The least efficient of all the different types of secondary markets is the:
A) auction market.
B) direct search market.
C) dealer market.
D) broker market.

Question

Quizplus · Accepted Answer

The least efficient secondary market is the direct search market, where buyers and sellers must search for each other without the assistance of an intermediary such as a broker or dealer. This method can be time-consuming and expensive, as parties must invest a lot of time and resources to find a counterparty willing to participate in a transaction. In contrast, auction, dealer, and broker markets all provide intermediaries that can facilitate transactions more efficiently.

The Least Efficient of All the Different Types of Secondary