What is Black Market?
Category: Marketing
1Definition
An illegal marketplace where goods or services are traded outside government-sanctioned channels.
2Context
Emerges when legal markets are restricted. Includes everything from counterfeit goods to human trafficking.
3Example
During Prohibition, the black market for alcohol made gangsters like Al Capone wealthy.
⚠Common Trap
Black markets aren't just for drugs—they include currency exchange in countries with exchange controls and resold concert tickets.
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