black market

2 ENTRIES FOUND:

black market

noun

: a system through which things are bought and sold illegally

Full Definition of BLACK MARKET

:  illicit trade in goods or commodities in violation of official regulations; also :  a place where such trade is carried on

Examples of BLACK MARKET

  1. The black market in prescription drugs is thriving.
  2. They unloaded the stolen goods on the black market.

First Known Use of BLACK MARKET

1931

black market

noun    (Concise Encyclopedia)

Trading in violation of publicly imposed regulations such as rationing laws, laws against the sale of certain goods, and official rates of exchange among currencies. Black-market activity is common in wartime, when scarce goods and services are often strictly rationed (see rationing). Black-market foreign-exchange transactions flourish in countries where convertible foreign currency is scarce and foreign exchange is tightly controlled.

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