Business_process_management" title="Business process management">Process</a></li> <li><a href="/wiki/Product_life-cycle_management" class="mw-redirect" title="Product life-cycle management">Product life-cycle</a></li> <li><a href="/wiki/Product_management" title="Product management">Product</a></li> <li><a href="/wiki/Project_management" title="Project management">Project</a></li> <li><a href="/wiki/Property_management" title="Property management">Property</a></li> <li><a href="/wiki/Quality_management" title="Quality management">Quality</a></li> <li><a href="/wiki/Records_management" title="Records management">Records</a></li> <li><a href="/wiki/Resource_management" title="Resource management">Resource</a></li> <li><a href="/wiki/Risk_management" title="Risk management">Risk</a>  <ul><li><a href="/wiki/Crisis_management" title="Crisis management">crisis</a></li></ul></li> <li><a href="/wiki/Sales_management" title="Sales management">Sales</a></li> <li><a href="/wiki/Security_management" title="Security management">Security</a></li> <li><a href="/wiki/Service_management" title="Service management">Service</a></li> <li><a href="/wiki/Strategic_management" title="Strategic management">Strategic</a></li> <li><a href="/wiki/Supply_chain_management" title="Supply chain management">Supply chain</a></li> <li><a href="/wiki/Systems_management" title="Systems management">Systems</a> <ul><li><a href="/wiki/System_administrator" title="System administrator">administrator</a></li></ul></li> <li><a href="/wiki/Talent_management" title="Talent management">Talent</a></li> <li><a href="/wiki/Technology_management" title="Technology management">Technology</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Organization</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Organizational_architecture" title="Organizational architecture">Architecture</a></li> <li><a href="/wiki/Organizational_behavior" title="Organizational behavior">Behavior</a></li> <li><a href="/wiki/Organizational_communication" title="Organizational communication">Communication</a></li> <li><a href="/wiki/Organizational_culture" title="Organizational culture">Culture</a></li> <li><a href="/wiki/Organizational_conflict" title="Organizational conflict">Conflict</a></li> <li><a href="/wiki/Organization_development" title="Organization development">Development</a></li> <li><a href="/wiki/Organizational_engineering" title="Organizational engineering">Engineering</a></li> <li><a href="/wiki/Hierarchical_organization" title="Hierarchical organization">Hierarchy</a></li> <li><a href="/wiki/Organizational_patterns" title="Organizational patterns">Patterns</a></li> <li><a href="/wiki/Organizational_space" title="Organizational space">Space</a></li> <li><a href="/wiki/Organizational_structure" title="Organizational structure">Structure</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Trade" title="Trade">Trade</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Business_analysis" title="Business analysis">Business analysis</a></li> <li><a href="/wiki/Business_ethics" title="Business ethics">Business ethics</a></li> <li><a href="/wiki/Business_plan" title="Business plan">Business plan</a></li> <li><a href="/wiki/Business_judgment_rule" title="Business judgment rule">Business judgment rule</a></li> <li><a href="/wiki/Consumer_behaviour" title="Consumer behaviour">Consumer behaviour</a></li> <li><a href="/wiki/Business_operations" title="Business operations">Business operations</a></li> <li><a href="/wiki/International_business" title="International business">International business</a></li> <li><a href="/wiki/Business_model" title="Business model">Business model</a></li> <li><a href="/wiki/International_trade" title="International trade">International trade</a> <ul><li><a href="/wiki/Trade_route" title="Trade route">Trade route</a></li></ul></li> <li><a href="/wiki/Business_process" title="Business process">Business process</a></li> <li><a href="/wiki/Business_statistics" class="mw-redirect" title="Business statistics">Business statistics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business_and_economics" class="mw-redirect" title="Portal:Business and economics">Business and economics 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data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Update plainlinks metadata ambox ambox-content ambox-Update" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/42px-Ambox_current_red_Americas.svg.png" decoding="async" width="42" height="34" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/63px-Ambox_current_red_Americas.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/84px-Ambox_current_red_Americas.svg.png 2x" data-file-width="360" data-file-height="290" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This article needs to be <b>updated</b>.<span class="hide-when-compact"> Please help update this article to reflect recent events or newly available information.</span> <span class="date-container"><i>(<span class="date">August 2024</span>)</i></span></div></td></tr></tbody></table> <p>In <a href="/wiki/Economics" title="Economics">economics</a>, a <b>commodity</b> is an economic <a href="/wiki/Goods" title="Goods">good</a>, usually a <a href="/wiki/Resource" title="Resource">resource</a>, that specifically has full or substantial <a href="/wiki/Fungibility" title="Fungibility">fungibility</a>: that is, the <a href="/wiki/Market_(economics)" title="Market (economics)">market</a> treats instances of the good as equivalent or nearly so with no regard to who <a href="/wiki/Production_(economics)" title="Production (economics)">produced</a> them.<sup id="cite_ref-commexamples_1-0" class="reference"><a href="#cite_note-commexamples-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded <a href="/wiki/Spot_market" title="Spot market">spot</a> and <a href="/wiki/Derivative_(finance)" title="Derivative (finance)">derivative</a> markets. The wide availability of commodities typically leads to smaller <a href="/wiki/Profit_margin" title="Profit margin">profit margins</a> and diminishes the importance of factors (such as <a href="/wiki/Brand" title="Brand">brand name</a>) other than price. </p><p>Most commodities are <a href="/wiki/Raw_material" title="Raw material">raw materials</a>, basic resources, <a href="/wiki/Agriculture" title="Agriculture">agricultural</a>, or <a href="/wiki/Mining" title="Mining">mining</a> products, such as <a href="/wiki/Iron_ore" title="Iron ore">iron ore</a>, <a href="/wiki/Sugar" title="Sugar">sugar</a>, or <a href="/wiki/Grain" title="Grain">grains</a> like <a href="/wiki/Rice" title="Rice">rice</a> and <a href="/wiki/Wheat" title="Wheat">wheat</a>. Commodities can also be <a href="/wiki/Mass-produced" class="mw-redirect" title="Mass-produced">mass-produced</a> unspecialized products such as <a href="/wiki/Chemical_substance" title="Chemical substance">chemicals</a> and <a href="/wiki/Computer_memory" title="Computer memory">computer memory</a>. Popular commodities include <a href="/wiki/Petroleum" title="Petroleum">crude oil</a>, <a href="/wiki/Maize" title="Maize">corn</a>, <a href="/wiki/Gold" title="Gold">gold</a> and <a href="/wiki/Bitcoin" title="Bitcoin">Bitcoin</a>. </p><p>Other definitions of <b>commodity</b> include something useful or valued<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> and an alternative term for an economic good or service available for purchase in the market.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> In such standard works as <a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Alfred Marshall</a>'s <a href="/wiki/Principles_of_Economics_(Marshall)" class="mw-redirect" title="Principles of Economics (Marshall)"><i>Principles of Economics</i></a> (1920)<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> and <a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Léon Walras</a>'s <a href="/wiki/L%C3%A9on_Walras#Éléments_d'Économie_Politique_Pure" title="Léon Walras"><i>Elements of Pure Economics</i></a> ([1926] 1954)<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> 'commodity' serves as general term for an economic good or service. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Etymology">Etymology</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=1" title="Edit section: Etymology"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The word <i>commodity</i> came into use in English in the 15th century, from the French <i><a href="https://en.wiktionary.org/wiki/commodit%C3%A9#French" class="extiw" title="wikt:commodité">commodité</a></i>, "amenity, convenience". Going further back, the French word derives from the Latin <i><a href="https://en.wiktionary.org/wiki/commoditas#Latin" class="extiw" title="wikt:commoditas">commoditas</a></i>, meaning "suitability, convenience, advantage". The Latin word <i><a href="https://en.wiktionary.org/wiki/commodus#Latin" class="extiw" title="wikt:commodus">commodus</a></i> (from which English gets other words including <i>commodious</i> and <i>accommodate</i>) meant variously "appropriate", "proper measure, time, or condition", and "advantage, benefit". </p> <div class="mw-heading mw-heading2"><h2 id="Description">Description</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=2" title="Edit section: Description"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Characteristics">Characteristics</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=3" title="Edit section: Characteristics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In economics, the term <i>commodity</i> is used specifically for <a href="/wiki/Economic_goods" class="mw-redirect" title="Economic goods">economic goods</a> that have full or partial but substantial <a href="/wiki/Fungibility" title="Fungibility">fungibility</a>; that is, the market treats their instances as equivalent or nearly so with no regard to who produced them.