Fungible
Adjective
Definition: (of a product or commodity) replaceable by another identical item; mutually interchangeable.
Synonyms: Interchangeable, Replaceable, Exchangeable
Antonyms: Unique, Non-interchangeable, Non-replaceable
- Gold is a fungible commodity, as each ounce is identical to another ounce.
- In the digital world, cryptocurrencies such as Bitcoin are fungible units of currency that can be traded and exchanged.
- Think of "fun + gible." Fun things can often be exchanged or replaced with something equally fun.
Etymology:
Late Middle English (in the sense 'something that serves in place of something else'): from medieval Latin fungibilis, from Latin fungi 'perform'.
Historical Usage:The term "fungible" originated from the medieval Latin term "fungibilis," which means "something that serves in place of something else." It has been used in the legal and economic contexts to describe products or commodities that can be readily replaced or exchanged with equivalent items.
Related Idioms:
None commonly associated with the word "fungible."
Explanation:While both terms refer to the replaceability of a product, "fungible" specifically relates to the interchangeability of commodities, whereas "perishable" refers to items that are likely to decay or spoil over time. It's important to distinguish between the two concepts.
Misconceptions:
Confusing "fungible" with "perishable."
Explanation:While both terms refer to the replaceability of a product, "fungible" specifically relates to the interchangeability of commodities, whereas "perishable" refers to items that are likely to decay or spoil over time. It's important to distinguish between the two concepts.