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 ?
According to the approximate calculations the number of the youth working in the hidden market decreased from 35 thousand to 14.
Business Buyer Advocates introduce buyers to companies quietly for sale by-owner on the hidden market, and they also provide street-smart guidance to buyers who want to purchase a business listed for sale by business brokers.
A hitherto hidden market for video games lies in the worldwide installed base of over 50 million Set-Top Boxes and 70 million hand-held consoles including mobile phones.
KnowledgeX reveals intelligence that helps companies stay apprised of the competition, improve the quality of business decisions and discover hidden market opportunities.
reaches as many segments of the market as possible, including the more obscure or hidden markets.
There are many hidden markets we believe will take off.
While many struggling writers barely earn a living wage, Bob Bly's Guide To Freelance Writing Success is packed with tips, tricks, and techniques for tapping hidden markets, earning money form the "quiet" magazine market, writing a "bullet proof" book proposal, 22 rules for successful self-promotion, managing one's time with consummate efficiency, insider secrets to put the Internet to good use, and much more.
The rule is aimed at preventing so-called hidden markets, where Nasdaq dealers can trade stocks at prices more favorable than the publicly available quotes.