Futures contracts __________ traded on an organized exchange, and forward contracts __________ traded
on an organized exchange.
In a futures contract, the futures price is
The buyer of a futures contract is said to have a __________ position, and the seller of a futures contract is
said to have a __________ position in futures.
Investors who take long positions in futures agree to __________ of the commodity on the delivery date,
and those who take the short positions agree to __________ of the commodity.
A. make delivery; take delivery
. take delivery; make delivery
C. take delivery; take delivery
D. make delivery; make delivery
E. negotiate the price; pay the price
The terms of futures contracts, such as the quality and quantity of the commodity and the delivery date, are