Words / N / Business

numeraire

noun

C2CEFR level
96/100Rarity: very rare
TechnicalRegister

A unit or good chosen as the standard against which the prices of all others are measured.

Setting gold as the numeraire, the model expresses every other price as a ratio to it.

Topic: Economics in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Economics