- What are the three primary ways in which capital is transferred between savers and borrowers? Describe each one.

- What are the two leading stock markets? Describe the two basic types of stock markets.

- If Apple computer decided to issue additional common stock and Varga purchased 100 shares of this stock from make Smyth Barry, the underwriter, would this transaction be a primary or a secondary market transaction? Would it make a difference if Varga purchased previously outstanding Apple stock in the dealer market? Explain.

- What is an initial public offering (IPO)?

- What does it mean for a market to be efficient? Explain why some stock pricesmay be more efficient than others.