The Primary Market is where new securities, such as stocks and bonds, are created and sold for the first time. Companies and governments issue these securities to raise capital for various purposes, like funding projects or expanding operations. Investors buy these securities directly from the issuer, often through an initial public offering (IPO) for stocks. In the primary market, the price of the securities is typically set by the issuer and underwriters, who help determine the value based on market conditions. Once the securities are sold, they can be traded in the Secondary Market, where existing securities are bought and sold among investors.