Question

6. Price of a commodity means
(A) the amount of money given by a buyer to a seller
(B) the amount of money buyer is getting
(C) profit earned by the seller
(D) cost of the commodity

Answer 1

Answer:

Price of a commodity means

(A) the amount of money given by a buyer to a seller

(B) the amount of money buyer is getting

(C) profit earned by the seller

(D) cost of the commodity

Explanation:

c is the correct answer

Answer 2

The market price of a commodity that is quoted in the news is often the market futures price for that respective commodity. The futures price is different than the spot price or cash price, which is the actual price of the commodity that one would pay for it today.