What is meant by speculation? How can speculation take place in the spot, forward, futures, or options

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What is meant by speculation? How can speculation take place in the spot, forward, futures, or options markets? Why does speculation not usually take place in the spot market? What is stabilizing speculation? Destabilizing speculation?
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International Economics

ISBN: 978-1118955765

12th edition

Authors: Dominick Salvatore

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