First Known Use of black-market
Definition of black market
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
The process is intended to ensure marijuana isn't diverted into the black market.
In 2011, Ramdev led a hunger strike of 65,000 to pressure the government into rooting out corruption and repatriating money earned on the black market.
The loot could’ve fetched as much as $2,250 on the black market, authorities say.
As the currency crashes on the flourishing black market, the monthly minimum wage is now worth the equivalent of just $3.
State wildlife officers say that with the fishing season closed, prices on the black market will skyrocket.
Police officers are probably still searching for Humphrey’s contact on the cellphone-charger black market.
The boat headed for Thailand which was accepting refugees, but pirates on shipping boats boarded the small craft and tried to wrest children away from their parents — perhaps, said Quynh Nguyen, to sell them on the black market.
The agency’s work might help other countries contemplating legalisation of black markets.
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
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
What made you want to look up black-market? Please tell us where you read or heard it (including the quote, if possible).