Monetary System (Noun)
Meaning
Anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The country's monetary system is based on a fiat currency that is not backed by any physical commodity.
- The government has implemented several reforms to stabilize the monetary system and prevent inflation.
- The use of cryptocurrencies is challenging the traditional monetary system and forcing governments to reevaluate their policies.
- Understanding the monetary system is crucial for businesses to make informed decisions about investments and pricing.
- The gold standard was once a widely used monetary system, but it has largely been replaced by fiat currencies.