black-market

verb
black-mar·​ket | \ ˈblak-ˈmär-kət How to pronounce black-market (audio) \
black-marketed; black-marketing; black-markets

Definition of black-market

 (Entry 1 of 2)

intransitive verb

: to buy or sell goods in the black market

transitive verb

: to sell in the black market

black market

noun

Definition of black market (Entry 2 of 2)

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

Keep scrolling for more

Other Words from black-market

Verb

black marketer or black marketeer \ ˈblak-​ˌmär-​kə-​ˈtir How to pronounce black marketeer (audio) \ noun
black marketeering \ ˈblak-​ˌmär-​kə-​ˈtir-​iŋ How to pronounce black marketeering (audio) \ noun

Examples of black-market in a Sentence

Noun

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

Recent Examples on the Web: Noun

Crooks want your Medicare number, too Once the beneficiary's information is compromised, it can be used in other unrelated fraud schemes, and resold on the black market multiple times. Susan Tompor, Detroit Free Press, "Door-to-door thieves are using DNA tests to scam you," 15 Aug. 2019 Apple now offers up to $1 million to security researchers who discover iOS vulnerabilities and report them, but these bugs are often way more valuable to sell on the black market. Tom Warren, The Verge, "Apple extends its bug bounty program to cover macOS with $1 million in rewards," 8 Aug. 2019 Regulators track each plant from seed to sale to prevent anything from ending up on the black market. Naomi Martin, BostonGlobe.com, "The essential guide to buying and consuming pot in Massachusetts," 6 Aug. 2019 Specifically, iPhone flaws that require no interaction on the behalf of users, like the ones the Google researchers discovered, would garner large sums if sold on the black market. Xavier Harding, Fortune, "Apple Has a Million Dollar Bug Problem—And It’s Only Paying Thousands to Squash Them," 31 July 2019 As the years passed, many of the rocks went missing or ended up on the black market. Dallas News, "How Ross Perot put up $5 million so U.S. agents could stage a sting to recover a stolen moon rock," 14 July 2019 Besides issuing cards, McCluskey said the kiosk staff educate customers about the benefits of marijuana products and offer an alternative to buying products on the black market. Julie Gallant, Ramona Sentinel, "Bar mural and cannabis kiosk get design reviews," 5 July 2019 As in South-East Asia, pirates in west Africa used to confine themselves to raiding oil-tankers, to sell their cargo on the black market. The Economist, "The Gulf of Guinea is now the world’s worst piracy hotspot," 29 June 2019 Another possible explanation is that the marijuana, edible treats and extracts sold legally in stores are more potent than what was commonly available on the black market. Gene Johnson, The Seattle Times, "Gee whiz: Testing of Tacoma sewage confirms rise in marijuana use," 24 June 2019

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.

See More

First Known Use of black-market

Verb

1727, in the meaning defined at intransitive sense

Noun

1931, in the meaning defined above

Keep scrolling for more

Learn More about black-market

Statistics for black-market

Look-up Popularity

Time Traveler for black-market

The first known use of black-market was in 1727

See more words from the same year

Keep scrolling for more

More Definitions for black-market

black market

noun

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.

Source: Investing Answers

black market

noun

English Language Learners Definition of black market

: a system through which things are bought and sold illegally

Comments on black-market

What made you want to look up black-market? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

a haphazard or makeshift solution

Get Word of the Day daily email!

Test Your Vocabulary

Summer 2019 Words of the Day Quiz

  • a-bowl-of-peach-sorbet-with-cut-peaches-next-to-it
  • Which is a synonym of desideratum?
True or False

Test your knowledge - and maybe learn something along the way.

TAKE THE QUIZ
SCRABBLE® Sprint

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!