Jason instructed his stockbroker to buy 100 shares of Utah Industries common stock if and when the price falls to $25 per share. Jason placed a(n):

Question

Quizplus · Accepted Answer

Jason placed a limit order, which is an order to buy or sell a security at a specified price or better. In this case, the specified price is $25 per share or lower. This is different from a market order, which would be an instruction to buy or sell a security at the prevailing market price.

Jason Instructed His Stockbroker to Buy 100 Shares of Utah