(a) State four function of money
(bi) Explain how the following operators function on a stock exchange
- Bull
(bii) Explain how the following operators function on a stock exchange
- Jobber
(biii) Explain how the following operators function on a stock exchange
- Broker
(iv) Explain how the following operators function on a stock exchange
- Stag
(a) - As a medium of exchange
- As a store of value
- As a unit of account
- As a standard for deferred payment
(bi) Bull: A speculator who buys securities with the intention of reselling them at a high price. If the price falls, he loses and
has the option to carry forward the transaction to the next settlement by paying a charge termed "Contango".
(bii) Jobbers: Jobbers are professional speculators who perform important functions as member of the stock exchange.
Jobbers are independent dealer in securities and transact them in his own. They deal only with members of stock
exchanges like broker of other jobber and do not interact with a non-member.
(biii) Brokers are public agent who acts as an intermediary between the public and jobbers working at the stock exchange.
They link the jobbers and the public.
(iv) Stags: This is a speculator that applies for new stocks and shares in large quantity with the hope that the prices of
securities will rise before selling them.
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