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.
Using the black market rate for dollars, a professor’s salary here now tops out at about $8 a month, because of hyperinflation.
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.
An analysis done last year concluded that the state remains a top source for black market cannabis.
One US dollar today is worth 68,915 bolivares, according to the black market exchange rate the locals use.
This will almost certainly encourage black market activity.
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.
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.
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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