What is a black market
Hello,
I want to write in your own words about What is a black market (please give a real-world example). Under what circumstances do black markets arise?
An extremely good one-paragraph would be a minimum of eight full lines. Do not use any outside resources. I have uploaded the PowerPoint slides as resources for you to use.
Also, I want you to write a short response to two posts
First One
The black market is a platform that can be either physical or virtual where illegal goods and serves can be exchanged, these goods and services are usually controlled or scarced. An example of one would be the Silk Road which was a virtual black market that ran on the deep web, while it was not the first online black market it was one of the most sucessful black markets that had ever been online, you could purchase weapons, illegal substances, etc,
There are multiple factors that cause a black market to arise, it could be a person wanting to trade a controlled contraband, or wanting to avoid taxes and regulations, or people are trying to avoid a fixed price that a government sets.
Second One
Black market transactions either virtual or physical typically are motivated by the desire to avoid governmental rules and regulations, such as taxes, price controls, and laws regarding the sale of contraband. In a black market sometimes called the shadow economy either the products for sale or the transaction itself is illegal. Often, the products people buy and sell on the black market are illicit goods such as drugs and weapons, but that’s not always the case. It could also be that the product is perfectly legal, but the manner in which it’s being sold is illegal.
For example, this would be the case if someone repaired and sold used cars as an underground business. While black markets might provide consumers the opportunity to buy products that they can’t get elsewhere such as life-saving medicine these markets are dangerous because there are no consumer protections in place.
