black market
The 'black market' refers to illegal trading activities that circumvent regulations and often involve prohibited goods or services.
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Definition
B2Economics
(general)An illegal market where goods or services are exchanged without government approval or oversight.
Example
- The black market for counterfeit goods has grown significantly in recent years.
C1Law
(technical)A system of illegal trade that violates laws, regulations, or international agreements.
Example
- Law enforcement agencies are cracking down on the black market for endangered animal products.
Similar
Terms that have similar or relatively close meanings to "black market":
dark marketgrey marketblack moneyflea marketcurb marketmeat market