Which of the Following Are Specifically Stated in Futures Contracts

question 6

Multiple Choice

Which of the following are specifically stated in futures contracts?
I.the quantity of the commodity to be delivered
II.the quality of the commodity to be delivered
III.the exact price at which the commodity must be delivered
V.the time and place at which the commodity must be delivered

• A)I and II only
• B)II and IV only
• C)I, II and III only
• D)I, II and IV only

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Definitions:

Monopolistically Competitive

A market structure characterized by many sellers offering differentiated products, allowing for some degree of market power.

Fixed Costs

Costs that do not vary with the level of output or production, such as rent, salaries, and equipment maintenance.

Short Run

A period in economics during which some factors of production are fixed, affecting output levels and costing.

Monopolistically Competitive

A market structure characterized by many sellers offering differentiated products, leading to some degree of market power and price setting.