The most commonly traded product ( by value) in recent yearss has been?

Question

a. steel

b televisions, streos, and VCRs

c. automobiles

d. wheat

Answer 1

Steel. It is the most essential commodity because other things can be manufactured from it. Infact, Wikipedia states that 'Because of the critical role played by steel in infrastructural and overall economic development, the steel industry is often considered to be an indicator of economic progress'.

Answer 2

a. steel

It is included into "b" and "c" and indirectly in "d" (in production process machinery are used) - even taking into account differences in value added of final products - anyway steel beats all listed goods, wheat is traded a lot but it's value is low.