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question 13

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Answer the following questions :
-unions


Definitions:

Orange Juice

A commodity traded on futures markets, representing frozen concentrated orange juice.

Futures Contracts

Legal agreements to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future.

Standardized

Made uniform in format and structure, facilitating comparison and assessment across different instances or entities.

Forward Contracts

A non-standardized agreement between two parties to buy or sell an asset at a specified future time at a price agreed upon today.

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