Commodities in the construction industry - Revision history

Designing Buildings: moved Commodity to Commodities in the construction industry

2021-02-12T07:51:40Z

moved Commodity to Commodities in the construction industry

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Revision as of 07:51, 12 February 2021

Designing Buildings at 07:50, 12 February 2021

2021-02-12T07:50:55Z

← Older revision		Revision as of 07:50, 12 February 2021
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	* Working capital.		* Working capital.

−	[[Category:Theory]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Product_Knowledge]] [[Category:Theory]]

Designing Buildings at 15:29, 30 April 2019

2019-04-30T15:29:04Z

← Older revision		Revision as of 15:29, 30 April 2019
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−	In economics, a commodity is a basic good or service that cannot be differentiated from a product of the same type emanating from another producer – it is interchangeable with that product. Wherever encountered, the market treats the commodity (whether a good or service) as equivalent irrespective of manufacturer or country of origin. Examples include agricultural products (sugar, rice, wheat), raw materials (copper, iron, aluminium), steel and ~~currencies~~.	+	In economics, a commodity is a basic good or service that cannot be differentiated from a product of the same type emanating from another producer – it is interchangeable with that product. Wherever encountered, the market treats the commodity (whether a good or service) as equivalent irrespective of manufacturer or country of origin. Examples include agricultural products (sugar, rice, wheat), raw materials (copper, iron, aluminium), steel and so on.

	A kilogramme of copper of a specific purity cannot be differentiated from any other kilogramme of copper of the same purity, whether by mine, country of origin or smelter. This general lack of distinction means that commodities are usually sold on the basis of price which will be determined by market value.		A kilogramme of copper of a specific purity cannot be differentiated from any other kilogramme of copper of the same purity, whether by mine, country of origin or smelter. This general lack of distinction means that commodities are usually sold on the basis of price which will be determined by market value.
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	This quality of having little or no differentiation is called ‘fungibility’, and commodities are either fully- or substantially fungible. A further quality is that commodities are usually the basis for making other goods or services.		This quality of having little or no differentiation is called ‘fungibility’, and commodities are either fully- or substantially fungible. A further quality is that commodities are usually the basis for making other goods or services.

−	In contrast to commodities, goods such as cars may be highly differentiated in the market based on criteria such as the manufacturer, design, features, ~~petrol~~ consumption, etc.	+	In contrast to commodities, goods such as cars may be highly differentiated in the market based on criteria such as the manufacturer, design, features, fuel consumption, etc.

	In recent years, the definition of a commodity has expanded to include currencies, indexes, phone minutes and bandwidth.		In recent years, the definition of a commodity has expanded to include currencies, indexes, phone minutes and bandwidth.

Editor at 17:37, 24 April 2019

2019-04-24T17:37:38Z

← Older revision		Revision as of 17:37, 24 April 2019
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	* Cash flow forecast.		* Cash flow forecast.
	* Construction Supply Chain Payment Charter.		* Construction Supply Chain Payment Charter.
		+	* Equity and loan capital.
	* Fair payment practices for construction.		* Fair payment practices for construction.
		+	* Property development finance.
		+	* Working capital.

	[[Category:Theory]]		[[Category:Theory]]

Editor: Created page with "In economics, a commodity is a basic good or service that cannot be differentiated from a product of the same type emanating from another producer – it is interchangeable with ..."

2019-04-24T17:34:16Z

Created page with "In economics, a commodity is a basic good or service that cannot be differentiated from a product of the same type emanating from another producer – it is interchangeable with ..."

New page

In economics, a commodity is a basic good or service that cannot be differentiated from a product of the same type emanating from another producer – it is interchangeable with that product. Wherever encountered, the market treats the commodity (whether a good or service) as equivalent irrespective of manufacturer or country of origin. Examples include agricultural products (sugar, rice, wheat), raw materials (copper, iron, aluminium), steel and currencies.

A kilogramme of copper of a specific purity cannot be differentiated from any other kilogramme of copper of the same purity, whether by mine, country of origin or smelter. This general lack of distinction means that commodities are usually sold on the basis of price which will be determined by market value.

This quality of having little or no differentiation is called ‘fungibility’, and commodities are either fully- or substantially fungible. A further quality is that commodities are usually the basis for making other goods or services.

In contrast to commodities, goods such as cars may be highly differentiated in the market based on criteria such as the manufacturer, design, features, petrol consumption, etc.

In recent years, the definition of a commodity has expanded to include currencies, indexes, phone minutes and bandwidth.

= Related articles on Designing Buildings Wiki =

* Budget
* Business case.
* Business plan
* Cashflow.
* Cash flow forecast.
* Construction Supply Chain Payment Charter.
* Fair payment practices for construction.

[[Category:Theory]]