Introduction
The black market is a term used for goods or services that are illegal in a given country. It can be used to refer to the practice of buying and selling goods at prices higher than what is legally permitted or at prices below their fair market value. The opposite of black market is the legal market, which refers to goods and services authorized by law or regulation.
Black Market have many reasons
Black market is a market that operates in the shadows of the formal economy. It’s illegal trade, and it’s not taxed or regulated by any authority.
The black market has many reasons for being there:
- The government does not have enough money to provide all its citizens with what they need or want. This means that people will find ways to buy these things themselves if they can’t get them from other sources (e.g., going abroad).
- People are afraid that if they buy something from a legitimate source or even try to sell their own goods then it might be confiscated by authorities because this would mean giving up some of their wages/income which could then go towards paying taxes back into government coffers instead.*
So many reasons for Legal market
Why should you choose a legal market?
- It’s easier to access. When you buy from a legal market, there is no need for travel or transportation. You can also make payments at any bank branch and get cashback in the form of cashback credit card or debit card that is issued by that specific bank. This makes it easy for people in rural areas who cannot afford to travel long distances every time they want something new or different.
- It’s cheaper than black markets because sellers don’t have to pay taxes on their profits like those who sell items on streets do (and these taxes add up). So if you’re buying something worth more than $100 USD at one place but only spend $80 USD when buying from another place nearby where prices are higher than expected due largely due lack of competition among sellers; then why not just go with your first option since there’s no risk involved?
Black Market
The term black market can be used to describe the sale or trade of illegal goods, services, or both on the black market.
Examples of items that may be considered illegal in some jurisdictions include controlled substances (e.g., drugs), kleptomaniacs who steal from stores and steal credit cards to purchase expensive items without paying for them (credit card fraud), counterfeiters who make fake products for resale and thieves who steal valuables from homes during robberies.
Legal market
The legal market is a market that operates within the law, and is regulated by the government. This means that it is not illegal to sell goods or services in this sector. However, you will need to comply with certain regulations and requirements to operate in this sector.
The benefits of operating within the legal market include:
- You can work legally
- You can make a good income
Counter Trade
Countertrade is a form of barter in which you trade one product for another. It’s also called direct exchange, since you’re trading directly with another person. For example, if you’re traveling to Ethiopia and want to buy some clothes from the Ethiopian underground market but don’t have enough money, countertrade can help:
- You can go to an Ethiopian clothing store and pay for your purchases with U.S dollars or euros. Then when you leave the country (or even before), give them their money back instead of selling what they bought from you through some other method such as cash on delivery or wire transfer—or just tell them not to worry about paying anything back because there will be no need since everyone knows not everyone will agree on prices here!
In Black Market we should put legal efforts to minimize it
In this article, we will discuss the Black Market and its consequences on our society. To avoid black market, it is very important to minimize it in our country. We should try to avoid illegal trade of any kind. We should also try to reduce the illegal activities such as selling drugs or selling weapons etc., that are related with black economy. The most important thing is not only minimize but also eliminate these activities from your life so that you can live peacefully without any fear or threat from others (this might be very difficult because sometimes people have no choice).
Conclusion
Black Market has many reasons that we should not ignore. But if we do not have legal efforts, it will be difficult to avoid black market business.
