Please provide some of the ways to use the Derivatives.

I really suck at Management. I was not supposed to study this major :( Please answer the above question.
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"Ways Derivatives are used - To hedge risks - To speculate (take a view on the future direction of the market) - To lock in an arbitrage profit - To change the nature of a liability - To change the nature of an investment without incurring the costs of selling one portfolio and buying another. Source:"
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The most frequent fundamental assets incorporate: merchandise, stocks, provides, rates and currencies.
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