A commodity is a labor product that is produced for exchange (or used for exchange) and is useful to others or society.

Or a simple definition is that goods are labor products for exchange.

First, as a commodity, it must first be the product of labor. In other words, if it is not the product of labor, it cannot be a commodity. For example, the air and sunshine in nature are necessary for human life, but they are not the products of labor, so they cannot be called commodities.

Second, as a commodity, it must also be used for exchange. Commodities can never be separated from exchange. In other words, even if it is not used for exchange, it cannot be called a commodity. For example, in ancient times, the traditional family production, the grain planted and the cloth woven by men and women were all products of labor, but they were only for family members' own use, not for exchange with others, so they were not commodities.

Third, it is useful to others or society. Without use, there will be no exchange, only with use can there be exchange.

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Goods in a broad sense can be not only tangible products (goods in a narrow sense), but also intangible services (such as "insurance products" and "financial products").

In trademark law affairs, the relevant provisions applicable to goods in a narrow sense also apply to services.

The basic attributes of commodities are value and use value.