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Edward Jones, Charles Schwab, and Merrill Lynch are some of the largest in the United States. Which industry do these companies primarily belong to?

A. Brokerage firms
B. Banking institutions
C. Savings and loans
D. μtual funds

1 Answer

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Final answer:

Edward Jones, Charles Schwab, and Merrill Lynch are considered brokerage firms within the financial market industry. Lehman Brothers' bankruptcy in 2008 marked the start of a major economic crisis. Banks, savings and loans, and credit unions are related financial institutions that receive deposits and extend loans. Option A.

Step-by-step explanation:

Edward Jones, Charles Schwab, and Merrill Lynch primarily belong to the brokerage firms industry. These companies operate in the financial market, facilitating the buying and selling of financial securities such as stocks and bonds for both individual and institutional clients. In 2008, Lehman Brothers, an investment banking firm, declared bankruptcy, which was a major event in the financial industry signaling the beginning of a significant economic crisis.

Understanding the different types of financial institutions, including banks, savings and loans, and credit unions, is essential when discussing the financial sector. These institutions are closely related as they all receive deposits and make loans, but they operate slightly differently and are part of the broader financial market. Option A.

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