Fungible (adjective)

Describing a thing that can be replaced by an equivalent, such as a unit of currency, a commodity, or a security.

Origin:

The term 'fungible' is derived from the latin word 'fungibilis' meaning 'that which may be used interchangeably'.

Examples:

1. Gold is a fungible commodity, meaning that one ounce of gold is interchangeable with any other ounce of gold.
2. The company's assets are mostly made up of fungible securities that can be easily traded.
3. Fungible goods like wheat or corn are traded on commodities markets.
4. Fungible currencies like the US dollar or the Euro are widely accepted and traded globally.
5. Fungible resources, such as water or electricity, are subject to regulations to ensure fair distribution and pricing.