To raise funds for manufacturing expansion, a corporation would operate in which market?

A corporation seeking to raise funds for manufacturing expansion would operate in the capital market. The capital market is where companies can obtain long-term funding through the issuance of securities, such as stocks and bonds. This market is crucial for businesses aiming to finance large projects, such as expansion, because it provides access to necessary capital over an extended period.

Within the capital market, a corporation can issue new equity to raise funds, thereby allowing investors to buy shares in the company, or it can issue debt securities, such as bonds, which investors would purchase with the expectation of receiving interest payments along with the return of principal at maturity.

The other markets mentioned do not focus primarily on the long-term funding required for expansion. The funding market is not a standard term used in finance and doesn’t specifically apply to the mechanisms for raising capital. The secondary market pertains to the buying and selling of existing securities rather than the issuance of new funds. Lastly, the currency market deals with the exchange of different currencies and is unrelated to a corporation's efforts to raise capital for internal growth.