BLACK-MARKET Meaning and
Definition
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The term "black market" refers to an underground or illegal economic system where goods, services, or commodities are bought, sold, or exchanged in violation of government regulations or without complying with legal procedures. It typically thrives outside the official channels of trade or commerce, avoiding taxes, restrictions, or licensing requirements. The black market is characterized by transactions conducted clandestinely, often involving deceit, secrecy, and anonymity.
This covert marketplace can include a wide range of activities such as smuggling, counterfeiting, piracy, illegal drug trade, human trafficking, arms trafficking, or selling stolen goods. Its existence is driven by various factors, including high taxation, government regulations, scarcity of goods, or restrictive policies that create artificial demand or supply gaps. Participants in this shadow economy often seek to benefit from inflated profits or evade the consequences of engaging in illegal activities.
Due to its illicit nature, the black market poses significant challenges to governments and society, including economic distortions, loss of tax revenue, and decreased consumer protection. Governments worldwide employ measures to combat this underground economy, such as enforcement efforts, penalties for participating in illegal trade, and regulations to address the underlying causes.
It is important to note that engaging in black market activities is not only illegal but also enables criminal networks, perpetuates corruption, and undermines legitimate businesses and economic growth.
Common Misspellings for BLACK-MARKET
- blackmarket
- blac market
- bleck market
- blackpmarket
- black0-market
- black-0market
- blackp-market
- black-pmarket
- black--market
- blackmmarket
- blackmarkets
- black-markets
- blakmarket
- blacmarket
- bleckmarket
Etymology of BLACK-MARKET
The word "black-market" originates from the combination of two distinct terms, "black" and "market".
The term "black" in this context refers to an illegal, clandestine, or unauthorized activity. It implies that such activities are conducted outside of the law, hidden from authorities or regulatory bodies.
The word "market" refers to the economic concept of a marketplace, where goods or services are exchanged between buyers and sellers. It represents the arena where economic transactions occur.
Therefore, the term "black-market" refers to an illegal or informal economy where goods or services are bought, sold, or traded outside of the legal channels, in secret or unauthorized settings.
Similar spelling words for BLACK-MARKET
- black mamba,
- Black Marketeer,
- blacksnake,
- Black Maria,
- blackmailer,
- Black Maire,
- black-and-blue,
- Black Margate,
- blackamoor,
- black marlin,
- black market,
- black sumac.
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