fungible |
Definition
Uniform, interchangeable, and substitutable—like cash for cash, corn for corn, and gold for gold. A commodity must be fungible before it can be traded on a commodity exchange. If two manufactured goods are fungible, they are treated as commodities and must compete only on the basis of price and/or availability. Shares of a firm, even if bought at different prices at different times, are fungible.
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fungible is in the Commodities & Precious Metals Trading subject.
fungible appears in the definition of the following term: produce
fungible appears in these other term: fungible products
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