A Commodity is a good or service.
- An Industry can make more than one Commodity.
- A Commodity can be produced by more than one Sector.
- There are some Commodities that are “not a unique Commodity” because some Sectors produce the same Commodity.
Commodity Output Events are most appropriate to use when an analyst knows there is a change in commodity demand or production but doesn’t know which industries or institutions will meet that demand. The sum of the sources of a Commodity is called Commodity Supply. The portion of Commodity Supply that comes from each source is called a Market Share. When a Commodity Output Event is modeled in IMPLAN, the Event Value is distributed to the suppliers of the Commodity based on the Market Shares for the Commodity. Shares of the Commodity Output allocated to any of IMPLAN’s 536 Sectors will be applied to the Sectors Production Function.