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Fungibility. In economics and law, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable. [1][2] In legal terms, this affects how legal rights (such as ownership and the right to receive goods under a contract) apply to such items. Fungible things can be substituted for each other; for ...
An exception to this exception is when there is special significance to the $1 bill itself, such as if it was the first dollar a person made in business and carries tremendous sentimental value, similar to the peppercorn rule. Fungible things do not have to be money, though. They can be grains stored in a silo, for example.
Substitute good. In microeconomics, substitute goods are two goods that can be used for the same purpose by consumers. [1] That is, a consumer perceives both goods as similar or comparable, so that having more of one good causes the consumer to desire less of the other good. Contrary to complementary goods and independent goods, substitute ...
The Philosophy of Money. The Philosophy of Money (1900; ‹See Tfd› German: Philosophie des Geldes) [1] is a book on economic sociology by German sociologist and social philosopher Georg Simmel. [2] Considered to be the theorist's greatest work, Simmel's book views money as a structuring agent that helps people understand the totality of life.
A non-fungible token (NFT) is a unique digital identifier that is recorded on a blockchain and is used to certify ownership and authenticity. It cannot be copied, substituted, or subdivided. [ 1 ] The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded.
For example, if power is fungible, then a state can translate its economic power into military power, and vice versa. . . . mydogategodshat 23:43, 6 Apr 2004 (UTC) It's possible, but adding that wording is a fairly significant change. It reads to me like any number of mutually exclusive things could follow "power".
v. t. e. Cost of goods sold (COGS) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion and other costs that are incurred ...
Take investment trends, which have gained quite a bit of exposure through pop culture exposure, as an example. “The rise of non-fungible tokens serves as a recent example,” said Alec Kellzi, a ...