Definition

A system in which a single metal is used as the only standard for currency and monetary value.

Example

The country adopted monometallism to stabilize its economy by using only gold as its currency standard.

Conversation

Have you ever heard of monometallism?

Yeah, it's the idea of using just one metal for currency, right?

Exactly! I think it's interesting how it simplifies the monetary system.

It really does, but I wonder how it affects trade with other countries.

Synonyms & Antonyms

Root Explanation

Monometallism is formed from "mono-" (meaning one) and "metallum" (meaning metal in Latin). The term refers to a monetary system based on a single metal, typically gold or silver, as the standard for currency.

Memory Tip

Think of 'mono-' meaning one, and 'metallum' meaning metal — this helps you remember that monometallism refers to a system using one type of metal for currency.

Visually Confused Words