<sup id="cite_ref-commexamples_1-1" class="reference"><a href="#cite_note-commexamples-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Karl Marx described this property as follows: "From the taste of <a href="/wiki/Wheat" title="Wheat">wheat</a>, it is not possible to tell who produced it, a <a href="/wiki/Serfdom_in_Russia" title="Serfdom in Russia">Russian serf</a>, a French peasant or an English <a href="/wiki/Capitalist" class="mw-redirect" title="Capitalist">capitalist</a>."<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Petroleum" title="Petroleum">Petroleum</a> and <a href="/wiki/Copper" title="Copper">copper</a> are examples of commodity goods:<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> their supply and demand are a part of one universal market. </p><p>Non-commodity items such as <a href="/wiki/Stereo" class="mw-redirect" title="Stereo">stereo</a> systems have many aspects of <a href="/wiki/Product_differentiation" title="Product differentiation">product differentiation</a>, such as the <a href="/wiki/Brand" title="Brand">brand</a>, the user interface and the perceived quality. The demand for one type of stereo may be much larger than demand for another. </p><p>The price of a commodity good is typically determined as a function of its market as a whole. Well-established physical commodities have actively traded <a href="/wiki/Spot_market" title="Spot market">spot</a> and <a href="/wiki/Derivative_(finance)" title="Derivative (finance)">derivative</a> markets. </p> <div class="mw-heading mw-heading3"><h3 id="Hard_and_soft_commodities">Hard and soft commodities</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=4" title="Edit section: Hard and soft commodities"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:World_Exports_Of_Cereals_By_Main_Commodities.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a9/World_Exports_Of_Cereals_By_Main_Commodities.svg/220px-World_Exports_Of_Cereals_By_Main_Commodities.svg.png" decoding="async" width="220" height="184" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a9/World_Exports_Of_Cereals_By_Main_Commodities.svg/330px-World_Exports_Of_Cereals_By_Main_Commodities.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a9/World_Exports_Of_Cereals_By_Main_Commodities.svg/440px-World_Exports_Of_Cereals_By_Main_Commodities.svg.png 2x" data-file-width="512" data-file-height="428" /></a><figcaption>World exports of cereals by main commodities</figcaption></figure> <p><a href="/wiki/Soft_commodity" title="Soft commodity">Soft commodities</a> are goods that are grown, such as <a href="/wiki/Wheat" title="Wheat">wheat</a>, or <a href="/wiki/Rice" title="Rice">rice</a>. </p><p>Hard commodities are <a href="/wiki/Mining" title="Mining">mined</a>. Examples include <a href="/wiki/Gold" title="Gold">gold</a>, <a href="/wiki/Silver" title="Silver">silver</a>, <a href="/wiki/Helium" title="Helium">helium</a>, <a href="/wiki/Petroleum" title="Petroleum">oil</a>, and <a href="/wiki/Bitcoin" title="Bitcoin">Bitcoin</a>. </p><p>Energy commodities include electricity, gas, <a href="/wiki/Coal" title="Coal">coal</a> and oil. Electricity has the particular characteristic that it is usually uneconomical to store, and must therefore be consumed as soon as it is produced. </p> <div class="mw-heading mw-heading2"><h2 id="Commoditization">Commoditization</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=5" title="Edit section: Commoditization"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Commoditization" title="Commoditization">Commoditization</a> occurs as a goods or services market loses differentiation across its supply base, often by the diffusion of the <a href="/wiki/Intellectual_capital" title="Intellectual capital">intellectual capital</a> necessary to acquire or produce it efficiently. As such, goods that formerly carried premium <a href="/wiki/Profit_margin" title="Profit margin">margins</a> for <a href="/wiki/Market_(economics)" title="Market (economics)">market</a> <a href="https://en.wiktionary.org/wiki/participation" class="extiw" title="wikt:participation">participants</a> have become commodities, such as <a href="/wiki/Generic_drug" title="Generic drug">generic pharmaceuticals</a> and <a href="/wiki/Dynamic_random-access_memory" title="Dynamic random-access memory">DRAM chips</a>. An article in <i><a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a></i> cites <a href="/wiki/Multivitamin" title="Multivitamin">multivitamin</a> supplements as an example of commoditization; a 50 mg tablet of <a href="/wiki/Calcium" title="Calcium">calcium</a> is of equal value to a consumer no matter what company produces and markets it, and as such, multivitamins are now sold in bulk and are available at any supermarket with little brand differentiation.<sup id="cite_ref-Times_10-0" class="reference"><a href="#cite_note-Times-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Following this trend, <a href="/wiki/Nanomaterials" title="Nanomaterials">nanomaterials</a> are emerging from carrying premium profit margins for market participants to a status of commodification.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>There is a spectrum of commoditization, rather than a binary distinction of "commodity versus differentiable product". Few products have complete undifferentiability and hence fungibility; even electricity can be differentiated in the market based on its method of generation (e.g., fossil fuel, wind, solar), in markets where <a href="/wiki/Electricity_market#Retail_electricity_market" title="Electricity market">energy choice</a> lets a buyer opt (and pay more) for renewable methods if desired. Many products' degree of commoditization depends on the buyer's mentality and means. For example, milk, eggs, and notebook paper are not differentiated by many customers; for them, the product is fungible and lowest price is the main decisive factor in the purchasing choice. Other customers take into consideration other factors besides price, such as environmental sustainability and animal welfare. To these customers, distinctions such as "<a href="/wiki/Organic_food" title="Organic food">organic</a> versus not" or "<a href="/wiki/Free-range_eggs" title="Free-range eggs">cage free</a> versus not" count toward differentiating brands of milk or eggs, and percentage of recycled content or <a href="/wiki/Forest_Stewardship_Council" title="Forest Stewardship Council">Forest Stewardship Council</a> <a href="/wiki/Certified_wood" title="Certified wood">certification</a> count toward differentiating brands of notebook paper. </p> <div class="mw-heading mw-heading2"><h2 id="Global_commodities_trading_company">Global commodities trading company</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=6" title="Edit section: Global commodities trading company"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>This is a list of companies trading globally in commodities, descending by size as of October 28, 2011.<sup id="cite_ref-reuters_12-0" class="reference"><a href="#cite_note-reuters-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <ol><li><a href="/wiki/Vitol" title="Vitol">Vitol</a></li> <li><a href="/wiki/Glencore_International_AG" class="mw-redirect" title="Glencore International AG">Glencore International AG</a></li> <li><a href="/wiki/Trafigura" title="Trafigura">Trafigura</a></li> <li><a href="/wiki/Cargill" title="Cargill">Cargill</a></li> <li><a href="/wiki/Salam_Investment" title="Salam Investment">Salam Investment</a></li> <li><a href="/wiki/Archer_Daniels_Midland" title="Archer Daniels Midland">Archer Daniels Midland</a></li> <li><a href="/wiki/Gunvor_(company)" class="mw-redirect" title="Gunvor (company)">Gunvor (company)</a></li> <li><a href="/wiki/Mercuria_Energy_Group" class="mw-redirect" title="Mercuria Energy Group">Mercuria Energy Group</a></li> <li><a href="/wiki/Noble_Group" title="Noble Group">Noble Group</a></li> <li><a href="/wiki/Louis_Dreyfus_Group" class="mw-redirect" title="Louis Dreyfus Group">Louis Dreyfus Group</a></li> <li><a href="/wiki/Bunge_Limited" class="mw-redirect" title="Bunge Limited">Bunge Limited</a></li> <li><a href="/wiki/Wilmar_International" title="Wilmar International">Wilmar International</a></li> <li><a href="/wiki/Olam_International" title="Olam International">Olam International</a></li> <li><a href="/w/index.php?title=Rochel_International&action=edit&redlink=1" class="new" title="Rochel