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1) What is a derivatives contract? Explain using your own language( do not copy and paste and if you do so you will not get any credit) what is a option, a future and a warrant?2)What are the advantages and disadvantages of early and late markdown policies. Name a minimum of three each (advantage & disadvantage) and provide an explanation. 3)Should a retailer’s right to security take precedence over an employee’s and a customer’s right to privacy when the retailer sets up an electronic monitoring system in its stores to curb losses from theft?

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