Definition

1. Noun:

   • An illegal market in which goods or currencies are bought and sold in violation of rationing or controls: A system of trade that operates outside of official government regulations, often involving scarce, illegal, or price-controlled goods.
   • People who engage in illicit trade: A collective term for the individuals and networks involved in such illegal trading activities.

2. Verb:

   • To deal in illegally, such as arms or liquor: To buy or sell goods on the black market; to engage in illicit trade.

Usage Examples

• Noun:

  • During the war, a thriving black market for sugar and gasoline emerged.
  • The authorities cracked down on the black market selling counterfeit medicines.

• Verb:

  • Corrupt officials were found to black-market stolen antiquities.
  • It is a crime to black-market controlled pharmaceuticals.

Advanced Usage

• "to operate on the black market": To run a business that sells illegal or controlled goods.

  • The gang was known to operate on the black market.

• "black market goods": Items that are sold illegally.

  • The warehouse was full of black market goods.

• "black market rate": The exchange rate for a currency in illegal trading, often different from the official rate.

  • They exchanged dollars at the black market rate, which was much higher.

Variants and Related Words

• Black marketeer (n): A person who sells goods on the black market.

  • The black marketeer was arrested for smuggling.

• Black-marketeering (n): The activity of trading on the black market.

  • He was accused of black-marketeering.

Synonyms

• Illicit trade: Illegal commerce.
• Underground economy: Economic activity that is not reported to the government and not taxed.
• Gray market (Note: This often refers to the trade of legal goods through unauthorized channels, which is a related but distinct concept).

Related Phrases

• To buy/sell on the black market: The common collocation for engaging in this activity.

  • Many people were forced to buy food on the black market.

• Black market activity: A general term for actions related to the illegal market.

  • The report detailed the extent of black market activity in the region.

Noun

1. an illegal market in which goods or currencies are bought and sold in violation of rationing or controls
2. people who engage in illicit trade

Verb

1. deal in illegally, such as arms or liquor