Economics (Speculation)
1.The prompt is as stated:
Speculation is often considered to be morally dubious. But, can speculation actually be useful to the market process? This video shows that speculation can actually smooth prices over time and increase welfare.
Speculators take resources from where they have low value and move them through time to where they have high value. We also take a look at speculation in the futures market for instance, can orange juice future prices help predict Florida weather? Lets find out:
I will attach the video you have to use, this video ONLY for citation: https://mru.org/courses/principles-economics-microeconomics/speculation-oil-futures-market
Discuss the video and answers the question(prompt) and make sure its 3 paragraphs
2. Reply back to what 2 people have said about the video, I will attach their responses, they will be labeled as response 1 and response 2. The responses don’t have to be long, just thoughtful and responsive to what the person stated.
