22 lines
646 B
Markdown
22 lines
646 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-1-chapter-05 -->
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# Nominal Measure of Value
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## Definition
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The conventional standard used to express the price of commodities, typically money, which provides a convenient but less accurate representation of true value compared to labour as the real measure.
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## Source Chapter
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Book I, Chapter 5
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## Context
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Smith explains that while money serves as the common nominal measure, it is less accurate than labour because the value of money itself fluctuates with changes in the value of gold and silver.
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## Economic Domain
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Exchange
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---
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