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Commodities
In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory. Popular commodities include crude oil, corn, and gold. Other definitions of commodity include something useful or valued and an alternative term for an econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Agriculture
Agriculture encompasses crop and livestock production, aquaculture, and forestry for food and non-food products. Agriculture was a key factor in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in the cities. While humans started gathering grains at least 105,000 years ago, nascent farmers only began planting them around 11,500 years ago. Sheep, goats, pigs, and cattle were domesticated around 10,000 years ago. Plants were independently cultivated in at least 11 regions of the world. In the 20th century, industrial agriculture based on large-scale monocultures came to dominate agricultural output. , small farms produce about one-third of the world's food, but large farms are prevalent. The largest 1% of farms in the world are greater than and operate more than 70% of the world's farmland. Nearly 40% of agricultural land is found on farms larger than . However, five of every six farm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Goods
In economics, goods are anything that is good, usually in the sense that it provides welfare or utility to someone. Alan V. Deardorff, 2006. ''Terms Of Trade: Glossary of International Economics'', World Scientific. Online version: Deardorffs' Glossary of International Economics"good" an Goods can be contrasted with bads, i.e. things that provide negative value for users, like chores or waste. A bad lowers a consumer's overall welfare. Economics focuses on the study of economic goods, i.e. goods that are scarce; in other words, producing the good requires expending effort or resources. Economic goods contrast with free goods such as air, for which there is an unlimited supply.Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill. Goods are the result of the Secondary sector of the economy which involves the transformation of raw materials or intermediate goods into goods. Utility and characteristics of goods The change in utility (pl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Rice
Rice is a cereal grain and in its Domestication, domesticated form is the staple food of over half of the world's population, particularly in Asia and Africa. Rice is the seed of the grass species ''Oryza sativa'' (Asian rice)—or, much less commonly, ''Oryza glaberrima'' (African rice). Asian rice was domesticated in China some 13,500 to 8,200 years ago; African rice was domesticated in Africa about 3,000 years ago. Rice has become commonplace in many cultures worldwide; in 2023, 800 million tons were produced, placing it third after sugarcane and maize. Only some 8% of rice is traded internationally. China, India, and Indonesia are the largest consumers of rice. A substantial amount of the rice produced in developing nations is lost after harvest through factors such as poor transport and storage. Rice yields can be reduced by pests including insects, rodents, and birds, as well as by weeds, and by List of rice diseases, diseases such as rice blast. Traditional rice polyc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Wheat
Wheat is a group of wild and crop domestication, domesticated Poaceae, grasses of the genus ''Triticum'' (). They are Agriculture, cultivated for their cereal grains, which are staple foods around the world. Well-known Taxonomy of wheat, wheat species and hybrids include the most widely grown common wheat (''T. aestivum''), spelt, durum, emmer, einkorn, and Khorasan wheat, Khorasan or Kamut. The archaeological record suggests that wheat was first cultivated in the regions of the Fertile Crescent around 9600 BC. Wheat is grown on a larger area of land than any other food crop ( in 2021). World trade in wheat is greater than that of all other crops combined. In 2021, world wheat production was , making it the second most-produced cereal after maize (known as corn in North America and Australia; wheat is often called corn in countries including Britain). Since 1960, world production of wheat and other grain crops has tripled and is expected to grow further through the middle of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Fungibility
In economics and law, fungibility is the property of something whose individual units are considered fundamentally interchangeable with each other. For example, the fungibility of money means that a $100 bill (note) is considered entirely equivalent to another $100 bill, or to twenty $5 bills and so on, and therefore a person who borrows $100 in the form of a $100 bill can repay the money with another $100 bill, with twenty $5 bills and so on. Non-fungible items are not considered substitutable in the same manner, even if essentially identical. Fungibility is an important concept in finance and commerce, where financial securities, currencies and physical commodities such as gold and oil are normally considered fungible. Fungibility affects how legal rights, such as the ownership of assets in custody and the right to receive goods under a contract, apply in certain circumstances, and it thereby simplifies trading and custody. Fungibility refers only to the equivalence and i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Maize
Maize (; ''Zea mays''), also known as corn in North American English, is a tall stout grass that produces cereal grain. It was domesticated by indigenous peoples in southern Mexico about 9,000 years ago from wild teosinte. Native Americans planted it alongside beans and squashes in the Three Sisters polyculture. The leafy stalk of the plant gives rise to male inflorescences or tassels which produce pollen, and female inflorescences called ears. The ears yield grain, known as kernels or seeds. In modern commercial varieties, these are usually yellow or white; other varieties can be of many colors. Maize relies on humans for its propagation. Since the Columbian exchange, it has become a staple food in many parts of the world, with the total production of maize surpassing that of wheat and rice. Much maize is used for animal feed, whether as grain or as the whole plant, which can either be baled or made into the more palatable silage. Sugar-rich varieties called sw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Caffeine
Caffeine is a central nervous system (CNS) stimulant of the methylxanthine chemical classification, class and is the most commonly consumed Psychoactive drug, psychoactive substance globally. It is mainly used for its eugeroic (wakefulness promoting), ergogenic (physical performance-enhancing), or nootropic (cognitive-enhancing) properties. Caffeine acts by blocking the binding of adenosine at a number of adenosine receptor types, inhibiting the centrally depressant effects of adenosine and enhancing the release of acetylcholine. Caffeine has a three-dimensional structure similar to that of adenosine, which allows it to bind and block its receptors. Caffeine also increases Cyclic adenosine monophosphate, cyclic AMP levels through nonselective Phosphodiesterase inhibitor, inhibition of phosphodiesterase, increases calcium release from intracellular stores, and Receptor antagonist, antagonizes GABA receptor, GABA receptors, although these mechanisms typically occur at concentrati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |