28. Which of the following is not correct about Financial Market? a. Financial markets help in creating more efficient allocation of capital which results in higher production and efficient that...

a. Financial markets help in creating more efficient allocation of capital which results in higher production and efficient that ultimately leads to economic growth.

b. Financial market refers precisely to the physical venue where funds and financial instruments such as stocks, bonds and other securities are exchanged between willing individuals and/or entities e.g. Philippine Stocks Exchange and Philippine Dealings and Exchange.

c. Participants in the financial markets include ultimate lenders and borrowers such as household, government and businesses, financial intermediaries, broker and dealers, regulators, fund managers and financial exchanges.

d. The main economic function of the financial markets is to serve as a channel to transfer excess funds from fund providers to fund demanders