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 ?
00 to the dollar at the unofficial market amid widespread rumours that the central bank will resort to currency devaluation.
He said that there had been active speculation in the foreign exchange market, leading to the dollar's surge in the unofficial market.
Intertainment is also traded in Europe on the unofficial market of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".
This procedure, El-Zahhar added, will reduce the gap between the official and unofficial market.
There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the "Entry Standard" segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange.
While Blizzard Entertainment does not officially allow players to buy or sell assets, a thriving unofficial market for WoW assets exists.
The second reason, he said, is to reduce the actions made in the parallel, unofficial market, which involve setting higher prices as the demand for the dollar increases and the supply decreases in the official market.
He added that those solutions will not only increase investments but they will also aid in the rapid growth of the official market, rather than the parallel, unofficial market.
That's why unofficial markets are full of cracked games and programs.
The report unveiled that the unofficial markets managed to turn its KD 484,
Political and economic instability, unofficial markets, complexity of tax laws, internationalisation and digitalisation (e-trade) of exchanges and competition among states to attract investments were presented as factors which mostly favour fraud and reduce effects of repression of this kind of "tax crime.
The aim of this article is to explore the determinants of parallel or unofficial markets (UMs) for foreign exchange (forex) rates in Bangladesh using quarterly data from 1976Q2 to 1995Q2 and to compare the in-sample and out-of-sample (from 1995Q3 to 1999Q2) forecasting performances of the structural models with other time-series models.

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