Examlex
Related to the Economics in Practice on page 282. In January 2012
Acceptable Price Range
The range of prices within which buyers and sellers are willing to transact, often determined by market conditions and personal valuation.
Commodity Grade
A classification standard that specifies the quality and condition of commodities to ensure they meet minimum standards for trading.
Basis
The difference between the spot price of an asset and the futures price of the same asset.
Long Hedger
An investor who purchases futures contracts or the underlying asset to protect against potential price increases.
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