Black market
volume
British pronunciation/blˈak mˈɑːkɪt/
American pronunciation/blˈæk mˈɑːɹkɪt/

Definition & Meaning of "black market"

Black market
01

the illegal purchase and selling of goods in high price, ofen in an unreasonable price

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The government ’s strict import regulations led to the rise of a black market for electronics, where consumers were willing to pay double the retail price for the latest gadgets.
In countries facing severe shortages, the black market flourished, with people selling essential goods like food and fuel at outrageous prices.
Authorities are cracking down on the black market for stolen art, which has seen a surge in activity as collectors seek rare pieces without the proper documentation.
to black market
01

deal in illegally, such as arms or liquor

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