GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Commodity
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Contract
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Database
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Merger
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Detailed explanation-1: -commodity exchange, also called Futures Market, or Futures Exchange, organized market for the purchase and sale of enforceable contracts to deliver a commodity such as wheat, gold, or cotton or a financial instrument such as U.S. Treasury bills or Eurodollars at some future date.
Detailed explanation-2: -In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
Detailed explanation-3: -Products are made using commodities and are then put on the market and sold to consumers. Products, which are also referred to as consumer goods or final goods, are purchased for consumption by the average consumer.
Detailed explanation-4: -Commodity may be defined as a raw material or product that is traded, such as ores, grain, coffee etc. Commodity becomes Cargo when it enters the transportation realm. Cargo is what is transported.