13. The SEC (Securities and Exchange Commission) is an independent agency of the United States federal government that was created to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. The SEC was created in 1934 in response to the stock market crash of 1929 and the Great Depression.
14. In reality all economies today are mixed economies, which combine elements of both capitalism and socialism.
15. Diversification is an important investment strategy that involves spreading out investments across different asset classes, sectors, and geographic regions. This helps to reduce risk by ensuring that a portfolio is not overly exposed to any one particular asset or sector. Diversification is important because it helps to reduce the overall risk of a portfolio while still allowing for potential returns.