International (page does not exist)">Rochel International</a></li></ol> <div class="mw-heading mw-heading2"><h2 id="Commodity_trade">Commodity trade</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=7" title="Edit section: Commodity trade"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/wiki/Futures_exchange" title="Futures exchange">Futures exchange</a> and <a href="/wiki/Commodity_market" title="Commodity market">Commodity market</a></div> <p>In the original and simplified sense, <i><b>commodities</b></i> were things of value, of uniform quality, that were produced in large quantities by many different producers; the items from each different producer were considered equivalent. On a commodity exchange, it is the underlying standard stated in the contract that defines the commodity, not any quality inherent in a specific producer's product. </p><p><a href="/wiki/Commodities_exchange" class="mw-redirect" title="Commodities exchange">Commodities exchanges</a> include: </p> <ul><li>Bourse Africa (formerly GBOT)</li> <li><a href="/wiki/Bursa_Malaysia" title="Bursa Malaysia">Bursa Malaysia</a> Derivatives (MDEX)</li> <li><a href="/wiki/Chicago_Board_of_Trade" title="Chicago Board of Trade">Chicago Board of Trade</a> (CBOT)</li> <li><a href="/wiki/Chicago_Mercantile_Exchange" title="Chicago Mercantile Exchange">Chicago Mercantile Exchange</a> (CME)</li> <li><a href="/wiki/Dalian_Commodity_Exchange" title="Dalian Commodity Exchange">Dalian Commodity Exchange</a> (DCE)</li> <li><a href="/wiki/Euronext.liffe" class="mw-redirect" title="Euronext.liffe">Euronext.liffe</a> (<a href="/wiki/LIFFE" class="mw-redirect" title="LIFFE">LIFFE</a>)</li> <li><a href="/wiki/Kansas_City_Board_of_Trade" title="Kansas City Board of Trade">Kansas City Board of Trade</a> (KCBT)</li> <li><a href="/wiki/London_Metal_Exchange" title="London Metal Exchange">London Metal Exchange</a> (LME)</li> <li><a href="/wiki/March%C3%A9_%C3%A0_Terme_International_de_France" class="mw-redirect" title="Marché à Terme International de France">Marché à Terme International de France</a> (MATIF)</li> <li>Mercantile Exchange Nepal Limited (MEX)</li> <li><a href="/wiki/Multi_Commodity_Exchange" title="Multi Commodity Exchange">Multi Commodity Exchange</a> (MCX)</li> <li><a href="/wiki/National_Commodity_and_Derivatives_Exchange" title="National Commodity and Derivatives Exchange">National Commodity and Derivatives Exchange</a> (NCDEX)</li> <li><a href="/wiki/National_Commodity_Exchange_Limited" class="mw-redirect" title="National Commodity Exchange Limited">National Commodity Exchange Limited</a> (NCEL)</li> <li><a href="/wiki/New_York_Mercantile_Exchange" title="New York Mercantile Exchange">New York Mercantile Exchange</a> (NYMEX)</li> <li><a href="/wiki/Yiwu_International_Trade_City" title="Yiwu International Trade City">Yiwu International Trade City</a>(Yiwu Market)</li></ul> <p><a href="/wiki/Commodity_market" title="Commodity market">Markets for trading commodities</a> can be very <a href="/wiki/Economic_efficiency" title="Economic efficiency">efficient</a>, particularly if the division into pools matches demand <a href="/wiki/Market_segmentation" title="Market segmentation">segments</a>. These markets will quickly respond to changes in <a href="/wiki/Supply_and_demand" title="Supply and demand">supply and demand</a> to find an <a href="/wiki/Economic_equilibrium" title="Economic equilibrium">equilibrium</a> <a href="/wiki/Price" title="Price">price</a> and quantity. In addition, investors can gain passive exposure to the commodity markets through a <a href="/wiki/Commodity_price_index" title="Commodity price index">commodity price index</a>. </p><p>In order to <a href="/wiki/Diversification_(finance)" title="Diversification (finance)">diversify</a> their investments and mitigate the risks associated with <a href="/wiki/Inflation" title="Inflation">inflationary</a> debasement of currencies, <a href="/wiki/Pension_fund" title="Pension fund">pension funds</a> and <a href="/wiki/Sovereign_wealth_fund" title="Sovereign wealth fund">sovereign wealth funds</a> allocate capital to non-listed assets such as a commodities and commodity-related infrastructure.<sup id="cite_ref-turkishweekly_13-0" class="reference"><a href="#cite_note-turkishweekly-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Inventory_data">Inventory data</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=8" title="Edit section: Inventory data"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Inventory" title="Inventory">inventory</a> of commodities, with low inventories typically leading to more volatile future prices and increasing the risk of a "<a href="/wiki/Stockout" title="Stockout">stockout</a>" (inventory exhaustion). According to economist theorists, companies receive a <a href="/wiki/Convenience_yield" title="Convenience yield">convenience yield</a> by holding inventories of certain commodities. <a href="/wiki/Data" title="Data">Data</a> on inventories of commodities are not available from one common source, although data is available from various sources. Inventory data on 31 commodities was used in a 2006 study on the relationship between inventories and commodity futures risk premiums.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Commodification_of_labour">Commodification of labour</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=9" title="Edit section: Commodification of labour"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Labour_is_not_a_commodity" title="Labour is not a commodity">Labour is not a commodity</a></div> <p>In classical political economy and especially in <a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a>'s <a href="/wiki/Critique_of_political_economy" title="Critique of political economy">critique of political economy</a>, a commodity is an object or a good or service ("product" or "activity"<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup>) produced by <a href="/wiki/Labour_power" title="Labour power">human labour</a>.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> Objects are external to man.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> However, some objects attain "<a href="/wiki/Use_value" title="Use value">use value</a>" to persons in this world, when they are found to be "necessary, useful or pleasant in life".<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> "Use value" makes an object "an object of human wants",<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> or "a means of subsistence in the widest sense".<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>As society developed, people found that they could trade goods and services for other goods and services. At this stage, these <a href="/wiki/Goods_and_services" title="Goods and services">goods and services</a> became "commodities". According to Marx, commodities are defined as objects which are offered for sale or are "exchanged in a market".<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> In the marketplace, where commodities are sold, "use value" is not helpful in facilitating the sale of commodities. Accordingly, in addition to having use value, commodities must have an "exchange value"—a value that could be expressed in the market.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p><p>Prior to Marx, many economists debated as to what elements made up exchange value. <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> maintained that exchange value was made up of <a href="/wiki/Economic_rent" title="Economic rent">rent</a>, <a href="/wiki/Economic_profit" class="mw-redirect" title="Economic profit">profit</a>, <a href="/wiki/Labour_economics" title="Labour economics">labour</a> and the costs of wear and tear on the instruments of husbandry.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> <a href="/wiki/David_Ricardo" title="David Ricardo">David Ricardo</a>, a follower of Adam Smith, modified Smith's approach on this point by alleging that labour alone is the content of the exchange value of any good or service.