Futures Exchanges Standardize Nonstandard Forward Contracts, Establishing Such Features as Contract

question 16

True/False

Futures exchanges standardize nonstandard forward contracts, establishing such features as contract size, delivery dates, and grades that can be delivered. Only the price and number of contracts are left for futures traders to negotiate.

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Definitions:

Social Deficiencies

Refers to the lack of social skills or abilities that prevents individuals from interacting effectively within a society or certain social situations.

Physiological Deficiencies

Lack or shortage in the body of essential nutrients or substances required for normal biological functioning.

Physiological Needs

Physiological needs are the basic requirements for human survival, such as air, food, water, shelter, clothing, and warmth, which must be met before individuals can focus on higher-level needs.

Esteem Needs

Psychological requirements for respect, self-esteem, and recognition, as part of Maslow's hierarchy of needs.