WAEC Commerce 2009 Theory question 107

(a) Backwardation – the charge a bear pays to postpone delivery of shares he has sold to the next settlement period.
(b) Bear – a speculator who sells shares expecting prices to fall, hoping to buy them back cheaper.
(c) Jobber – a dealer on the stock exchange who buys and sells securities on his own account, dealing only with brokers.
(d) Jobber's turn – the jobber's profit: the difference between his buying and selling prices.
(e) Brokerage – the commission a stockbroker charges clients for buying or selling securities for them.

Define each term in a sentence.