Without well-functioning secondary markets, governments and companies would be unable to raise financing because investors could not sell securities when necessary.

Name: Without well-functioning secondary markets, governments and companies would be unable to raise financing because investors could not sell securities when necessary.
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Question

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Secondary markets provide liquidity, allowing investors to buy and sell securities, which is crucial for the initial issuance of securities in primary markets.

Without Well-Functioning Secondary Markets, Governments and Companies Would Be Unable