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What is a fungibility?

What is a fungibility? Here are some definitions.

Noun
  1. the property of a good or a commodity whereby individual units are capable of mutual substitution.
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Examples
Finally, in Germany's view, no premium is justified either for the lack of fungibility of the promotion-related assets.
This is important in particular when considering the fungibility of public finances.
It has multiple aspects, including the denial of autonomy and subjectivity and the ideas of ownership, fungibility, and violability.
We know that a considerable amount of the excise tax does not go to the roading fund, and it is the fungibility of money that is the problem.
Here again the same question of sustainability arises, to which a question on the fungibility of funds may be added.
A proliferation of fuel specifications has been imposed on an inflexible distribution system, reducing the global and regional fungibility of refined oil products.

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