Academics have argued that market efficiency can be defined using three differing strengths; weak form, semi$-$strong form, and strong form. Critically evaluate the three differing strengths of market efficiency ensuring the response is supported with relevant academic evidence.

In this section, students should demonstrate understanding, knowledge, and an ability to critically evaluate the differing theoretical viewpoints associated with differing structure of market efficiency. The response should attempt to incorporate a critical perspective through relevant academic referencing, rather than overly describing the differing models. Attempting to evaluate within a practical, real$-$life business context through investigation of academic empirical findings will assist in developing the response.