noun a system in which goods or services are bought and sold illegally, usually to avoid government regulations or taxes
In the digital age, black markets can also refer to online platforms where illegal goods or services are bought and sold using cryptocurrencies.
Black market activities can involve the sale of illegal goods such as drugs, weapons, or counterfeit products.
There are black markets for prescription drugs and other medical supplies, posing risks to public health and safety.
The black market refers to illegal or underground economic activity where goods or services are traded outside of the formal market, often to avoid regulations or taxes.
Black markets can exist across borders, leading to issues of smuggling and illicit trade.
In the context of a writer, the term 'black market' may be used when discussing illegal activities or underground economies in their work of fiction or non-fiction.
Psychologists may use the term 'black market' when discussing the psychological impact of participating in illegal activities or when exploring the motivations behind black market transactions.
Lawyers may encounter the term 'black market' when dealing with cases involving illegal trade or when advising clients on the legal implications of engaging in black market activities.
Economists may study the effects of black markets on the overall economy, including the impact on prices, competition, and government regulation.
Law enforcement officers may investigate and prosecute individuals involved in black market activities, such as the sale of illegal drugs or counterfeit goods.
Government officials may work to combat black market activities through legislation, enforcement efforts, and international cooperation.
Journalists may report on black market activities, including the trends, impacts, and law enforcement efforts to combat illegal trade.
Business owners may be affected by black market competition, counterfeit goods, or supply chain disruptions caused by illegal trade.
Accountants may encounter the term 'black market' when auditing financial records that may involve unreported income or illegal transactions.
Social workers may work with individuals who are involved in black market activities and may address the social and economic factors that contribute to participation in illegal trade.