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 a type of order to purchase or sell a security at a specified price or better. This allows investors to have more control over the prices at which their trades are executed, ensuring that they do not purchase above a certain price or sell below a certain price.

In the context of investing, this is particularly useful when market prices can fluctuate significantly. By using a limit order, an investor can avoid executing a trade that might occur at a less favorable price, which could happen with a market order, where the execution is done at the best available current price without any price limit.

The other terms mentioned serve different purposes in trading. A market order is executed immediately at the current market price, a margin account allows investors to borrow funds to purchase more securities than they could with just their available cash, and futures contracts involve agreements to buy or sell an asset at a predetermined future date and price, rather than executing a trade at a specific price immediately.