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What Are the Three Different Types of Authority Identified by Max

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What are the three different types of authority identified by Max Weber? Explain each.


Definitions:

Futures Trading

Involves buying and selling futures contracts which are agreements to buy or sell an asset at a future date for a price that is decided now.

Cumulative Year-End

Refers to the aggregate total of something such as earnings or dividends at the end of a fiscal year.

Futures Market

An exchange where participants can engage in the trading of futures contracts that are standardized. These contracts stipulate the buying of certain quantities of a commodity or financial instrument at a fixed price, with delivery arranged for a designated future time.

Spot Prices

The present selling or buying price of an asset available for immediate transfer.

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