black-market

verb black-mar·ket \ ˈblak-ˈmär-kət \

|Updated on: 9 Jun 2018

Examples: black-market in a Sentence

Definition of black-market

black-marketed; black-marketing; black-markets

intransitive verb

: to buy or sell goods in the black market

transitive verb

: to sell in the black market

—

black marketer

or black marketeer play \ˈblak-ˌmär-kə-ˈtir\ noun

—

black marketeering

play \ˈblak-ˌmär-kə-ˈtir-iŋ\ noun

First Known Use of black-market

1727

in the meaning defined at intransitive sense

See Words from the same year

NEW! Time Traveler

black market

noun

Definition of black market

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

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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

Using the black market rate for dollars, a professor's salary here now tops out at about $8 a month, because of hyperinflation.

— anthony faiola and rachelle krygier, chicagotribune.com, "A historic exodus is leaving Venezuela without teachers, doctors and electricians," 4 June 2018
Using the black market rate for dollars, a professor’s salary here now tops out at about $8 a month, because of hyperinflation.

— anthony faiola and rachelle krygier, Washington Post, "A historic exodus is leaving Venezuela without teachers, doctors and electricians," 3 June 2018
The government set an official price of 42,500 rials to the dollar, but the black market rate has risen to more than 64,000, according to Bonbast.com, which tracks the currency market.

— ramin mostaghim, latimes.com, "The return of U.S. sanctions is expected to sow misery in Iran. But for those with money, there's a haven: dollars," 29 May 2018
An analysis done last year concluded that the state remains a top source for black market cannabis.

— noelle crombie, OregonLive.com, "Black market, overproduction among U.S. Attorney's pot priorities," 18 May 2018
One US dollar today is worth 68,915 bolivares, according to the black market exchange rate the locals use.

— andrea diaz, CNN, "'World of Warcraft's' virtual gold is seven times more valuable than Venezuela's real money," 8 May 2018
This will almost certainly encourage black market activity.

— Philly.com, "Tennis match-fixing probe targets growing market for sports data," 30 Apr. 2018
Teachers in the public sector earn around four times the minimum wage of just over a dollar a month at the black market exchange rate.

— vivian sequera and francisco aguilar, The Christian Science Monitor, "As economic crisis worsens, schools empty in Venezuela," 25 Apr. 2018
Only following a Milwaukee Journal Sentinel investigation exposing how tourists who visited luxury resorts blacked out from drinking just a few drinks, Mexican authorities shut down a black market tequila distillery.

— USA TODAY, "'Weekend dad' Paul Ryan is out. How will this shake up the House?," 11 Apr. 2018

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.

First Known Use of black market

1931

in the meaning defined above

See Words from the same year

NEW! Time Traveler

Financial Definition of BLACK-MARKET

black market

noun

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