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Non-fungible items are not substitutable in the same manner. Goods that are fungible are treated as commodities, and markets in commodities are active and liquid because of their fungibility. For example, gold is generally fungible because its value does not depend on any specific form, whether of coins, ingots, or other states. However, a ...
For example, milk, eggs, and notebook paper are not differentiated by many customers; for them, the product is fungible and lowest price is the main decisive factor in the purchasing choice. Other customers take into consideration other factors besides price, such as environmental sustainability and animal welfare.
If there is the quality xxxxxxx which an object has then it has xxxxxxxity. That many things are readily tradeable for money does NOT make the money fungible. Fungibility is the quality a commodity has when one example of it can be readily exchanged for another example of the SAME commodity. Not a DIFFERENT commodity - that's tradeability.
Commodity [2] [3] Contract size Currency Main exchange Symbol Class III Milk: 200,000 lb: USD ($) Chicago Mercantile Exchange: DC Cash-settled Butter: 20,000 lb (~9 metric tons) USD ($) Chicago Mercantile Exchange: CB Non-fat Dry Milk: 44,000 lb (~22 metric tons) USD ($) Chicago Mercantile Exchange: GNF Whole milk powder: 1 metric ton: USD ...
Drugs, weapons and human trafficking. That's probably what comes to mind when thinking about the black market -- but the illegal trade is more varied than you may think, and it also encompasses ...
For example, different types of apples each have their own PLU code, as do different kinds of nuts, organic vs. non-organic lettuce, and so on. The stickers also usually contain barcodes for easy ...
For example, it sent 10,000 in April 2021 at the request of President Joe Biden, who didn’t need to threaten to pitch America’s southern neighbor into a recession to get it to act.
Commodity money value comes from the commodity out of which it is made. The commodity itself constitutes the money, and the money is the commodity. [ 32 ] Examples of commodities that have been used as mediums of exchange include gold, silver, copper, rice, Wampum , salt, peppercorns, large stones, decorated belts, shells, alcohol, cigarettes ...