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> While maintaining that all exchange value in commodities was derived directly from the hands of the people that made the commodity, Ricardo noted that only part of the exchange value of the commodity was paid to the worker who made the commodity. The other part of the value of this particular commodity was labour that was not paid to the worker—unpaid labour. This unpaid labour was retained by the owner of the means of production. In capitalist society, the capitalist owns the means of production and therefore the unpaid labour is retained by the capitalist as rent or as profit. The means of production means the site where the commodity is made, the raw products that are used in the production and the instruments or machines that are used for the production of the commodity. </p><p>However, not all commodities are reproducible nor were all commodities originally intended to be sold in the market. These priced goods are also treated as commodities, e.g. human labour-power, works of art and natural resources ("earth itself is an instrument of labour"),<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> even though they may not be produced specifically for the market, or be non-reproducible goods. </p><p>Marx's analysis of the commodity is intended to help solve the problem of what establishes the <a href="/wiki/Economic_value" class="mw-redirect" title="Economic value">economic value</a> of goods, using the <a href="/wiki/Labour_theory_of_value" class="mw-redirect" title="Labour theory of value">labour theory of value</a>. This problem was extensively debated by <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a>, <a href="/wiki/David_Ricardo" title="David Ricardo">David Ricardo</a><sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> and <a href="/wiki/Karl_Rodbertus-Jagetzow" class="mw-redirect" title="Karl Rodbertus-Jagetzow">Karl Rodbertus-Jagetzow</a> among others. </p><p>All three of the above-mentioned economists rejected the theory that labour composed 100% of the exchange value of any commodity. In varying degrees, these economists turned to supply and demand to establish the price of commodities. Marx held that the "price" and the "value" of a commodity were not synonymous. Price of any commodity would vary according to the imbalance of supply to demand at any one period of time. The "value" of the same commodity would be consistent and would reflect the amount of labour value used to produce that commodity. </p><p>Prior to Marx, economists noted that the problem with using the "quantity of labour" to establish the value of commodities was that the time spent by an unskilled worker would be longer than the time spent on the same commodity by a skilled worker. Thus, under this analysis, the commodity produced by an unskilled worker would be more valuable than the same commodity produced by the skilled worker. Marx pointed out, however, that in society at large, an average amount of time that was necessary to produce the commodity would arise. This average time necessary to produce the commodity Marx called the "socially necessary labour time".<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> Socially necessary labour time was the proper basis on which to base the "exchange value" of a given commodity. </p> <div class="mw-heading mw-heading2"><h2 id="Commodity_Super_Cycle">Commodity Super Cycle</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=10" title="Edit section: Commodity Super Cycle"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Commodity Super Cycles are periods of time, around a decade, where commodities as a whole trade at a price that is greater than their long term <a href="/wiki/Moving_average" title="Moving average">moving average</a>.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> A Super Cycle will usually occur when there is large industrial and commercial change in a country or world that requires more resources to support the change. As prices rise, goods and services that rely on commodities rise with them. </p> <div class="mw-heading mw-heading3"><h3 id="History_of_Super_Cycles">History of Super Cycles</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=11" title="Edit section: History of Super Cycles"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>There have been four super cycles over the last 120 years worldwide.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> The first commodity super cycle started in late 1890 and was accelerated on the back of widespread U.S. industrialization and World War 1. In 1917 commodity prices peaked and then entered a downtrend to the 1930s. As war erupted in Europe in the late 1930s and eventually including the U.S. the world saw a new cycle begin. Countries were not just preparing for war but also the <a href="/wiki/Aftermath_of_World_War_II" title="Aftermath of World War II">Aftermath of World War II</a> as lots of Europe and Asia faced heavy rebuilding. This cycle eventually peaked in 1951 and faded away in the early 70s.<sup id="cite_ref-:0_30-0" class="reference"><a href="#cite_note-:0-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> In the 1970s as world economies grew they needed more materials and energy to support expansion leading to increases in prices across the board. This boom came to an end as foreign investments fled as extractive industries became nationalized.<sup id="cite_ref-:0_30-1" class="reference"><a href="#cite_note-:0-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> The most recent of commodity super cycles began in 2000 as China joined the <a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a>.<sup id="cite_ref-:0_30-2" class="reference"><a href="#cite_note-:0-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> China was also in the beginning of their boom as industry and expansion took off. Workers moved into cities as emerging industries took off and offered a lots of new jobs and opportunities. In 2008 when the <a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a> hit it put a halt onto the supercycle as GDP's across the world tanked leaving many economies in recessions. </p><p>The next or the fifth supercycle could arrive as the world enters the final phases of the <a href="/wiki/COVID-19_pandemic" title="COVID-19 pandemic">COVID-19 pandemic</a> and starts to build massive clean energy infrastructure in view of the commodity price increase.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=12" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 21em;"> <ul><li><a href="/wiki/2000s_commodities_boom" title="2000s commodities boom">2000s commodities boom</a></li> <li><a href="/wiki/Commercial_off-the-shelf" title="Commercial off-the-shelf">Commercial off-the-shelf</a> or "commercially available off-the-shelf" (COTS)</li> <li><a href="/wiki/Commodification" title="Commodification">Commodification</a></li> <li><a href="/wiki/Commodity_(Marxism)" title="Commodity (Marxism)">Commodity (Marxism)</a></li> <li><a href="/wiki/Commodity_currency" title="Commodity currency">Commodity currency</a></li> <li><a href="/wiki/Commodity_fetishism" title="Commodity fetishism">Commodity fetishism</a></li> <li><a href="/wiki/Commodity_risk" title="Commodity risk">Commodity market risk and values</a></li> <li><a href="/wiki/Commodity_money" title="Commodity money">Commodity money</a></li> <li><a href="/wiki/Commodity_price_shocks" title="Commodity price shocks">Commodity price shocks</a></li> <li><a href="/wiki/Commodity_price_index" title="Commodity price index">Commodity price index</a></li> <li><a href="/wiki/List_of_traded_commodities" title="List of traded commodities">List of traded commodities</a></li> <li><a href="/wiki/Sample_grade" title="Sample grade">Sample grade</a></li> <li><a href="/wiki/Standardization" title="Standardization">Standardization</a></li> <li><a href="/wiki/Trade" title="Trade">Trade</a></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Commodity&action=edit&section=13" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-commexamples-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-commexamples_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-commexamples_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://beginnersinvest.about.com/cs/commodities/f/whatcommodities.htm">"Learn What Commodities Are in These Examples!"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Learn+What+Commodities+Are+in+These+Examples%21&rft_id=http%3A%2F%2Fbeginnersinvest.about.com%2Fcs%2Fcommodities%2Ff%2Fwhatcommodities.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommodity" class="Z3988"></span><sup class="noprint Inline-Template"><span style="white-space: nowrap;">[<i><a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot"><span title=" Dead link tagged December 2023">permanent dead link</span></a></i><span style="visibility:hidden; color:transparent; padding-left:2px">‍</span>]</span></sup></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation encyclopaedia cs1"><a rel="nofollow" class="external text" href="https://www.merriam-webster.com/dictionary/commodity">"Commodity definition"</a>. <i><a href="/wiki/Merriam-Webster_Dictionary" class="mw-redirect" title="Merriam-Webster Dictionary">Merriam-Webster Dictionary</a></i><span class="reference-accessdate">. Retrieved <span class="nowrap">30 July</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Commodity+definition&rft.btitle=Merriam-Webster+Dictionary&rft_id=https%3A%2F%2Fwww.merriam-webster.com%2Fdictionary%2Fcommodity&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommodity" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFT.2017" class="citation news cs1">T., H. (3 January 2017). <a rel="nofollow" class="external text" href="https://www.economist.com/the-economist-explains/2017/01/03/what-makes-something-a-commodity">"What makes something a commodity?"</a>. <i>The Economist</i><span class="reference-accessdate">. Retrieved <span class="nowrap">22 January</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Economist&rft.atitle=What+makes+something+a+commodity%3F&rft.date=2017-01-03&rft.aulast=T.&rft.aufirst=H.