Costs are transmitted to society as a result of producers' negative externalities, which causes enterprises to have reduced production costs and supply curves that are below the entire cost of providing their commodities.
A basic good that is interchangeable with other items of the same type in trade is referred to as a commodity. The most frequent use of commodities is as raw materials for the creation of other products or services. Consequently, a commodity typically refers to a raw material utilized to create finished items.
The final good that is sold to customers is referred to as a product, though. A particular commodity's quality may vary slightly amongst producers, but it is essentially constant. Commodities must also satisfy a basis grade, or a set of minimal requirements, in order to be traded on an exchange.
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