从经济学角度看,商品具有以下两个性质。首先,它是一种商品,通常由许多不同的公司或制造商生产和/或销售。第二,生产和销售公司之间的质量是一致的。一个人的商品与另一家公司的区别是无法区分的。这种均匀性被称为可替代性。煤炭、黄金、锌等原材料都是按照统一的行业标准生产和分级的商品,这使得它们易于交易。然而,李维斯牛仔裤不会被认为是一种商品。衣服,虽然每个人都在使用,但被认为是成品,而不是基本材料。经济学家称之为产品差异化。并非所有的原材料都被认为是商品。与石油不同,天然气价格昂贵,无法在全球范围内运输,因此很难在全球范围内定价。相反,它通常是以地区为基础进行交易的。钻石是另一个例子,它们的质量差异太大,达不到作为分级商品出售所需的规模大小。被认为是一种商品也可以随着时间的推移而改变。洋葱在美国的大宗商品市场上交易,直到1955年,纽约农民文斯·科苏加和他的商业伙伴山姆·西格尔试图垄断市场。结果如何?Kosuga和Siegel充斥市场,赚取了数百万美元,消费者和生产者感到愤怒。1958年,国会通过《洋葱期货法》宣布洋葱期货交易为非法。像股票和债券一样,商品是在公开市场上交易的。在美国,大部分交易是在芝加哥贸易委员会或纽约商品交易所进行的,尽管一些交易也是在股票市场上进行的。这些市场为商品建立了交易标准和计量单位,使它们易于交易。例如,玉米合同是5000蒲式耳的玉米,价格以美分每蒲式耳为单位。商品通常被称为期货,因为交易不是为了立即交割,而是为了稍后的时间点,通常是因为种植、收获、提取和精炼某种商品需要时间。例如,玉米期货有四个交割日期:3月、5月、7月、9月或12月。在教科书的例子中,商品通常以边际生产成本出售,但在现实世界中,由于关税和其他贸易壁垒,价格可能更高。这种交易的好处是允许种植者和生产者提前支付他们的钱,给他们流动资金来投资他们的生意,获取利润,减少债务,或者扩大生产。买家也喜欢期货,因为他们可以利用市场下跌来增加持有量。与股市一样,大宗商品市场也容易受到市场不稳定的影响。商品价格不仅影响买家和卖家,还影响消费者。例如,原油价格的上涨可能导致汽油价格上涨,进而使货物运输成本更加昂贵。

新加坡国立大学金融Essay代写:商品的特质

From an economic point of view, commodities have the following two properties. First, it is a commodity, usually produced and/or sold by many different companies or manufacturers. Second, the quality between production and sales companies is consistent. The difference between one person’s goods and another company is indistinguishable. This uniformity is called substitutability. Coal, gold, zinc and other raw materials are produced and classified according to uniform industry standards, which makes them easy to trade. Nevertheless, Levis jeans are not considered a commodity. Clothes, although used by everyone, are considered finished products rather than basic materials. Economists call it product differentiation. Not all raw materials are considered commodities. Unlike oil, natural gas is expensive and cannot be transported globally, making it difficult to price it globally. Instead, it usually trades on a regional basis. Diamonds are another example, and their quality varies too much to match the size required to be sold as classified commodities. It is believed that a commodity can also change over time. Onions were traded in American commodity markets until 1955, when New York farmer Vince Kosuga and his business partner Sam Siegel tried to monopolize the market. What was the result? Kosuga and Siegel flooded the market, earning millions of dollars, and consumers and producers were angry. In 1958, Congress passed the Onion Futures Act to outlaw onion futures trading. Like stocks and bonds, commodities are traded on the open market. In the United States, most transactions are conducted on the Chicago Board of Trade or the New York Mercantile Exchange, although some are also conducted on the stock market. These markets establish trading standards and measurement units for commodities, making them easy to trade. For example, the corn contract is 5,000 bushels of corn at a price of cents per bushel. Commodities are often called futures because they are not traded for immediate delivery, but for a later time, usually because it takes time to plant, harvest, extract and refine a commodity. For example, corn futures have four delivery dates: March, May, July, September or December. In the case of textbooks, goods are usually sold at marginal cost of production, but in the real world, prices may be higher due to tariffs and other trade barriers. The benefits of such transactions are to allow growers and producers to pay their money in advance, to give them liquidity to invest in their businesses, to make profits, to reduce debt, or to expand production. Buyers also like futures because they can use market declines to increase their holdings. Like the stock market, commodity markets are vulnerable to market instability. Commodity prices affect not only buyers and sellers, but also consumers. For example, higher crude oil prices may lead to higher gasoline prices, which in turn makes freight transportation more expensive.

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