| I’m not a big fan of the word “commodity.” At least, not in how economists would define the term. Sure, it is a perfectly good word with a perfectly reasonable meaning – a product or service that is in demand, but that is not qualitatively distinguishable in the marketplace.
But it also is a word with a built in excuse, because if something is a commodity, that means it is difficult, maybe even impossible, to differentiate it in the marketplace. Not true. Not by a long shot...........................................Full Article: Source
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