Question
How do financial assets differ from real assets?
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Answer
Financial assets are claims; real assets are physical assets.
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Question
Why might a hybrid market structure exist instead of a purely order-driven one?
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Answer
It combines order matching with dealer liquidity support.
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Question
When are brokered markets especially useful?
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Answer
For large, unique, or hard-to-match transactions.
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Question
How does a quote-driven market differ from an order-driven market?
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Answer
Quote-driven uses dealer quotes; order-driven matches investor orders directly.
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