[blank] is an exchange in which the buyer agrees to purchase something and the seller agrees to sell it for a specific price.

Question

Quizplus · Accepted Answer

A spot contract is an agreement in which the buyer and seller agree to exchange a commodity, currency, or asset at a specified price on a particular date. It is a transaction that takes place immediately, as opposed to a forward contract where the trade is settled at a later date.

[Blank] Is an Exchange in Which the Buyer Agrees to Purchase