Which term refers to buying or selling a stock at a specific price?

The term that refers to buying or selling a stock at a specific price is known as a limit order. A limit order is an instruction to buy or sell a stock when it reaches a particular price, which allows the investor to have control over the price at which the transaction occurs. This type of order does not guarantee execution, as it will only be fulfilled if the market reaches the specified price.

In contrast, a market order is used to buy or sell a stock immediately at the current market price, which may not align with the investor's desired price. A margin account relates to borrowing money from a brokerage to purchase securities, which involves different risk factors and has no direct connection to the price at which a stock is bought or sold. Futures contracts are agreements to buy or sell an asset at a predetermined price at a future date, and while they involve price specifications, they are different from the direct trading of stocks in the context of limit or market orders.