Definition of Standard

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TeachMeFinance.com - explain Standard




historic definition...

Standard -- In its relation to money standard means the measure or basis of value. A country where gold alone is by law the basis of value has a single standard ; where silver alone is by law the basis of value the country has a single standard. Where both gold and silver are used, the one in fixed proportion to the other, the country has a double standard or bimetallic standard. A country using paper money alone has no standard. For additional information see Monetary standard.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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