The Terms of Futures Contracts, Such as the Quality and Quantity

question 45

Multiple Choice

The terms of futures contracts, such as the quality and quantity of the commodity and the delivery date, are

• A) specified by the buyers and sellers.
• B) specified only by the buyers.
• C) specified by the futures exchanges.
• D) specified by brokers and dealers.
• E) None of the options are correct.

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Definitions:

Distributive Property

A property that allows one to multiply a sum by a number by multiplying each addend individually by the number.

Algebra

A field within mathematics that focuses on the use of symbols and the principles governing their manipulation, serving as a foundational basis for nearly the entirety of mathematical disciplines.

Terms

The individual elements or components of an expression, separated by plus or minus signs.

Equal

Signifying mathematical equivalency or equality between two expressions or entitites.