A spot exchange involves a market where goods are bought and sold at a:
A) contracted market price.
B) prevailing market price.
C) predetermined market price.
D) post-determined market price.

Question

Quizplus · Accepted Answer

A spot exchange involves buying and selling goods at the prevailing market price, which is the current price at which the commodity is being traded in the market. The price is decided by the forces of supply and demand and may fluctuate frequently. Buyers and sellers agree to the prevailing market price for immediate delivery or settlement of the transaction without any prior contractual agreement.

A Spot Exchange Involves a Market Where Goods Are Bought