Examples of black market in a Sentence
The black market in prescription drugs is thriving.
They unloaded the stolen goods on the black market.
Recent Examples of black market from the Web
Already, the Iranian rial is trading on the black market at 66,000 to the dollar, despite the government-set rate being at 42,000 to $1.
The value of Iran’s currency has fallen by more than a third, forcing the regime to effectively curtail foreign travel and to put people in jail for buying dollars or euros on the black market.
Public and private health care providers also get targeted, partly because electronic health records can be sold for hundreds of dollars or more on the black market.
Verstraete and others then removed the prescription labels and re-sold them on the black market.
Poaching is rampant across the continent; rhino horn is worth more than its weight in gold and three each day get poached (though less valuable, ivory is still hot on the black market, and an elephant is captured and killed every 15 minutes).
The country’s currency, the rial, has lost a third of its value on the black market since September.
With only a black market, there would be none of the identification checks required of legal businesses to ensure all buyers are of legal age.
During the eight-month investigation, the FBI introduced an undercover agent posing as a black market arms dealer.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'black market.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of BLACK-MARKET
What It Is
A black market is the illegal purchase and sale of goods and services.
How It Works
Drug dealing is one of the most prominent black markets in the United States. In this black market, people buy and sell drugs knowing that such activity is usually illegal and that possessing the products themselves is usually illegal. Regardless, the demand for drugs is high enough to trump the law, though people usually attempt to conceal their participation.
Many black markets exist beyond drugs, however, and though the products or services may be legal, the manner in which they are bought and sold may be illegal. For example, it is legal to have a cleaning lady, but it is illegal to hire a cleaning lady who is not in the United States legally.
Because regulatory constraints may increase the price of some goods and services, in some cases regulation can actually prompt the development of black markets. This was particularly the case in the early 1900s, when the United States outlawed alcohol, which created a massive black market for the production, transportation and sale of liquor.
Why It Matters
The presence of black markets all over the world is evidence that the laws of supply and demand are virtually impossible to defy. When regulation or taxation becomes too high, when supply and demand are way out of balance, or when competition has been too restricted, people will always look for a way to get goods or services cheaper, faster or more easily.
BLACK-MARKET Defined for English Language Learners
Definition of black market for English Language Learners
: a system through which things are bought and sold illegally
Seen and Heard
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