In the sense of finance, a commodity is an economic good that is the subject of trading. As an item of commodity turnover, a commodity is often a means of sustaining life. By definition, commodities are limited, sometimes merchandise, movable economic goods that serve to satisfy needs. Because they have exchange value, they are items of trade.
However, in a broader sense, the term merchandise can certainly also mean services. In business, a distinction is made between group A goods, group B goods and group C goods. A goods are goods that are completely free of blemishes. Group B goods, on the other hand, relate to sales items that fall outside the basic scope of a retailer’s moves because, for example, they are no longer in their actual packaging. These goods are usually offered at a specific price. C-goods are unchecked returned goods, which are excluded from guarantee or return.
In the case of merchandise, in contrast to a service, the focus is on the production and the element value of the goods. In finance theory, the term merchandise is synonymous with all goods that are offered and demanded. Electricity can only be assigned to the term commodity in commercial law and in a broader sense. In customs law, all tangible, physical items are usually referred to as goods. Excluded are people and things firmly attached to a body. These include, for example, cardiac pacemakers or implants. In customs law, a distinction is also made between so-called merchandise goods and non goods. Union goods are all goods that either enter the Union from a third country outside the Union and have been released for free movement of goods, or are goods that have been wholly manufactured or obtained in the customs territory of the Union.
In pre-capitalist systems, peasants tended to be the largest group within a society. The products produced were mainly used for private use and not traded. The basic value of these products was therefore assessed individually. With the beginning of industrialization and the onset of capitalism, manufactured items were increasingly exchanged on markets. As a result, the products became merchandise goods, commodities that were assigned an individual exchange value as a benchmark.
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