Elliot invests $$25,000$ by purchasing $1,000$ shares of an emerging markets mutual fund. This mutual fund invests in companies in Brazil, India, and China. He bought the mutual fund from the mutual fund company.

W$2$ Corp. needs capital to finance a new product line. It borrows money in the form of long$-$term bonds underwritten by an investment bank.

Based in Grass Valley, California, L & M Seeds Co$.$ is a small company that manufactures organic seeds. To raise capital, the company sells stocks directly to savers in Grass Valley without involving any bank or financial intermediary.