CommissionFloor Brokers

question 125

Multiple Choice

CommissionFloor brokers:

• A)act as agents to execute customers' orders for securities purchases and sales
• B)assist specialists in executing orders
• C)trade for their own accounts
• D)all the above
• E)none of the above

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Definitions:

VCR

A video cassette recorder, a device once commonly used to play and record television programs and movies on magnetic tape.

Perfect Substitutes

Goods or services that can be used in exactly the same way, thus one can completely replace another in consumption.

Marginal Rate of Substitution

The speed at which a consumer is prepared to exchange one product for another while keeping their overall satisfaction constant.

Utility Maximizing

The process or behavior of consumers attempting to get the greatest amount of satisfaction from their consumption choices, subject to their income and the prices of goods and services.