Black Market
Subject: Economics | Topics:

Black Market also known as illegal free market which flourishes in economies where consumer goods are scarce or are heavily taxed. It is the venue where highly controlled substances or products such as drugs and firearms are illegally traded. It can take a toll on an economy, since they are shadow markets where economic activity is not recorded and taxes are not paid. Black Market is also distinct from the grey market, in which commodities are distributed through channels which, while legal, are unofficial, unintended by the original manufacturer, and the white market.

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