_________ is not a characteristic of speculation.Select one:a.Hedgingb.Risk Takingc.Profit Motived.Profit Motive

To answer the question, we need to identify which option is not a characteristic of speculation.

The options given are: a. Hedging b. Risk Taking c. Profit Motive d. Profit Motive

We can see that option d is a duplicate of option c, so we can eliminate it.

Now, let's analyze the remaining options:

a. Hedging: Hedging is a strategy used to reduce or offset the risk of price fluctuations in an investment. It is commonly associated with speculation, as it involves taking positions in the market to protect against potential losses. Therefore, hedging can be considered a characteristic of speculation.

b. Risk Taking: Speculation inherently involves taking risks. Traders and investors who engage in speculation are willing to take on higher levels of risk in the hopes of achieving higher returns. Therefore, risk taking is a characteristic of speculation.

c. Profit Motive: Speculation is driven by the desire to make a profit. Traders and investors engage in speculative activities with the intention of capitalizing on price movements and generating financial gains. Therefore, profit motive is also a characteristic of speculation.

Based on the analysis, we can conclude that the correct answer is option d. Profit Motive.