&rft_id=https%3A%2F%2Fwww.economist.com%2Fthe-economist-explains%2F2017%2F01%2F03%2Fwhat-makes-something-a-commodity&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACommodity" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><i>Merriam-Webster Dictionary</i>, <a rel="nofollow" class="external text" href="https://www.merriam-webster.com/dictionary/commodity">commodity, def. 2a.</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20220420162300/https://www.merriam-webster.com/dictionary/commodity">Archived</a> 2022-04-20 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>. Retrieved January 2022.</span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text">Mas-Colell, Andreu, Michael D. Whinston, and Jeffery R. Green (1995). <i>Microeconomic Theory</i>, Oxford, p. 17.</span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text">Alfred Marshall (1920). <i>Principles of Economics</i> <a rel="nofollow" class="external text" href="https://eet.pixel-online.org/files/etranslation/original/Marshall,%20Principles%20of%20Economics.pdf">Press cntrl-f to search for commodity vis- à-vis goods and services.</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20220114181004/https://eet.pixel-online.org/files/etranslation/original/Marshall,%20Principles%20of%20Economics.pdf">Archived</a> 2022-01-14 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text">Léon Walras ([1926] 1954). <i>Elements of Pure Economics</i> <a rel="nofollow" class="external text" href="http://digamo.free.fr/walras96.pdf">Press cntrl-f to search for commodity vis- à-vis goods and services.</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20220115062653/http://digamo.free.fr/walras96.pdf">Archived</a> 2022-01-15 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a>, "<a href="/wiki/A_Contribution_to_the_Critique_of_Political_Economy" title="A Contribution to the Critique of Political Economy">A Contribution to the Critique of Political Economy</a>" contained in the <i>Collected Works of Karl Marx and Frederick Engels: Volume 29</i>, p. 270.</span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFO'SullivanSteven_M._Sheffrin2004" class="citation book cs1"><a href="/wiki/Arthur_O%27Sullivan_(economist)" title="Arthur O'Sullivan (economist)">O'Sullivan, Arthur</a>; Steven M. 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class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/45px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/59px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></span></span></div> <div class="side-box-text plainlist">Wikimedia Commons has media related to <span style="font-weight: bold; font-style: italic;"><a href="https://commons.wikimedia.org/wiki/Category:Commodities" class="extiw" title="commons:Category:Commodities">Commodities</a></span>.</div></div> </div> <ul><li><a rel="nofollow" class="external text" href="https://ssrn.com/abstract=592262">Pricing in Electricity Markets: A Mean Reverting Jump Diffusion Model with Seasonality</a></li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20150402130050/https://www.quandl.com/c/markets/commodities">Collection of current and historical commodities data</a> from <a href="/w/index.php?title=Quandl&action=edit&redlink=1" class="new" title="Quandl (page does not exist)">Quandl</a></li> <li><a rel="nofollow" class="external text" href="http://www2.ohchr.org/english/issues/food/docs/Briefing_Note_02_September_2010_EN.pdf">United Nations Human Rights Council</a></li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090510213204/http://blogs.reuters.com/great-debate/2009/05/05/conceptual-problems-in-commodity-regulation/">Conceptual problems in commodity regulation</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output 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.navbox-title{background-color:#ddf}.mw-parser-output .navbox-subgroup .navbox-group,.mw-parser-output .navbox-subgroup .navbox-abovebelow{background-color:#e6e6ff}.mw-parser-output .navbox-even{background-color:#f7f7f7}.mw-parser-output .navbox-odd{background-color:transparent}.mw-parser-output .navbox .hlist td dl,.mw-parser-output .navbox .hlist td ol,.mw-parser-output .navbox .hlist td ul,.mw-parser-output .navbox td.hlist dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Commodities_and_commoditization" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Commodity" title="Template:Commodity"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Commodity" title="Template talk:Commodity"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Commodity" title="Special:EditPage/Template:Commodity"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Commodities_and_commoditization" style="font-size:114%;margin:0 4em"><a class="mw-selflink selflink">Commodities</a> and <a href="/wiki/Commoditization" title="Commoditization">commoditization</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Soft_commodity" title="Soft commodity">Soft commodities</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;font-weight:normal;">General</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Barley" title="Barley">Barley</a></li> <li><a href="/wiki/Cocoa_bean" title="Cocoa bean">Cocoa</a></li> <li><a href="/wiki/Coffee" title="Coffee">Coffee</a></li> <li><a href="/wiki/Cotton" title="Cotton">Cotton</a></li> <li><a href="/wiki/Cottonseed_oil" title="Cottonseed oil">Cottonseed oil</a></li> <li><a href="/wiki/Flaxseed" class="mw-redirect" title="Flaxseed">Flaxseed</a></li> <li><a href="/wiki/Orange_juice" title="Orange juice">Frozen orange juice</a></li> <li><a href="/wiki/Oat" title="Oat">Oat</a></li> <li><a href="/wiki/Olive_oil" title="Olive oil">Olive oil</a></li> <li><a href="/wiki/Palm_oil" title="Palm oil">Palm oil</a></li> <li><a href="/wiki/Peanut_oil" title="Peanut oil">Peanut oil</a></li> <li><a href="/wiki/Potato" title="Potato">Potatoes</a></li> <li><a href="/wiki/Rapeseed" title="Rapeseed">Rapeseed</a></li> <li><a href="/wiki/Rice" title="Rice">Rice</a></li> <li><a href="/wiki/Rye" title="Rye">Rye</a></li> <li><a href="/wiki/Natural_rubber" title="Natural rubber">Rubber</a></li> <li><a href="/wiki/Soybean" title="Soybean">Soybean</a></li> <li><a href="/wiki/Soybean_oil" title="Soybean oil">Soybean oil</a></li> <li><a href="/wiki/Sugar" title="Sugar">Sugar</a></li> <li><a href="/wiki/Tea" title="Tea">Tea</a></li> <li><a href="/wiki/Wheat" title="Wheat">Wheat</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;font-weight:normal;">Animals &<br /><a href="/wiki/Animal_product" title="Animal product">animal products</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Ambergris" title="Ambergris">Ambergris</a></li> <li><a href="/wiki/Bristle" title="Bristle">Bristle</a></li> <li><a href="/wiki/Butter" title="Butter">Butter</a></li> <li><a href="/wiki/Cashmere_wool" title="Cashmere wool">Cashmere</a></li> <li><a href="/wiki/Civet_(perfumery)" title="Civet (perfumery)">Civet</a></li> <li><a href="/wiki/Feather" title="Feather">Feathers</a></li> <li><a href="/wiki/Feeder_cattle" title="Feeder cattle">Feeder cattle</a></li> <li><a href="/wiki/Lean_Hog" title="Lean Hog">Lean Hog</a></li> <li><a href="/wiki/Cattle" title="Cattle">Live cattle</a></li> <li><a href="/wiki/Goat" title="Goat">Goats</a></li> <li><a href="/wiki/Hide_(skin)" title="Hide (skin)">Hide (skin)</a></li> <li><a href="/wiki/Horse" title="Horse">Horses</a></li> <li><a href="/wiki/Ivory" title="Ivory">Ivory</a></li> <li><a href="/wiki/Lard" title="Lard">Lard</a></li> <li><a href="/wiki/Milk" title="Milk">Milk</a></li> <li><a href="/wiki/Musk" title="Musk">Musk</a></li> <li><a href="/wiki/Pet_industry" title="Pet industry">Pet industry</a></li> <li><a href="/wiki/Pork_bellies" class="mw-redirect" title="Pork bellies">Pork bellies</a> <ul><li><a href="/wiki/Pork_bellies#Futures" class="mw-redirect" title="Pork bellies">Pork belly futures</a></li></ul></li> <li><a href="/wiki/Sheep" title="Sheep">Sheep</a></li> <li><a href="/wiki/Silk" title="Silk">Silk</a></li> <li><a href="/wiki/Sponge" title="Sponge">Sponges</a></li> <li><a href="/wiki/Tallow" title="Tallow">Tallow</a></li> <li><a href="/wiki/Bone" title="Bone">Whalebone</a></li> <li><a href="/wiki/Wool" title="Wool">Wool</a></li> <li><a href="/wiki/Wool_top" title="Wool top">Wool tops</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Hard commodities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:6.5em;font-weight:normal;">Energy</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Coal" title="Coal">Coal</a></li> <li><a href="/wiki/Compressed_hydrogen" title="Compressed hydrogen">Compressed hydrogen</a></li> <li><a href="/wiki/Petroleum" title="Petroleum">Crude oil</a></li> <li><a href="/wiki/Ethanol_fuel" title="Ethanol fuel">Ethanol</a></li> <li><a href="/wiki/Heating_oil" title="Heating oil">Heating oil</a></li> <li><a href="/wiki/Natural_gas" title="Natural gas">Natural gas</a></li> <li><a href="/wiki/Propane" title="Propane">Propane</a></li> <li><a href="/wiki/Thorium" title="Thorium">Thorium</a></li> <li><a href="/wiki/Uranium" title="Uranium">Uranium</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:6.5em;font-weight:normal;">Industrial metals</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aluminium" title="Aluminium">Aluminium</a></li> <li><a