Financial markets bring together the buyers and sellers of financial securities, but are financial markets a necessary part of an economy?

Please answer the following question:

Financial markets bring together the buyers and sellers of financial securities, but are financial markets a necessary part of an economy? If we have labor markets and factor markets, can an economy be successful without financial markets? Be sure to consider (and give an example) of how the economy would operate without financial markets and why society created them.

Financial markets bring together the buyers and sellers of financial securities, but are financial markets a necessary part of an economy?

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