What is a commoclities?

Answer 1

Commodities are basic goods or raw materials that can be bought and sold, typically used as inputs in the production of other goods or services. They are often standardized and interchangeable with other goods of the same type, such as oil, gold, wheat, or coffee. Commodities are traded on various exchanges and can be categorized into two main types: hard commodities, which are Natural Resources, and soft commodities, which are agricultural products. Their prices are influenced by supply and demand dynamics, geopolitical factors, and market speculation.