The Role of Financial Markets in a Private-Property, Free-Market Economy
The basic issue we addressed in chapters 5 and 6 was how much of A a person is willing to give up now for one more unit of B now. However, many goods provide services over a period of time. Thus, we must also ask what quantity of A a person would give up now for one more unit of A to be received later. In general, the more we eat today, the less we will have to eat tomorrow.
KeywordsFinancial Market Live Tree Future Market Future Price Future Contract
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