Faith placed an order to sell 7,500 shares of stock she currently owned.As soon as the order reached the trading floor,the shares were immediately sold.Which type of order did Faith place?

Question

Quizplus · Accepted Answer

Faith placed a market order, which means she instructed her broker to sell the shares at the current market price immediately. This is the fastest way to sell shares, but it also means that the price could potentially be lower than if she had used a limit order.

Faith Placed an Order to Sell 7,500 Shares of Stock