The Abc's of Business
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In our eReader you can find the full English version of the book. Read The Abc's of Business Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Abc's of Business
What reading level is The Abc's of Business book?
To quickly assess the difficulty of the text, read a short excerpt:
He obtains credit from his banker, with which to buy wheat, and pays the banker after he has sold the flour. The miller simply wants to make flour for a reasonable but sure profit. He does not wish to speculate in wheat.
Moreover, if he did and his banker knew it, he would lose his credit. But a wholesale grocer gives him an order for flour, at an agreed price, foi: delivery several months later. Before the SPEOTJLATOES AND MARKETS 93 miller can name the price he must know in ad- vance what the... wheat is going to cost him when he comes to buy it several months later — say in December — or else take the risk of its going up in the meantime. To know this with certainty he must have a contract with someone to deliver him the wheat in December at an agreed price. So he tells a broker on the Produce Exchange to buy him wheat for December delivery. It is called buying futures. He seems to be speculating, but is doing exactly the opposite. He has thus elim- inated from his business all risks due to fluctua- tions in the wheat market.
What to read after The Abc's of Business?
You can find similar books in the "Read Also" column, or choose other free books by Mckee, Henry S to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
He obtains credit from his banker, with which to buy wheat, and pays the banker after he has sold the flour. The miller simply wants to make flour for a reasonable but sure profit. He does not wish to speculate in wheat.
Moreover, if he did and his banker knew it, he would lose his credit. But a wholesale grocer gives him an order for flour, at an agreed price, foi: delivery several months later. Before the SPEOTJLATOES AND MARKETS 93 miller can name the price he must know in ad- vance what the... wheat is going to cost him when he comes to buy it several months later — say in December — or else take the risk of its going up in the meantime. To know this with certainty he must have a contract with someone to deliver him the wheat in December at an agreed price. So he tells a broker on the Produce Exchange to buy him wheat for December delivery. It is called buying futures. He seems to be speculating, but is doing exactly the opposite. He has thus elim- inated from his business all risks due to fluctua- tions in the wheat market.
What to read after The Abc's of Business?
You can find similar books in the "Read Also" column, or choose other free books by Mckee, Henry S to read onlineMoreLess
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