A Futures Contract ________

question 21

Multiple Choice

A futures contract ________.

• A)is a contract to be signed in the future by the buyer and the seller of a commodity
• B)is an agreement to buy or sell a specified amount of an asset at a predetermined price on the expiration date of the contract
• C)is an agreement to buy or sell a specified amount of an asset at whatever the spot price happens to be on the expiration date of the contract
• D)gives the buyer the right, but not the obligation, to buy an asset at some time in the future

---

Definitions:

Long-Term Orientation

A cultural value that emphasizes the virtues of planning for the future and delaying gratification.

Individualism

A theory in sociology that prioritizes individual autonomy over the control of groups or government.

Cultural Value

The shared beliefs, norms, and practices that are significant within a specific culture, influencing behaviors, attitudes, and perceptions.

Individualism

A social theory favoring freedom of action for individuals over collective control and emphasizing the importance of individual self-reliance and personal independence.