black market

/'blæk,m:kit/

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Word: Black Market

Part of Speech: Noun (also can be used as a verb: "to black market")

Definition: A "black market" is a place where people buy and sell things illegally. This can happen when there are rules or laws that make it against the law to sell or buy certain goods or services. For example, if a country has limits on how much food someone can buy, selling extra food privately would happen in the black market.

Usage Instructions:

• As a Noun: You can use "black market" to talk about the illegal trade itself.

  • Example: "During the war, many people turned to the black market to find food."

• As a Verb: You can say someone "black markets" an item to describe the action of selling it illegally.

  • Example: "He was caught trying to black market cigarettes."

Example Sentences:

1. "The black market for rare animals is a serious problem for conservation efforts."
2. "Some people believe that black marketing can sometimes help those in need when legal options are limited."

Advanced Usage:

In economic discussions, "black market" may be analyzed in terms of its impact on a country's economy or its relationship to government regulations.

Word Variants:

• Black Marketeer (noun): A person who participates in the black market.

  • Example: "The black marketeer sold stolen electronics."

• Black Market Activity (noun): Actions or transactions that occur in the black market.

  • Example: "Authorities are cracking down on black market activity in the city."

Different Meanings:

While "black market" primarily refers to illegal trade, the term can also imply a shadow economy, where transactions occur outside of government regulation.

Synonyms:

• Underground market
• Illicit market
• Gray market (though this can refer to legal goods sold outside of authorized channels)

Idioms and Phrasal Verbs:

• "Under the table": This idiom means to do something secretly or illegally, often referring to payments or transactions.

  • Example: "He was paid under the table to avoid taxes."

• "On the black market": This phrase is used to indicate that something is being sold illegally.

  • Example: "Many medicines are being sold on the black market."

Summary:

A "black market" refers to illegal buying and selling of goods or services.

Academic

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

Synonyms

• run