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| | Commodity |
 | | It is the contract and this underlying standard that define the commodity, not any inherent quality of it as a living organism as such. |
 | | Some economists advise redefining every commodity and product market as a service market[?], wherein state inspections, market regulation, property rights enforcement, and other services previously assumed under classical economics to be the domain of the state, could be charged for. |
 | | If this advice were followed, the term commodity would still apply in human life analysis, or narrow domains such as relatively safe food goods, or industrial inputs (oil, screws, wireless spectrum) where quality is more or less standard globally, and there is little risk to life of any failure. |
| www.ebroadcast.com.au /lookup/encyclopedia/co/Commodity.html (469 words) |
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