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.
Partly shot in Dubai, it will take in cybercriminals in India, black marketeers in Zagreb, druglords in Colombia and Bedouin smugglers in the Negev desert.
I believe with the rationing during the war it was a more fair society, although there was the black marketeers.
Between them they tell the story of black marketeers during war time and post war rationing and Cold War Soviet intrigue.
The parliamentary secretary said the scheme was different from the previous ones, as smugglers and black marketeers could not benefit from this scheme.
the organization is selling to middlemen or black marketeers, who are then in turn providing it to others.
After the brutal raid on the lab, computer scientist Jana is desperate to get away and finally agrees with Sam the cleaner to attempt to escape via the route being controlled by the black marketeers.
The shocking discovery comes as overseas black marketeers flood the UK with counterfeit characters from the movie.
The chief minister's off-the-cuff remarks have come at the time when the Centre has asked the state governments to crack down on hoarders and black marketeers to rein in price rise and inflation in the country.
Congress always tried to reduce inflation but because of hoarders and black marketeers there is artificial inflation.
That is not, however, a large increase over the 46 black marketeers he said had been arrested as of the first week of October.