href="/wiki/Aluminium_alloy" title="Aluminium alloy">Aluminium alloy</a></li> <li><a href="/wiki/Cobalt" title="Cobalt">Cobalt</a></li> <li><a href="/wiki/Copper" title="Copper">Copper</a></li> <li><a href="/wiki/Lead" title="Lead">Lead</a></li> <li><a href="/wiki/Molybdenum" title="Molybdenum">Molybdenum</a></li> <li><a href="/wiki/Nickel" title="Nickel">Nickel</a></li> <li><a href="/wiki/Steel" title="Steel">Steel</a></li> <li><a href="/wiki/Tin" title="Tin">Tin</a></li> <li><a href="/wiki/Zinc" title="Zinc">Zinc</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:6.5em;font-weight:normal;">Precious metals</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Gold" title="Gold">Gold</a></li> <li><a href="/wiki/Palladium" title="Palladium">Palladium</a></li> <li><a href="/wiki/Platinum" title="Platinum">Platinum</a></li> <li><a href="/wiki/Silver" title="Silver">Silver</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Organizations</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Commodity_market" title="Commodity market">Commodity market</a></li> <li><a href="/wiki/Futures_contract" title="Futures contract">Futures contract</a></li> <li><a href="/wiki/Futures_exchange" title="Futures exchange">Futures exchange</a></li> <li><a href="/wiki/List_of_commodities_exchanges" title="List of commodities exchanges">List of commodities exchanges</a></li> <li><a href="/wiki/List_of_futures_exchanges" title="List of futures exchanges">List of futures exchanges</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Laws</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Commodity_Exchange_Act" title="Commodity Exchange Act">Commodity Exchange Act</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Miscellaneous</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Commodification" title="Commodification">Commodification</a></li> <li><a href="/wiki/Commoditization" title="Commoditization">Commoditization</a></li> <li><a href="/wiki/Commodification_of_nature" title="Commodification of nature">Commodification of nature</a></li> <li><a href="/w/index.php?title=Commodification_of_the_womb&action=edit&redlink=1" class="new" title="Commodification of the womb (page does not exist)">Commodification of the womb</a></li> <li><a href="/wiki/Commodification_of_water" title="Commodification of water">Commodification of water</a></li> <li><a href="/wiki/Commodity_status_of_animals" title="Commodity status of animals">Commodity status of animals</a></li> <li><a href="/wiki/Fictitious_commodities" title="Fictitious commodities">Fictitious commodities</a></li> <li><a href="/wiki/Heritage_commodification" title="Heritage commodification">Heritage commodification</a></li> <li><a href="/wiki/Value_(economics)" title="Value (economics)">Economic value</a></li> <li><a href="/wiki/Exchange_value" title="Exchange value">Exchange value</a></li> <li><a href="/wiki/Price" title="Price">Price</a></li> <li><a href="/wiki/Use_value" title="Use value">Use value</a>/<a href="/wiki/Utility" title="Utility">utility</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/List_of_traded_commodities" title="List of traded commodities">List of traded commodities</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><style data-mw-deduplicate="TemplateStyles:r886047488">.mw-parser-output .nobold{font-weight:normal}</style></div><div role="navigation" class="navbox" aria-labelledby="Property" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Property_navbox" title="Template:Property navbox"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Property_navbox" title="Template talk:Property navbox"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Property_navbox" title="Special:EditPage/Template:Property navbox"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Property" style="font-size:114%;margin:0 4em"><a href="/wiki/Property" title="Property">Property</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">By owner</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Collective_ownership" title="Collective ownership">Collective</a></li> <li><a href="/wiki/Common_ownership" title="Common ownership">Common</a></li> <li><a href="/wiki/Communal_land" title="Communal land">Communal</a></li> <li><a href="/wiki/Community_property" title="Community property">Community</a></li> <li><a href="/wiki/Crown_land" title="Crown land">Crown</a></li> <li><a href="/wiki/Customary_land" title="Customary land">Customary</a></li> <li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Private_property" title="Private property">Private</a></li> <li><a href="/wiki/Public_property" title="Public property">Public</a></li> <li><a href="/wiki/Self-ownership" title="Self-ownership">Self</a></li> <li><a href="/wiki/Social_ownership" title="Social ownership">Social</a></li> <li><a href="/wiki/State_ownership" title="State ownership">State</a></li> <li><a href="/wiki/Unowned_property" title="Unowned property">Unowned</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">By nature</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Croft_(land)" title="Croft (land)">Croft</a></li> <li><a href="/wiki/Estate_in_land" title="Estate in land">Estate (landed)</a></li> <li><a href="/wiki/Intangible_property" title="Intangible property">Intangible</a></li> <li><a href="/wiki/Intellectual_property" title="Intellectual property">Intellectual</a> <ul><li><a href="/wiki/Indigenous_intellectual_property" title="Indigenous intellectual property">indigenous</a></li></ul></li> <li><a href="/wiki/Personal_property" title="Personal property">Personal</a></li> <li><a href="/wiki/Tangible_property" title="Tangible property">Tangible</a> <ul><li><a href="/wiki/Real_property" title="Real property">real</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commons" title="Commons">Commons</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Common_land" title="Common land">Common land</a></li> <li><a href="/wiki/Common-pool_resource" title="Common-pool resource">Common-pool resource</a></li> <li><a href="/wiki/Digital_commons_(economics)" title="Digital commons (economics)">Digital</a></li> <li><a href="/wiki/Global_commons" title="Global commons">Global</a></li> <li><a href="/wiki/Information_commons" title="Information commons">Information</a></li> <li><a href="/wiki/Knowledge_commons" title="Knowledge commons">Knowledge</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Theory</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bundle_of_rights" title="Bundle of rights">Bundle of rights</a></li> <li><a class="mw-selflink selflink">Commodity</a> <ul><li><a href="/wiki/Fictitious_commodities" title="Fictitious commodities">fictitious commodities</a></li></ul></li> <li><a href="/wiki/Common_good_(economics)" title="Common good (economics)">Common good (economics)</a></li> <li><a href="/wiki/Excludability" title="Excludability">Excludability</a></li> <li><a href="/wiki/First_possession_theory_of_property" title="First possession theory of property">First possession</a> <ul><li><a href="/wiki/Original_appropriation" title="Original appropriation">appropriation</a></li> <li><a href="/wiki/Homestead_principle" title="Homestead principle">homestead principle</a></li></ul></li> <li><a href="/wiki/Free-rider_problem" title="Free-rider problem">Free-rider problem</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgism</a></li> <li><a href="/wiki/Gift_economy" title="Gift economy">Gift economy</a></li> <li><a href="/wiki/Labor_theory_of_property" title="Labor theory of property">Labor theory of property</a></li> <li><a href="/wiki/Law_of_rent" title="Law of rent">Law of rent</a> <ul><li><a href="/wiki/Rent-seeking" title="Rent-seeking">rent-seeking</a></li></ul></li> <li><a href="/wiki/Legal_plunder" class="mw-redirect" title="Legal plunder">Legal plunder</a></li> <li><a href="/wiki/Natural_rights_and_legal_rights" title="Natural rights and legal rights">Natural rights</a></li> <li><a href="/wiki/Ownership" title="Ownership">Ownership</a></li> <li><a href="/wiki/Property_rights_(economics)" title="Property rights (economics)">Property rights</a> <ul><li><a href="/wiki/Primogeniture" title="Primogeniture">primogeniture</a></li> <li><a href="/wiki/Usufruct" title="Usufruct">usufruct</a></li> <li><a href="/wiki/Women%27s_property_rights" title="Women's property rights">women's</a></li></ul></li> <li><a href="/wiki/Right_to_property" title="Right to property">Right to property</a></li> <li><a href="/wiki/Rivalry_(economics)" title="Rivalry (economics)">Rivalry</a></li> <li><a href="/wiki/Tragedy_of_the_commons" title="Tragedy of the commons">Tragedy of the commons</a> <ul><li><a href="/wiki/Tragedy_of_the_anticommons" title="Tragedy of the anticommons">anticommons</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Applications</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Acequia" title="Acequia"><i>Acequia</i> (watercourse)</a></li> <li><a href="/wiki/Ejido" title="Ejido"><i>Ejido</i> (agrarian land)</a></li> <li><a href="/wiki/Estate_(law)" title="Estate (law)">Estate</a> <ul><li><a href="/wiki/Estate_(law)" title="Estate (law)">legal</a></li> <li><a href="/wiki/Literary_estate" title="Literary