BLACK MARKET Meaning and
Definition
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Black market refers to a clandestine or illegal network where goods, services, or commodities are traded, bought, or sold without adherence to government regulations, taxation, or oversight. Operating outside the official channels of the economy, the black market involves transactions that are usually hidden or conducted covertly due to their illicit nature. In this underground economy, parties engage in exchanges that are usually prohibited or strictly regulated by the law.
Participants in the black market engage in activities such as smuggling, counterfeiting, piracy, illegal drug trade, human trafficking, and selling stolen goods. The motivation behind the black market varies, often driven by socioeconomic factors such as scarcity, high prices, oppression, or a desire to bypass legal restrictions.
Black markets can emerge in various sectors, including but not limited to drugs, weapons, counterfeit merchandise, organs, art, and currencies. These markets are characterized by anonymity, lack of documentation, and absence of formal legal protection. They develop their own systems of supply and demand, often influenced by scarcity, and enable participants to access goods or services that may be otherwise unattainable or too expensive in legal and regulated markets.
While black markets are associated with illegal activities, they can sometimes arise as a result of governance failures, corruption, or excessive taxation. The impact of black markets on the overall economy can be detrimental, leading to lost tax revenue for governments, undermining legal businesses, and sometimes fueling violence or organized crime.
Top Common Misspellings for BLACK MARKET *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for BLACK MARKET
- vlack market
- nlack market
- hlack market
- glack market
- bkack market
- bpack market
- boack market
- blzck market
- blsck market
- blwck market
- blqck market
- blaxk market
- blavk market
- blafk market
- bladk market
- blacj market
- blacm market
- blacl market
- blaco market
Etymology of BLACK MARKET
The term "black market" is derived from the combination of the word "black" with "market". Here is its etymology:
1. Black: The use of "black" in this context can be traced back to the Middle English period (around the 12th century) when "black" was associated with something hidden, secret, or unauthorized. It was commonly used to refer to something that was outside the bounds of the law or socially accepted norms.
2. Market: The word "market" originated from the Latin word "mercatus", meaning "trading" or "buying/selling". It became a common term in English during the late Old English period and has since been used to represent any form of commercial activity or exchange.
Idioms with the word BLACK MARKET
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the black market
The idiom "the black market" refers to the illegal buying, selling, or trading of goods, services, or currency, typically in violation of government regulations or laws. It often involves underground or illicit activities where transactions take place outside the official economy and without proper regulations or taxes.
Similar spelling words for BLACK MARKET
- black sumac,
- Black Mallee,
- black mulberry,
- black-market production,
- blacksnake,
- black-market,
- black marlin,
- black magic,
- black mangrove,
- black morel,
- more black-market,
- black humor,
- black and tan,
- black knot,
- Black Muslim,
- Black Medick,
- blackmailer,
- black mustard,
- black man,
- market bleach,
- black music,
- black moss,
- black gum,
- blackamoor,
- Black Margate,
- banned/black-market goods,
- Black Marketeer,
- most black-market,
- Black Maire,
- Black Maria,
- black mamba.
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