Definition, Meaning & Synonyms
black-market
noun
/ˈblak ˈmɑrkɪt/
Definition
An illegal trade or market where goods and services are bought and sold without government regulation or oversight.
Examples
- Many people turn to the black market for scarce items during a crisis.
- The black-market economy thrives when legitimate markets are restricted.
- He was arrested for selling stolen goods on the black market.
Meaning
The black market refers to economic activities that occur outside of the government’s control, often involving illegal goods or services.
Synonyms
- underground market
- shadow market
- illicit market
