Describe the difference between 'market orders', 'limit orders', and 'stop orders' and when each is used.

• A. Market orders specify a price and may not fill.
• B. Limit orders execute immediately at the current best price.
• C. Market orders execute immediately at the best available price; limit orders specify a price and may not fill; stop orders trigger a market order when price reaches a specified level.
• D. Stop orders guarantee a fill at the stop price.

Answer: (C)