"commodity economy" is a correct and usable phrase in written English.
It is used to describe an economic system in which goods and services are produced, distributed, and consumed mainly through the trading or exchange of commodities, which are goods produced in large quantities at relatively low costs. For example, "The country is transitioning from a manufacturing economy to a commodity economy, since commodity prices have become more reliable than the markets for manufactured goods."
(Wu called it "the commodity economy").
By the 17th century, however, this Charter had fallen victim to the rise of the commodity economy and capitalist practice and morality.
Figure 7 Conceptualizing economic differences between the bio-experience and commodity economy in drylands.
During the latest 12 months the Canadian service sector added 294,000 jobs".It's a common but inaccurate perception that Canada is a commodity economy," says Joshua Mendelsohn, chief economist of the Canadian Imperial Bank of Commerce in Toronto.
He also ominously notes that while the "commodity economy" might at first usher in a period of progress, "after an enormous extension of human control over nature, it finally hinders further development and drives humanity into a new barbarism" (p. 227).
This would not happen if they retained some independence from the global commodity economy.
Profile Because of its modest oil resources and favorable agricultural conditions, Cameroon has one of the best-endowed primary commodity economies in sub-Saharan Africa.
If oil prices were to go up a lot, then its fine, it's a one-commodity economy and Russia is a one-commodity country.
"There is also a bizarre situation where some of the oil-producing countries do not wish to give up their discounts on peacekeeping because, they say, they have single-commodity economies and they are vulnerable if oil goes to $8 a barrel," he said.
"This year we were punished by the weak euro, high interest rates and low agricultural commodity prices," Economy Minister Jose Luis Machinea told reporters today, "and those factors are now changing for the better".
Canadian inflation is just 0.7%, which sounds good, but in a commodity-based economy a little inflation isn't a bad thing.
