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Financial markets ((Equity market (The main disadvantage is that an equity…

- - - - Selling of securities to initial buyers often takes place behind closed doors
    - - The New York and American stock exchanges
      - Foreign exchange markets, futures markets, and options markets
      - Functions:
        
        They determine the price of the security that the issuing firm sells in the primary market
        
        They make it easier to sell financial instruments to raise cash