Capable of being exchanged for or replaced by something of equal value. Synonym:convertible.
3.
Capable of replacing or changing places with something else; permitting mutual substitution without loss of function or suitability. Synonyms:interchangeable, similar, standardised, standardized."Interchangeable parts"
... use become value in exchange? For it should be noticed that the two kinds of value, although coexisting in thought (since the former becomes apparent only in the presence of the latter), nevertheless maintain a relation of succession: exchangeable value is a sort of reflex of useful value; just as the theologians teach that in the Trinity the Father, contemplating himself through all eternity, begets the Son. This generation of the idea of value has not been noted by the economists with sufficient care: it is important that ... — The Philosophy of Misery • Joseph-Pierre Proudhon
... habit of giving to a picture of average size. Considering labour as the origin of value, therefore, the stone so highly wrought would be of greater value than the picture; and since also it is capable of producing a large number of immediately saleable or exchangeable impressions, for which the "demand" is constant, the city of Paris naturally supposed itself, and on all hitherto believed or stated principles of political economy, was, infinitely richer in the possession of a large ... — The Crown of Wild Olive • John Ruskin
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