The Prime Function of an Organized Commodity Exchange Is to Furnish

question 19

Multiple Choice

The prime function of an organized commodity exchange is to furnish an established marketplace where:

• A) the forces of supply and demand operate freely.
• B) commodity prices can be controlled.
• C) sellers of the same commodity can come together to set prices.
• D) products that are difficult to grade can be traded.
• E) there are only a limited number of buyers and sellers.

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Definitions:

Roles

Roles refer to the expected behaviors, duties, and responsibilities associated with a particular social position or status within a group or society.

Norms

Shared standards of acceptable behavior within a society or group.

Decision Process

The cognitive process involved in choosing between different alternatives or developing strategies to address a problem or achieve a goal.

Taking Responsibility

The act of acknowledging and accepting the choices one has made, the actions one has taken, and the results they have led to.