standard of value

Definition of standard of value

: the commodity that is made the measure of value in any comparison of values specifically : the basis of value in the monetary system — compare gold standard

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Cite this Entry

“Standard of value.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/standard%20of%20value. Accessed 23 Sep. 2020.

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