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Black Market
(redirected from black economy)

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia 0.01 sec.
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.


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Those involved in this black economy may be selling fake DVDs or CDs to your children today, but tomorrow it could be drugs "They will stop at nothing to make a profit.
Sending in the Revenue to grab a few extra euro from small businesses will lead to bankruptcies and a return to the black economy.
Strange it's illegal to employ illegal immigrants, but black economy employers don't even get a wrist slap let alone loss of one year's tax relief, which is the correct reprisal and, I believe, the method used by the New Zealand Government.
 
 
 
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