WHAT IS A BLACK MARKET?
A black market is an economic activity that takes place outside government-sanctioned channels. Illegal market transactions usually occur “under the table” to let participants avoid government price controls or taxes. The goods and services offered in a black market can be illegal, meaning their purchase and sale are prohibited by law, or they can be legal but transacted to avoid taxes.
Illegal markets are also known as shadow markets or underground markets.
Shadow markets can have a number of negative consequences for the economy. They can reduce tax revenue, distort the market, and create opportunities for crime. It pushes out legitimate business people who cannot compete with the low prices provided by black market vendors.
Sa akin, black market is a form of economic sabotage. Na dapat s mas mataas na presyo maibenta ang produkto ay itinutulak ang produkto ng wala pa sa kalahati man lang ang presyo. Why? Kinuha lang nila sa gubat through Illegal harvest.