2. A client has a property that she thinks contains clay minerals of sufficient quality and quantity that it may be possible to mine the clays, process them, and sell them commercially. She requests that you visit the property, obtain samples, determine the type of clay or clays present, and estimate the approximate quantity of clay available. With what you know so far from the first four chapters of the class textbook, (1) outline the field and laboratory procedures that you would use to find the clay type, and (2) outline the procedures you would use to find the extent of the clay materials on the property.

Financial markets and channel to . they also channel money from individuals who want to for the future to those who need cash to spend today. a third function of financial markets is to allow individuals and businesses to adjust their risk. for example, , such as the vanguard index fund, and , such as spdr's or “spiders,” allow individuals to spread their risk across a large number of stocks. financial markets provide other mechanisms for sharing risks. for example, a wheat farmer and a baker may use the to reduce their exposure to wheat prices. financial markets and intermediaries allow investors to turn an investment into cash when needed. for example, the of public companies are because they are traded in huge volumes on the . are the main providers of payment services by offering checking accounts and electronic transfers. finally, financial markets provide information. for example, the of a company that is contemplating an issue of debt can look at the yields on existing to gauge how much interest the company will need to pay.