Markets and Stock Orders
Understand why the 20% threshold is the conventional definition.
5
Lessons in this module
Bull and bear markets
Understand why the 20% threshold is the conventional definition.
Market cycles
Understand why the four-phase cycle: (1) Expansion — GDP growing, employment rising, stocks climbing, (2) Peak — maximum output, stocks at highs, leading indicators turning, (3) Contraction — GDP falling, unemployment rising, stocks declining, (4) Trough — maximum decline, then recovery begins.
How NGX operates
Understand why price discovery through order matching: buyers compete to offer the highest bid; sellers compete to accept the lowest ask.
IPOs (initial public offerings)
Understand why iPO purposes: (1) capital raising — company gets fresh cash for growth, (2) liquidity for founders/early investors — they can sell shares, (3) public profile — listing increases brand visibility, (4) acquisition currency — listed shares can be used to buy other companies.
Market capitalisation
Understand why market cap = collective market valuation.
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