Explain primary versus secondary markets

The primary market is where securities for exchange are formulated and introduced to the public, whereas the secondary market (commonly known as the stock market) is where securities are listed after public subscriptions. Primary markets offer direct purchasing, in contrast to the indirect purchasing in secondary markets. Primary markets consider providing funds to enterprises for expansion and diversification purposes, but secondary markets don't offer to fund enterprises. Secondary markets are more advantageous in trading as securities and can be traded numerous times, unlike in primary markets where securities can only be sold once. Primary market prices are fixed, but fluctuation is experienced in secondary markets depending on demand for the securities.