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:
“We are all androgynous, not only because we are all born of a woman impregnated by the seed of a man but because each of us, helplessly and forever, contains the other—male in female, female in male, white in black and black in white. We are a part of each other. Many of my countrymen appear to find this fact exceedingly inconvenient and even unfair, and so, very often, do I. But none of us can do anything about it.”
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“The only reason to invest in the market is because you think you know something others don’t.”
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