A black market or underground economy is the market in which illegal goods are traded. Due to the nature of the goods traded, the market itself is forced to operate outside the formal economy, supported by the established state power. Typically the totality of such activity is referred to with the definite article as a complement to the official economies, by market for such goods and services, e.g. "the black market in bush meat".
The black market is distinct from the grey market, in which commodities are distributed through channels which, while legal, are unofficial, unauthorized, or unintended by the original manufacturer, and the white market, the legal market for goods and services.
Worldwide, the underground economy is estimated to have provided 1.8 billion jobs.
Read more about Black Market: Background, Pricing, Consumer Issues, Size of The Global Black Markets, Organized Crime, Appearance and Disappearance, See Also
Famous quotes containing the words black and/or market:
“When I from black and he from white cloud free,
And round the tent of Godlike lambs we joy,
I’ll shade him from the heat till he can bear
To lean in joy upon our father’s knee;
And then I’ll stand and stroke his silver hair,
And be like him, and he will then love me.”
—William Blake (1757–1827)
“To market ‘tis our destiny to go.”
—Robert Frost (1874–1963)