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the right, but not obligation, to buy or sell a commodity or stock for a specified price with a specific time period is called a(n):______.

User Sanguine
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Final answer:

An option is the right, but not obligation, to buy or sell a commodity or stock for a specified price within a specific time period.

Step-by-step explanation:

The right, but not obligation, to buy or sell a commodity or stock for a specified price within a specific time period is called an option. Options are commonly used in financial markets as a way for investors to speculate on price movements or hedge against potential losses. For example, a call option gives the holder the right to buy a stock at a predetermined price, while a put option gives the holder the right to sell a stock at a predetermined price.

User Bachrc
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