Скачать или смотреть Commodity vs. Product: What's the Difference?

Topics for our classes
#commodity #commoditymarket #product #commodityprice #gold #oil #crudeoil #commodityrate #financialmarkets #commodity_prices #xauusd #commoditymarketupdates #commodities #tradingcommodities #etf #etfs #stock #stocks #stockmarket #stocktrading
#englishspeaking #finance #financeenglish #financialenglish #englishfofinance #accountingandfinanceforbankers #englishspeaking
Although they are often confused and may sometimes be used interchangeably, the terms commodity and product are somewhat different when used by traders today. A commodity often refers to a raw material used to manufacture finished goods. A product, on the other hand, is the finished good sold to consumers.

Both commodities and products are part of the production and manufacturing process; the main difference being where they are in the chain. Commodities are typically in the early stages of production, while products fall at the final stage.

Commodities
A commodity is a basic good used as an input in the production of goods and services. That means companies use commodities in the manufacturing process to turn them into everyday goods. Commodities are found in the majority of goods that end up in the hands of consumers, including tires, tea, ground beef, orange juice, and clothing.

Some of the most common commodities include copper, crude oil, wheat, coffee beans, and gold. Commodities can be further broken down into two different categories: hard and soft commodities. Soft commodities are those that are grown and cannot be stored for extended periods. Examples include coffee, cocoa, orange juice, and sugar. Hard commodities are those that can be mined or extracted from the earth, such as metals and petroleum products.

Products
A product can be differentiated, and value can be added by the manufacturer and through branding and marketing. Products are made using commodities and are then put on the market and sold to consumers.

Products, which are also referred to as consumer goods or final goods, are purchased for consumption by the average consumer.

Products are typically classified as either durable or consumable goods. Durable consumer goods, such as appliances, furnishings, and jewelry, are generally long-lasting and purchased infrequently. Consumable goods, which include gas, groceries, and tobacco products, are used quickly or need frequent replacement.

Products are also traded and found in many investment portfolios. Companies that produce consumable goods are generally considered safe investments based on their relative stability and historical performance.

Since people still need to purchase basic goods even in a faltering economy, the demand for consumables remains strong through economic or market fluctuations. Despite their stability, consumable goods are sensitive to competition and to changes in the prices of the commodities used to make the consumable goods.

.................................................................

Like and Follow for more information about trending news, the global economy, new English vocabulary, and essential economic concepts.

Follow our channel for more tips:    / @iuliahalatz6344  

Looking to level up your English-speaking game? Whether it’s nailing those corporate presentations, acing employment interviews, or slaying any public speaking situation, I’m here to help you shine! Let’s unlock your full potential together!

Join our courses!
[email protected]