BLACK MARKET

First of all i don't know anything about this black market. Zip Zero Zilch!

But i'll try to write something.

The black market is actually not a physical place, but it is rather an economic activity where people buy or sell things illegally. These things range from selling a ticket to a musical show to selling weapons locally or internationally. Black market is also called as “underground market”.

The name “black market” is a very strange name. Black market got this name due to the fact that these illegal activities are conducted in the dark and out of the sight of law enforcements.

When considering the pricing in black market two methods of pricing can be seen there.

1. Firstly these goods can be cheaper in price unlike in the places where these items are sold legally. The supplier doesn’t have to pay for taxes and thus the items are cheaper. (But most of the time black market goods are pretty expensive)
2. Also these items can cost more than the amount they cost in legal markets. Most of the times these kinds of goods are prohibited in legal markets or unable to buy easily and dangerous. (like prohibited drugs and banned weapons)

Many factors can make these transactions in black market illegal. They are:-

• The good sold or the service provided can be illegal.

Ex: - selling prohibited drugs and prostitution.

• The good must have been stolen. And the buyer will be in trouble after buying it.
• This also can be a legal good which is sold in this way to avoid taxes.

Ex: - cigarettes that are smuggled in to countries

Due to government’s faults these markets can exist in anywhere anytime. But most of the times they tend to develop in states in countries which have strict regulations.

I think that politicians also play a major role in black market. But there are some people who prefer legal goods because of the risk they have to under go when dealing with black market stuff. Also legal goods are easier to contact.

Some of the underground economic activities in developed countries are,

1. Providing illegal transportations such as illegal taxis.
2. Buying and selling illicit drugs.
3. Prostitution. (of women and children mostly)
4. Selling weapons and other military stuff.
5. Alcohol and tobacco.
6. Selling copyrighted media. (In Asian countries mostly) etc.
7. Money itself is traded in black market.
8. Fuel. (i was stunned to see that fuel includes in black market. but it seems so. I'll add an article where i found about this.)

"Between the Republic of Ireland and Northern Ireland there has often been a black market in petrol and diesel. The direction of smuggling can change depending on the variation of the taxes and the exchange rate between the Euro and Pound Sterling; indeed sometimes diesel will be being smuggled in one direction and petrol the other."

So like I told earlier black market can be seen everywhere. It’s somewhat unstoppable. No matter how hard the government tries to stop it, the black market will always exist. So that includes my article. Hope I had written enough. :D