The. What is it? A right? What does that mean? I have a right to speech in the US. The government doesn’t provide me a laptop and hosting. I have a right to keep arms. The government doesn’t give me a Ruger.
Definition of a commodity. In economics, a commodity is defined as a tangible good that can be bought and sold or exchanged for products of similar value. Natural resources such as oil as well as basic foods like corn are two common types of commodities. Like other classes of assets such as stocks, commodities have value and can be traded on open markets. And like other assets, commodities can fluctuate in price according to supply and demand.
Housing does not meet any of the criteria to be a commodity. Commodities are undifferentiated bulk products widely available from many sources in which profits are minimal. Housing by contrast is completely unique owing to its location. Housing cannot be transported. Housing is not an easily substituted good. Sorghum is a commodity. The house at the corner of Grand and Lake is not a commodity.
The. What is it? A right? What does that mean? I have a right to speech in the US. The government doesn’t provide me a laptop and hosting. I have a right to keep arms. The government doesn’t give me a Ruger.
Definition of a commodity. In economics, a commodity is defined as a tangible good that can be bought and sold or exchanged for products of similar value. Natural resources such as oil as well as basic foods like corn are two common types of commodities. Like other classes of assets such as stocks, commodities have value and can be traded on open markets. And like other assets, commodities can fluctuate in price according to supply and demand.
Housing does not meet any of the criteria to be a commodity. Commodities are undifferentiated bulk products widely available from many sources in which profits are minimal. Housing by contrast is completely unique owing to its location. Housing cannot be transported. Housing is not an easily substituted good. Sorghum is a commodity. The house at the corner of Grand and Lake is not a commodity.