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 ?
70) By June 1947, the Bank of Japan estimated that black marketeers held 37 percent of all new yen, while farmers and fishers held an additional 29 percent.
In Tenderness, Haarmann is a successful black marketeer who uses his young victims to achieve both sexual satisfaction and economic gain.
Everyone, from children to black marketeers, stops to ask his advice or shake his hand or just say hello.
Spend time with ingenious black marketeers as they game the international system.
And yet: "There are also predatory scam artists and black marketeers who will fleece uninformed investors dazzled by the prospect of huge returns," he says.
Blaming hoarders for recent spurt in food prices, Finance Minister Arun Jaitley Friday said there was no need for panic as country has enough food stocks and promised stern action against black marketeers.
Retail Ireland chairman Frank Gleeson said: "2013 was another good year for the black marketeers.
The Rice Paper Diaries by Francesca Rhydderch ' One of the guards lets a shot out of a gun across the fence that they are watching night and day to stop Chinese black marketeers selling us fags and sugar.
However, with the London Police, volunteers and security forces drawn from the Royal Air Force, Navy and Army, black marketeers are nowhere to be seen.
It is because of the wrong policies of the UPA Government, that we are witnessing spiraling prices, and it could be said that the government did it intentionally to benefit black marketeers," claimed Baba Ramdev.
He criticised the chief minister for not taking action against black marketeers of mosquito repellents, saying that private hospitals and laboratories were still fleecing dengue patients.
But I found at least six black marketeers outside the stadium.