When a buyer or seller of an agricultural commodity takes action to protect against a future change in the value of the commodity, then the buyer or seller is

b. Hedging

Explanation:

Hedging is a method of reducing the risk of expected losses in future by using derivative instruments to invest in an opposing strategy to the one you currently have. That way, if losses occur on the one side of the strategy, the other side would still bring you profits.

Granted, this will reduce your profits due to the extra investment but the rationale behind it is to either get some profit or no profit at all. '

A buyer or seller of an agricultural commodity can engage in a forward contract that guarantees that the other party buys the commodity in question for a particular price on a particular date. That way they would not have to worry about a price change.

answer; ///i believe the correct answer is (c) laissez-faire;