Multiple Choice
A prime function of an organized commodity exchange is to furnish an established marketplace where:
A) commodity prices can be controlled.
B) sellers of the same commodity can come together to set prices.
C) products that are difficult to grade can be traded.
D) there are only a limited number of buyers and sellers.
E) the forces of supply and demand operate freely.
Correct Answer:

Verified
Correct Answer:
Verified
Q19: Costs incurred in the operation of a
Q20: Accepting a price discount for ordering larger
Q21: Governments typically play no role in establishing
Q22: When using competitive bidding to determine prices,the
Q23: Prices may not be directly related to
Q25: An escalator clause provides for an increase,but
Q26: Information regarding price trends cannot be easily
Q27: Indirect costs can be specifically and accurately
Q28: Online reverse auctions are useful means of
Q29: A payment bond protects the buyer against