black market

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Black market

An illegal market.

Black Market

A market for products that are illegal, stolen, or otherwise need to be hidden from regulatory authorities. A black market encompasses the horrific (e.g. human trafficking) as well as the more mundane (e.g. participating in the market to evade taxes). Legal products on a black market are usually less expensive than on the regulated market because sellers do not pay taxes on their goods and services. That said, there is little or no recourse for the customer if and when a black market product fails. It is worth noting that black markets tend to be largest in jurisdictions where there are the most regulations and government monopolies. It is also known as an underground market.

black market

an unofficial or ‘under-the-counter’ MARKET trading in a product which the government has declared to be illegal (for example narcotic drugs), or on the sale of which the government has imposed controls thus limiting its availability.

black market

an ‘unofficial’ market that often arises when the government holds down the price of a product below its equilibrium rate and is then forced to operate a RATIONING system to allocate the available supply between buyers. Given that some buyers are prepared to pay a higher price, some dealers will be tempted to divert supplies away from the ‘official’ market by creating an under-the-counter secondary market. See BLACK ECONOMY.
References in periodicals archive ?
If it cannot, can the law and its enforcers push underground markets above ground or out of existence?
But even as the Nigerian exile and physician uncovers an underground market where immigrants purchase freedom with a pound of flesh, certain forces are drawing him in and threatening to destroy him and his friend Senay (Audrey Tautou).
All he wants is to make a fast buck on the lucrative underground market in puppies,kittens and a host of other animals.
Problematically, the narrator uses contemporary English expressions such as mind you, proliferating underground market interrogation (torture), opting instead for guerrilla tactics, I guess, income-tax credit, serial killers and arsonists, upped the ante, bookmakers, ride-by-shootings, and Pesky Peasants (the title of a section).
The underground market for VCRs and videotapes has been thriving for years and nearly every film at this year's Latin American Film Festival sold out.
Rather, they serve as GAAMA incentives to direct the order flow to controlled, offshore, balkanized, or underground market that is the low-cost point of sale.
Supporters of the proposal say the lack of organs has created an underground market where donors can earn thousands of dollars by giving up a kidney.
The theft is thought to be part of a spiralling number of by crimes by gangs who feed an underground market and specialise in stealing valuable animals to order.
And following its screening at America's Sundance Festival, there was a thriving underground market in bootleg videos of the film.
The old legal market gradually faded away, the victim of informal pressure and formal legal restrictions, and was slowly replaced by an underground market bearing most of the characteristic features of the contemporary illicit drug trade.
One gun a month would stop any gun runner who does get a national handgun card from flooding the underground market with guns.
Slim, Hank, and Jodie are outsiders in Harlem, small-town thugs from the South; they come north to join their former partner, Imabelle, and decide to set up an investment "racket" as a way of gaining a share in the informal underground market.

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