can someone explain the 'black market'?

Question

this is for an extended essay that i'm doing on the black market

Answer 1

A black market is a market that is not subject to the laws of the land. Often times, people desire items that are not legal in their area and have to find it on the black market.

Dealing in the black market is risky - however sellers are motivated by greater profit. Buyers on the other hand derive a great amount of utility or happiness from the item in question and are ready to risk penalty and pay high prices for the good. Narcotics are a very good example of black market goods.

Answer 2

Black market is simply trading illegally. The obvious examples are tax avoidance by cash sales and trading in illegal or restricted articles (firearms, drugs etc). But also included in Black market activity which people often miss are other illegal activities such as selling over quota.

Then there is the 'grey market' which encompasses trade that strictly is legal. Tax and quota avoidance by registering companies, ships or vehicles overseas, trade dumping to exclude or damage competition are examples that come into this category.

Answer 3

Working "cash in hand", selling illegal drugs,prostitution,illegal trade in firearms all of these things are what goes on in the "black market" It is a sort of "underclass" way of living. When you see someone who is driving around in the latest range rover and they don't seem to have any form of employment/source of income then chances are they have either won the lotto or are part of the black market. It is almost like they are putting there fingers up at the system (metaphorically speaking) And good luck to them thats what I say.

Answer 4

Prison?

Answer 5

Brixton?

Answer 6

This is something that you sell that is illegal to buy.......

Answer 7

http://en.wikipedia.org/wiki/Black_market

This will tell you all you need to know.