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 ?
This means that tobacco smuggled into the country accounts for 76% of the total tax lost to the black market, while street sales make up 24%.
Tire application accounted for the major share of the overall carbon black market, followed by non-tire rubber application.
Key players in the global conductive carbon black market include Cabot Corporation, Birla Carbon, Orion Engineered Carbons SA, Imerys Graphite & Carbon Switzerland SA, AkzoNobel N.
Gasoline and tires were the next-most-likely black market purchases, due to scarcity and military need.
cyber black market is plagued by 'criminals' - people trying to swindle cyber-criminals
Ali Abdulla Thabit, a minibus driver, said: "the private gas stations assigned to provide diesel to bus drivers sell diesel on the black market while bus drivers wait in front of these stations in vain.
However, experts disagree on who will be the most affected by the growth of the black market, what products will be on the rise and which types of attacks will be more prevalent, Ablon said.
CAIRO - Egypt's central bank has taken extraordinary steps to prop up its currency and curb a black market in foreign exchange - but in back alleys and money changing shops around the country, illicit dealing continues to thrive.
He noted that some exchange companies, both licensed and unlicensed, would exchange the Central Bank's market intervention by selling currency purchased from the Bank at a higher price in the black market to make high profits, thereby hindering the government's efforts to stabilize exchange rates.
However, less than six hours later, the proprietor who goes by the name backopy, updated the post to say Black Market Reloaded would be re-enabled posting the new address to the site.
dollars provided by the central bank on the black market.
But that staunched the black market and was among several alarming signs pointing to continued socio-economic troubles for Egypt.