[Solved] Using options to place a bet on the direction in which you believe the market is likely to move is called: A)speculation. B)hedging. C)a covered position. D)a naked position. Limited LLC Member: A member of a limited liability company who has invested in the company but does not have a say in the day-to-day management or operations. Management Decisions: Choices and actions taken by the management of an organization regarding its operations, strategic direction, and allocation of resources. Limited Liability: A legal structure that shields owners' personal assets from the debts and liabilities of the business. General Partners: Individuals in a partnership who are responsible for the management of the partnership and are personally liable for its debts.