What does it mean when we say the Australian Securities Exchange (ASX) is an auction market?

a. (i) What does it mean when we say the Australian Securities Exchange (ASX) is an auction market? Explain your answer (30-40 words).
(ii.) Explain how auction markets differ from dealer markets? (30-40 words) (4 Marks)
b. Identify three (3) forms of business organisations and list a minimum of two (2) advantages and
disadvantages of each form of business.  (6 Marks)

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