Provide a 4-5 sentence answer to the following questions. Please submit the citations/references as applicable, introduction and conclusion.

1. What is the essential purpose for financial markets?
2. Which is more important, the primary market for stocks or the secondary market? Why?
3. How does a Ponzi scheme work?
4. Discuss some of the forces that help make markets efficient?
5. What are institutional investors? Why are they needed in our economy?
6. What are some of the differences between a forward contract and a futures contract?