What is tradition commodity?

Answer 1

A traditional commodity refers to a basic good used in commerce that is interchangeable with other goods of the same type, often serving as a raw material for production. Examples include agricultural products like wheat or corn, and Natural Resources like oil or gold. These commodities are typically standardized and traded on various markets, influencing prices based on supply and demand dynamics. Their value is largely determined by market conditions rather than branding or differentiation.