Black Market

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:

    The lore of our fathers is a fabric of sentences.... It is a pale gray lore, black with fact and white with convention. But I have found no substantial reasons for concluding that there are any quite black threads in it, or any white ones.
    Willard Van Orman Quine (b. 1908)

    the old palaces, the wallets of the tourists,
    the Common Market or the smart caf├ęs,
    the boulevards in the graceful evening,
    the cliff-hangers, the scientists,
    and the little shops raising their prices
    mean nothing to me.
    Anne Sexton (1928–1974)