Define the Three Forms of Market Efficiency

question 2

Essay

Define the three forms of market efficiency.

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Definitions:

Implied Authority

Authority that is not explicitly defined but is assumed to be granted as part of an agent's role or duties.

Trading Partnership

A formal arrangement between two or more parties to manage, operate, and share the profits or losses of a business venture.

LLP Partners

Individuals who are members of a Limited Liability Partnership, bearing rights and responsibilities as defined in the LLP agreement.

Contractual Obligations

Responsibilities, duties, or promises that are legally binding, as outlined in a contract between parties.