Explain how the dealer market works. Be sure to mention market makers, bid and ask prices, the

Question:

Explain how the market works. Be sure to mention market makers, bid and ask prices, the Nasdaq market, and the OTC market. What role does the market play in initial public offerings (IPOs) and secondary distributions?
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...