The most active secondary market is the market where the prices of stocks are established. The two leading stock markets are the New York Stock Exchange, which is a __A___, and the NASDAQ, which is a __B___market.

Stock market transactions include: (1) outstanding shares are traded in the __C___market, (2) additional shares sold by companies in the ___D___ market, and (3) initial public offerings made by privately held firms in the __E___ market.

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