Black market

Rare card · No. 41669

A black market is a clandestine market or series of transactions that has some aspect of illegality within a legal jurisdiction; it may also not be compliant with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution are prohibited or restricted by law, non-compliance with the rule constitutes a black-market trade since the transaction itself is illegal. Such transactions include the illegal drug trade, prostitution (where prohibited), illegal currency transactions, and human trafficking. Participants often conceal illegal behavior from government authorities or regulators. Cash remains the preferred medium of exchange for illegal transactions, as it is more difficult to trace. Common reasons for engaging in black market activity include trading contraband, avoiding taxes or regulations, or evading price controls and rationing. Such activities are generally referred to using the definite article, e.g., "the black market in bush...

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