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numeraire

Line breaks: nu¦mer|aire
Pronunciation: /ˈnjuːmərɛː
 
/

Definition of numeraire in English:

noun

Economics
An item or commodity acting as a measure of value or as a standard for currency exchange.
Example sentences
  • Money therefore appears to be just a mere numeraire.
  • More practically, income could be measured as the money value, or value in some other numeraire, of the goods and services directly yielding utility, but only of those.
  • Labor can be a numeraire of profits, but that hardly justifies the labor theory of value, because many things can be numeraires.

Origin

1960s: from French numéraire, from late Latin numerarius, from Latin numerus 'a number'.

Definition of numeraire in:

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