4. What, exactly, is a "black market"? Please discuss an example of a black market that...

4. What, exactly, is a "black market"? Please discuss an example of a black market that is new and original.

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Black Market :- Black Market is a platform, where goods and service are exchanged illegally, which may be physically or virtually. This is an economic activity which takes place outside the governments channel to avoid proce control or taxes by government. Here goods such as stolen from dock, drugs which are illegal to use in many countries are exchanged with out any proof or proper bill.

Current example of black market :- One current example of black market is Alchohol. In this covid-19 pandemic there were huge amount of sellers of alchohol in the black market as all the alchohol shops were closed due to lockdown and the people were restricted to go out of their home. In that situation, alchohol were sold in the black market at very high prices. The first few days after the lockdown was announced the price of alchohol was double of its market price, but still people craved for it and bought alchohol at double price from the black market. This is one of the recent and original example of black market which occured.

Rahul Sunny answered 1 year ago

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