thrived during prohibition, resulting in bloody battles over turf and profits. Although some people think that most illegal transactions are relatively harmless, the money generated is often used for nefarious purposes. At times, prices can be lower if the seller has lower “overhead” because he or she stole the good or is avoiding high taxes.Ĭonsumers are often willing to overlook the illegality of a black market transaction if they feel that the good or service is “harmless.” This is often the case with illegal prostitution and also applied to alcohol sales during prohibition. If it is a difficult good to acquire, it will have a higher price as well. The risk that a marketeer takes in acquiring and selling a good or service is also included in the price. Prices on this market tend to be higher due to smaller supply and constant demand.
Various knives and other weapons are often sold on the black market.Īlthough the consumer’s demand is met, usually the seller or “black marketeer” is the one who profits from a transaction.
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