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 ?
Apart from the black marketeers, everyone had nothing: poor, middle class, upper class.
Eduardo Filippo's comic drama about black marketeers in World War II Naples; runs through Oct.
Webb is properly sinister as the doctors and black marketeers who keep holding out false hope, and a naughty joy as the various one-nighters who eagerly hop in and out of Anna's hotel bed.
IAEA officials told a technical meeting Iran had indicated to international black marketeers Tehran would purchase tens of thousands of magnets for sophisticated P-2 centrifuges that can enrich uranium to bomb-grade levels.
And if black marketeers had wanted to print tickets for any other Champions League game, all they had to do was change the name of the team.
Beyond the recent arrests of 75 dissidents sentenced to as many as 28 years in jail and the executions of three hijackers who tried to commandeer a passenger ferry to Florida, the government also has cracked down on black marketeers and conducted raids allegedly in search of drugs.
Along the way, the three men encounter ineffectual authorities, black marketeers, romantic brigands, bandits, hordes of war orphans and a few dedicated caretakers.
The author tells us it is simply a matter of supply and demand, with nuclear black marketeers actively establishing connections between likely end-users and would-be sellers.
Fortunately, Soler had anticipated trouble and had made arrangements for black marketeers to smuggle out the footage he already had.
While bemoaning their lack of power to catch the really big fish, especially zaibatsu firms, many police made their living by extorting "exemptions" from black marketeers in return for looking the other way.
Yet it must be one of the few places where, as a tourist, you feel safe on the streets and even the black marketeers who sidle up to you trying to flog you cigars in the centre of Havana are unthreatening.
They are not drawn to the cinemas, vaudeville theaters, night cafes, and the Sportpalast any more, unlike the feasting black marketeers, burned-out proletarians, and female street-workers who came in from the cold because they were competitors on the labor and love market; instead, today they have an academic degree, an odd job in a trendy bar, and write novels, presumably on the triumphs and failings in the metropolis.