fungible goods
- Commodities that are interchangeable by nature or established trading norms, where each unit is equal in value to another unit of the same type
- Crude oil, wheat, or rice can be considered as fungible goods since one unit is as good as another.
- Real estate is not among fungible goods because no two properties are exactly alike in value, location or characteristics.
- Markets for fungible goods like gold or silver are typically very liquid with large volumes traded daily.
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