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- What is a Black Market ?
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- A black market is a virtual or physical platform where people exchange goods and/or services that are illegal or are sold in an illegal manner. They typically skew economic data in order to keep their transactions undetected. Black markets exist either because of a demand for these illegal goods/services or for tax evasion. Some secondary markets can be considered as black markets.
- Typical things that you might find on a black market are: illegal drugs, prostitution, knock off designer brands, ticket scalping services, human organs, endangered species, human trafficking, and smaller things.
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- Black markets really began during WWII as a way to get around the rationing standards that were put on the citizens for the sake of the war. The term black market first appeared in the 1930's.
- Producers, suppliers, and consumers of all economic/social statuses took part. Black market trade included steel, tires, coffee, sugar, gas, butter, processed foods, meats, and ration coupons (both real counterfeit).
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