Quizzes at Fun Trivia Fun Trivia | quizzes Quizzes | games Games | community People | services Services | help Help | me Me
New Player - Log In
Currently 7388 players online.   Trivia games, quizzes, and contests - FREE !     Get Started! quiz register


  • New Questions

  • Unanswered

  • Revisited

  • Your Questions


  • Post a Question
  • Goto Qn #



    111,125 questions asked
    383,099 replies


    Archives

    What is the exact definition of a commodity? Does it have any connection to an industrial economy? What is an industrial economy?

    Question #37777. Asked by greg9570.

    ajdale

    According to The Reader's Digest Great Encyclopaedic Dictionary, "commodity" is noun meaning "Useful thing; article of trade".

    An industrial economy is one which has experienced an industrial revolution, meaning that the population are engaged more in industry than agriculture. In an agricultural economy almost the entire population is employed in agriculture because their farming processes are not sufficiently developed for them to produce any surplas food. In todays developed countries only a small fraction of the population is involved in agriculture, yet they produce enough food to support themselves and the rest of the people who are employed in industry. The products of thsese industries are commodities. Hope that makes sense...

    Aug 21 03, 5:18 PM

    Create a Free FunTrivia ID to add to, request more/new answers, or edit this entry

    Other Similar Questions & Answers


    What is the definition of a free enterprise, and what impact does it have on the economy?

    What is the connection between a record Oscar winner, the kidnapping of a Vice-President, and a Swedish industrial magnate?

    According to legend, it was discovered by an emperor or a religious figure as the result of an accident. In another country, its use was originally confined to the upper classes and an entire culture developed around it, while it is said to have arrived in yet a third nation with a princess and to have played a role in the Industrial Revolution. It is also a famous symbol of a certain political rebellion. What is it?

    An African country produces over half the world's supply of a particular product. Reliance on this product meant that the country's economy took a downturn due to a change made by a US company which was fortunately later reversed. What are the country, the product and the company involved?

    Suggested Related FunTrivia Quizzes - 90,000 currently online

    1 Industrial Revolution
    This quiz is focused on industrialization in England. It is fairly basic and should be quite easy.
    Industrial Revolution Tough
    10 Q
    personx
    Jun 11 03
    2286 plays
    2 Economy and Industry in the Third Reich
    Questions are based on (and thus supported by) Adam Tooze's 2006 work "The Wages of Destruction". I've tried to keep this as general as possible, but you'd better know your stuff!
    European War Very Difficult
    10 Q
    iron2
    Nov 30 07
    741 plays
    3 Random Industrial Questions
    This are few questions concerning industrial music.
    Industrial Very Difficult
    10 Q
    The_Ikon
    Feb 03 01
    435 plays


    "Ask FunTrivia" is for entertainment purposes only, and answers offered are unverified and unchecked by FunTrivia. We cannot guarantee the accuracy or veracity of ANY statement posted. Feel free to post an updated response if you feel that an answer is inadequate or incorrect. Please thoroughly research items where accuracy is important to you using multiple reliable sources. By accessing our website, you agree to be bound by our terms of service.