estate">literary</a></li> <li><a href="/wiki/Real_estate" title="Real estate">real</a></li></ul></li> <li><a href="/wiki/List_of_types_of_formally_designated_forests" title="List of types of formally designated forests">Forest types</a></li> <li><i><a href="/wiki/Huerta" title="Huerta">Huerta</a></i></li> <li><a href="/wiki/Inheritance" title="Inheritance">Inheritance</a> <ul><li><a href="/wiki/Executor" title="Executor">executor</a></li></ul></li> <li><a href="/wiki/Land_tenure" title="Land tenure">Land tenure</a></li> <li><a href="/wiki/Property_law" title="Property law">Property law</a> <ul><li><a href="/wiki/Alienation_(property_law)" title="Alienation (property law)">alienation</a></li> <li><a href="/wiki/Easement" title="Easement">easement</a></li> <li><a href="/wiki/Restraint_on_alienation" title="Restraint on alienation">restraint on alienation</a></li> <li><a href="/wiki/Real_estate" title="Real estate">real estate</a></li> <li><a href="/wiki/Title_(property)" title="Title (property)">title</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Rights</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Air_rights" title="Air rights">Air</a></li> <li><a href="/wiki/Exclusive_economic_zone" title="Exclusive economic zone">Fishing</a></li> <li><a href="/wiki/The_Scheduled_Tribes_and_Other_Traditional_Forest_Dwellers_(Recognition_of_Forest_Rights)_Act,_2006" title="The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006">Forest-dwelling (India)</a></li> <li><a href="/wiki/Freedom_to_roam" title="Freedom to roam">Freedom to roam</a></li> <li><a href="/wiki/Grazing_rights" title="Grazing rights">Grazing</a> <ul><li><a href="/wiki/Pannage" title="Pannage">pannage</a></li></ul></li> <li><a href="/wiki/Hunting" title="Hunting">Hunting</a></li> <li><a href="/wiki/Land_law#Land_rights" title="Land law">Land</a> <ul><li><a href="/wiki/Aboriginal_title" title="Aboriginal title">aboriginal</a></li> <li><a href="/wiki/Indigenous_land_rights" title="Indigenous land rights">indigenous</a></li> <li><a href="/wiki/Squatting" title="Squatting">squatting</a></li></ul></li> <li><a href="/wiki/Littoral_rights" title="Littoral rights">Littoral</a></li> <li><a href="/wiki/Mineral_rights" title="Mineral rights">Mineral</a> <ul><li><i><a href="/wiki/Bergregal" title="Bergregal">Bergregal</a></i></li></ul></li> <li><a href="/wiki/Right_of_way_(transit)" class="mw-redirect" title="Right of way (transit)">Right of way (transit)</a></li> <li><a href="/wiki/Right_of_way_(property_access)" class="mw-redirect" title="Right of way (property access)">Right of way (property access)</a></li> <li><a href="/wiki/Water_right" title="Water right">Water</a> <ul><li><a href="/wiki/Prior-appropriation_water_rights" title="Prior-appropriation water rights">prior-appropriation</a></li> <li><a href="/wiki/Riparian_water_rights" title="Riparian water rights">riparian</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Accumulation_by_dispossession" title="Accumulation by dispossession">Disposession</a>/<br /><a href="/wiki/Redistribution_of_income_and_wealth" title="Redistribution of income and wealth">redistribution</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bioprospecting" title="Bioprospecting">Bioprospecting</a> <ul><li><a href="/wiki/Biopiracy" title="Biopiracy">biopiracy</a></li></ul></li> <li><a href="/wiki/Collectivization_in_the_Soviet_Union" title="Collectivization in the Soviet Union">Collectivization</a></li> <li><a href="/wiki/Eminent_domain" title="Eminent domain">Eminent domain</a></li> <li><a href="/wiki/Enclosure" title="Enclosure">Enclosure</a></li> <li><a href="/wiki/Eviction" title="Eviction">Eviction</a></li> <li><a href="/wiki/Expropriation" class="mw-redirect" title="Expropriation">Expropriation</a></li> <li><i><a href="/wiki/Farhud" title="Farhud">Farhud</a></i></li> <li><a href="/wiki/Forced_displacement" title="Forced displacement">Forced migration</a> <ul><li><a href="/wiki/Population_transfer" title="Population transfer">population transfer</a></li> <li><a href="/wiki/Repatriation" title="Repatriation">repatriation</a></li></ul></li> <li><a href="/wiki/Illegal,_unreported_and_unregulated_fishing" title="Illegal, unreported and unregulated fishing">Illegal fishing</a></li> <li><a href="/wiki/Illegal_logging" title="Illegal logging">Illegal logging</a></li> <li><a href="/wiki/Land_Back" title="Land Back">Land Back</a></li> <li><a href="/wiki/Land_reform" title="Land reform">Land reform</a></li> <li><a href="/wiki/Legal_plunder" class="mw-redirect" title="Legal plunder">Legal plunder</a></li> <li><a href="/wiki/Piracy" title="Piracy">Piracy</a></li> <li><a href="/wiki/Poaching" title="Poaching">Poaching</a></li> <li><a href="/wiki/Primitive_accumulation_of_capital" title="Primitive accumulation of capital">Primitive accumulation</a></li> <li><a href="/wiki/Privatization" title="Privatization">Privatization</a></li> <li><a href="/wiki/Regulatory_taking" class="mw-redirect" title="Regulatory taking">Regulatory taking</a></li> <li><a href="/wiki/Slavery" title="Slavery">Slavery</a> <ul><li><a href="/wiki/Bride_buying" title="Bride buying">bride buying</a></li> <li><a href="/wiki/Human_trafficking" title="Human trafficking">human trafficking</a></li> <li>spousal <ul><li><a href="/wiki/Husband-selling" class="mw-redirect" title="Husband-selling">husband-selling</a></li> <li><a href="/wiki/Wife_selling" title="Wife selling">wife selling</a></li></ul></li> <li><a href="/wiki/Wage_slavery" title="Wage slavery">wage</a></li></ul></li> <li><a href="/wiki/Tax" title="Tax">Tax</a> <ul><li><a href="/wiki/Inheritance_tax" title="Inheritance tax">inheritance</a></li> <li><a href="/wiki/Poll_tax" title="Poll tax">poll</a></li> <li><a href="/wiki/Progressive_tax" title="Progressive tax">progressive</a></li> <li><a href="/wiki/Property_tax" title="Property tax">property</a></li></ul></li> <li><a href="/wiki/Theft" title="Theft">Theft</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Scholars<br /><span class="nobold">(<i>key work</i>)</span></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Frédéric Bastiat</a> <ul><li><i><a href="/wiki/The_Law_(Bastiat_book)" title="The Law (Bastiat book)">The Law</a></i></li></ul></li> <li><a href="/wiki/Ronald_Coase" title="Ronald Coase">Ronald Coase</a></li> <li><a href="/wiki/Friedrich_Engels" title="Friedrich Engels">Friedrich Engels</a> <ul><li><i><a href="/wiki/The_Origin_of_the_Family,_Private_Property_and_the_State" title="The Origin of the Family, Private Property and the State">The Origin of the Family, Private Property and the State</a></i></li></ul></li> <li><a href="/wiki/Henry_George" title="Henry George">Henry George</a> <ul><li><i><a href="/wiki/Progress_and_Poverty" title="Progress and Poverty">Progress and Poverty</a></i></li></ul></li> <li><a href="/wiki/Garrett_Hardin" title="Garrett Hardin">Garrett Hardin</a></li> <li><a href="/wiki/David_Harvey" title="David Harvey">David Harvey</a></li> <li><a href="/wiki/John_Locke" title="John Locke">John Locke</a> <ul><li><i><a href="/wiki/Two_Treatises_of_Government" title="Two Treatises of Government">Two Treatises of Government</a></i></li></ul></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a> <ul><li><i><a href="/wiki/Das_Kapital" title="Das Kapital">Das Kapital</a></i></li></ul></li> <li><a href="/wiki/Marcel_Mauss" title="Marcel Mauss">Marcel Mauss</a> <ul><li><i><a href="/wiki/The_Gift_(essay)" title="The Gift (essay)">The Gift</a></i></li></ul></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">John Stuart Mill</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Elinor Ostrom</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Karl Polanyi</a> <ul><li><i><a href="/wiki/The_Great_Transformation_(book)" title="The Great Transformation (book)">The Great Transformation</a></i></li></ul></li> <li><a href="/wiki/Pierre-Joseph_Proudhon" title="Pierre-Joseph Proudhon">Pierre-Joseph Proudhon</a> <ul><li><i><a href="/wiki/Property_is_theft!" class="mw-redirect" title="Property is theft!">What Is Property?