What is a black market?

A black market is an economic activity that takes place outside government-sanctioned channels. Illegal market transactions usually occur “under the table” to let participants avoid government price controls or taxes.

What is a black market example?

A black market can be a physical market where two individuals meet to exchange illegal goods, for example, a drug transaction on a street corner. A black market can also exist online, such as on the dark web, where individuals communicate to exchange goods and payments are made in digital currencies. What Is an Example of a Black Market?

What constitutes a black-market trade?

If the rule defines the set of goods and services whose production and distribution is prohibited or restricted by law, non-compliance with the rule constitutes a black-market trade since the transaction itself is illegal.