Concept:Speculation is the act of buying a commodity in the hope of profiting from expected price changes.
Explanation:When buyers anticipate fluctuations in commodity prices, they purchase goods early.
Their aim is to sell later at a higher price if the expected price increase occurs.
If prices fall, they may face losses.
This behaviour is called speculation because it is based on prediction rather than actual need.
Options like arbitrage, contango, and hedging refer to other market strategies, not simply buying on expected price variation.
Answer:A. speculation