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The commodity (of medium high German: (e) in Verwahrung taking was) forms the economic elementary form of the free-market economy. It is a material or immaterial property, which satisfies human needs by its characteristics, however only by exchange and/or purchase is acquisitionable. Characteristic of the commodity is that the social need is used, in order to require an economic equivalent; real goods are produced thus explicitly for the trade. This economic calculation assumes that in the society a form of money was established. One calls the process of to commodity becoming also Kommodifizierung.
The commodity is thus certain by two opposite factors:
As customs property (Commodities) it can work, if its material qualities make it useful for the consumption or the subsequent treatment; that does not differentiate the commodity however in relation to other kinds of goods, particularly with respect to former societies.
The translation of Commodities is meant a special form of commodity and: Commodities, customs property or Handelsartikel.Commodities are products, which are sold as mass-produced goods and mainly in their price from other products to differ. Both product quality and product properties are almost identical. As the further characteristic a Commodity does not possess any Differenzierungspotenzial.
This high exchangeability has the consequence that the manufacturer of a Commodity for the market is primarily irrelevant and so that also almost no customer connection exists. From this results a very small margin, which permits only a low service level, since the only competition advantage of a Commodity is a low price. Therefore completely clearly the competitive condition applies with Commodities that those is cost leader shank the striking competition advantage.
Commodities are often products, which were sold long time as "Specialties "(see specialties) with a relatively high margin of only few offerers. In consequence of the globalization urge new competitors, v. A. from the asiatic area, with cheap commodity into the market. These new cheap offerers have in the meantime the quality for many products crucially to improve or to adapt be able, why the product is not any more "a Specialty ", but "a Commodity "became.
The most important Commodities is internationally acted in firmly defined qualities at produce exchanges (e.g. Grain, metals, oil etc.). Important produce exchanges are among other things in New York (New York Metal Exchange/NYMEX), Chicago and London.
Although the origin of the commodity into the prehistory goes back, goods production remained in all former societies an exception; only with the arising of capitalistic production conditions it became the determining economic purpose.
With instead of the commodity Optionsscheine (a kind of predated sales contracts) are acted. To the place of the material goods securities step, since the acted commodity does not exist yet or is not available for the trade yet.
By letting or leasing the commodity changes temporarily into the possession of the receiver, however property of the offerer remains. The price depends on the service life or use quantity and usually continued for fixed time periods is raised or (when brief use, e.g. with renting cars) after conclusion of the utilization period accounted for.
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