commodity: this word is not used very often in normal speech, especially as its dictionary definition. The most common way this is used in everyday speech is to describe something that is desirable: "the iphone has become a hot commodity." Often used as "hot commodity" when used in this sense. product: this is what a company makes or sells. You can describe almost anything physical that a company produces as a product. "Wal-Mart sells cheap products. Apple makes expensive products." goods: Very similar to product, but not used as often. ware: Hardly ever used in normal speech. It's an old fashioned word sometimes used when referring to something a street merchant would sell. An established company has "products" or "goods", but an unofficial street market person might have "wares". merchandise: Very common. Can be used like "product", or to describe products associated with someone or something: "They were selling Beatles merchandise at the concert."