August 3, 2023

Commodities

A commodity is a product that is easily interchangeable with other products that perform the same function.

Soap.

Teaspoons.

Washing machines.

TVs.

Employees.

Customers.

Accountants.

Lawyers.

Management consultants.

 

Wherever there are many almost indistinguishible options, those things become a commodity.

To a potential buyer, the only thing that matters about them is their price.  Not how they are produced, or where, or who by.

 

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