</a></i></li></ul></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">David Ricardo</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Murray N. Rothbard</a> <ul><li><i><a href="/wiki/The_Ethics_of_Liberty" title="The Ethics of Liberty">The Ethics of Liberty</a></i></li></ul></li> <li><a href="/wiki/Jean-Jacques_Rousseau" title="Jean-Jacques Rousseau">Jean-Jacques Rousseau</a> <ul><li><i><a href="/wiki/The_Social_Contract" title="The Social Contract">The Social Contract</a></i></li></ul></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> <ul><li><i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a></i></li></ul></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> Categories: <a href="/wiki/Category:Property" title="Category:Property">Property</a></li> <li><a href="/wiki/Category:Property_law" title="Category:Property law">Property law</a> <ul><li><a href="/wiki/Category:Property_law_by_country" title="Category:Property law by country">by country</a></li></ul></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Population" style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Population" title="Template:Population"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Population" title="Template talk:Population"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Population" title="Special:EditPage/Template:Population"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Population" style="font-size:114%;margin:0 4em"><a href="/wiki/Population" title="Population">Population</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Major topics</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Demographics_of_the_world" title="Demographics of the world">Demographics of the world</a></li> <li><a href="/wiki/Demographic_transition" title="Demographic transition">Demographic transition</a></li> <li><a href="/wiki/Estimates_of_historical_world_population" title="Estimates of historical world population">Estimates of historical world population</a></li> <li><a href="/wiki/Population_growth" title="Population growth">Population growth</a></li> <li><a href="/wiki/Population_momentum" title="Population momentum">Population momentum</a></li> <li><a href="/wiki/Projections_of_population_growth" class="mw-redirect" title="Projections of population growth">Projections of population growth</a></li> <li><a href="/wiki/World_population" title="World population">World population</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Population_biology" title="Population biology">Population<br />biology</a></div></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Population_decline" title="Population decline">Population decline</a></li> <li><a href="/wiki/Population_density" title="Population density">Population density</a> <ul><li><a href="/wiki/Physiological_density" title="Physiological density">Physiological density</a></li></ul></li> <li><a href="/wiki/Population_dynamics" title="Population dynamics">Population dynamics</a></li> <li><a href="/wiki/Population_model" title="Population model">Population model</a></li> <li><a href="/wiki/Population_pyramid" title="Population pyramid">Population pyramid</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Population_ecology" title="Population ecology">Population<br />ecology</a></div></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Biocapacity" title="Biocapacity">Biocapacity</a></li> <li><a href="/wiki/Carrying_capacity" title="Carrying capacity">Carrying capacity</a></li> <li><span class="nowrap"><a href="/wiki/I_%3D_PAT" title="I = PAT">I = P × A × T</a></span></li> <li><a href="/wiki/Kaya_identity" title="Kaya identity">Kaya identity</a></li> <li><a href="/wiki/Malthusian_growth_model" title="Malthusian growth model">Malthusian growth model</a></li> <li><a href="/wiki/Overshoot_(population)" title="Overshoot (population)">Overshoot (population)</a></li> <li><a href="/wiki/World3" title="World3">World3 model</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Society and<br /> population</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Eugenics" title="Eugenics">Eugenics</a></li> <li><a href="/wiki/Dysgenics" title="Dysgenics"><i>Dys</i>genics</a></li> <li><a href="/wiki/Human_overpopulation" title="Human overpopulation">Human overpopulation</a> <ul><li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusian catastrophe</a></li></ul></li> <li><a href="/wiki/Human_population_planning" title="Human population planning">Human population planning</a> <ul><li><a href="/wiki/Compulsory_sterilization" title="Compulsory sterilization">Compulsory sterilization</a></li> <li><a href="/wiki/Family_planning" title="Family planning">Family planning</a></li> <li><a href="/wiki/One-child_policy" title="One-child policy">One-child policy</a></li> <li><a href="/wiki/Two-child_policy" title="Two-child policy">Two-child policy</a></li></ul></li> <li><a href="/wiki/Overconsumption_(economics)" title="Overconsumption (economics)">Overconsumption</a></li> <li><a href="/wiki/Political_demography" title="Political demography">Political demography</a></li> <li><a href="/wiki/Population_ethics" title="Population ethics">Population ethics</a> <ul><li><a href="/wiki/Antinatalism" title="Antinatalism">Antinatalism</a></li> <li><a href="/wiki/Mere_addition_paradox" title="Mere addition paradox">Mere addition paradox</a></li> <li><a href="/wiki/Natalism" title="Natalism">Natalism</a></li> <li><a href="/wiki/Non-identity_problem" class="mw-redirect" title="Non-identity problem">Non-identity problem</a></li> <li><a href="/wiki/Reproductive_rights" title="Reproductive rights">Reproductive rights</a></li></ul></li> <li><a href="/wiki/Sustainable_population" title="Sustainable population">Sustainable population</a></li> <li><a href="/wiki/Zero_population_growth" title="Zero population growth">Zero population growth</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Publications</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0;font-style:italic;"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Population_and_Environment" title="Population and Environment">Population and Environment</a></li> <li><a href="/wiki/Population_and_Development_Review" title="Population and Development Review">Population and Development Review</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Lists</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Population_and_housing_censuses_by_country" title="Population and housing censuses by country">Population and housing censuses by country</a></li> <li><a href="/wiki/List_of_largest_cities" title="List of largest cities">Largest cities</a></li> <li><a href="/wiki/World_population_milestones" title="World population milestones">World population milestones</a> <ul><li><a href="/wiki/Day_of_Six_Billion" title="Day of Six Billion">6 billion</a></li> <li><a href="/wiki/Day_of_Seven_Billion" title="Day of Seven Billion">7</a></li> <li><a href="/wiki/Day_of_Eight_Billion" title="Day of Eight Billion">8</a></li></ul></li> <li><a href="/wiki/List_of_population_concern_organizations" title="List of population concern organizations">Population concern organizations</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Events and<br />organizations</div></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/7_Billion_Actions" title="7 Billion Actions">7 Billion Actions</a></li> <li><a href="/wiki/Church_of_Euthanasia" title="Church of Euthanasia">Church of Euthanasia</a></li> <li><a href="/wiki/International_Conference_on_Population_and_Development" title="International Conference on Population and Development">International Conference on Population and Development</a></li> <li><a href="/wiki/Population_Action_International" title="Population Action International">Population Action International</a></li> <li><a href="/wiki/Population_Connection" title="Population Connection">Population Connection</a></li> <li><a href="/wiki/Population_Matters" title="Population Matters">Population Matters</a></li> <li><a href="/wiki/United_Nations_Population_Fund" title="United Nations Population Fund">United Nations Population Fund</a></li> <li><a href="/wiki/United_Nations_world_population_conferences" title="United Nations world population conferences">United Nations world population conferences</a></li> <li><a href="/wiki/Voluntary_Human_Extinction_Movement" title="Voluntary Human Extinction Movement">Voluntary Human Extinction Movement</a></li> <li><a href="/wiki/World_Population_Conference" title="World Population Conference">World Population Conference</a></li> <li><a href="/wiki/World_Population_Day" title="World Population Day">World Population Day</a></li> <li><a href="/wiki/World_Population_Foundation" title="World Population Foundation">World Population Foundation</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related topics</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bennett%27s_law" title="Bennett's law">Bennett's law</a></li> <li><a href="/wiki/Green_Revolution" title="Green Revolution">Green Revolution</a></li> <li><a href="/wiki/Human_impact_on_the_environment" title="Human impact on the environment">Human impact on the environment</a></li> <li><a href="/wiki/Human_migration" title="Human migration">Migration</a></li> <li><a href="/wiki/Sustainability" title="Sustainability">Sustainability</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow hlist" colspan="2"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="Commons page"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png" decoding="async" width="12" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/18px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/24px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></span></span> <b><a href="https://commons.wikimedia.org/wiki/Category:Human_populations" class="extiw" title="commons:Category:Human populations">Commons</a></b></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Population" title="Category:Population">Category</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox authority-control" aria-label="Navbox" style="padding:3px"><table class="nowraplinks hlist navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Help:Authority_control" title="Help:Authority 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