black market

  

Definition

Illegal free market which flourishes in economies where consumer goods are scarce or are heavily taxed. In the first kind, black market prices are higher than the 'official' or controlled prices. In the second kind, prices are lower than the 'legitimate' or taxed prices, due to tax evasion. Black market and black money go hand in hand.

Use black market in a sentence

  • The smuggled weapons from Mexico were sold on the black market because there is no way they would be able to be sold on the open market.

    9 people found this helpful
  • From the 1920's to the 1930's the black market thrived and several bootleggers became infamous for their sale of alcohol during the Prohibition act.

    8 people found this helpful
  • The artifact was so rare and valuable that the buyers that were interested in it had to search the black market to find one for sale

    4 people found this helpful
Show more usage examples...

Related Videos




http://www.businessdictionary.com/definition/black-market.html

Have a question about black market? Ask for help in the
Community
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z