Black Market is a Buzzword slang which describes the economic and financial activities taking place secretly outside the government approved systems. These practices are indulged for a variety of reasons like avoiding incidence of tax, siphoning of money outside the country and keeping them secretly in secret accounts in some other countries, bringing into a country unaccounted money from some other countries, and many such activities which are not legally approved. Black Market also describes exchange of goods (and sometimes services too) in an illegal manner like buying an selling of illicit and prohibited drugs, firearms, stolen and contraband goods, etc.
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