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Black Market |
Also found in: Dictionary/thesaurus, Encyclopedia, Hutchinson | 0.09 sec. |
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Black Market A type of economic activity that takes place outside of government-sanctioned channels. Black-market transactions typically occur as a way for participants to avoid government price controls or taxes, conducting transactions 'under the table'. The black market is also the means by which illegal substances or products - such as illicit drugs, firearms or stolen goods - are bought and sold. Notes: While the black market is commonly associated with criminal activities involving drugs or weapons, it also has a financial component: black currency-exchange markets almost always appear when government controls on exchange rates prevent the use of natural exchange rates in the global marketplace. Black market An illegal market. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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