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The word 货 (huò) is a more general term for goods, commodities, currency, or money. It can also be used in a derogatory way to refer to a person (calling names, cursing).
The word 商品 (shāngpǐn) is more specific and refers to goods or commodities that are bought and sold in a market. It does not have the same derogatory meaning as 货.
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