What is the black market?
The black market is an area outside the law where trade occurs without government regulation or taxation to avoid taxes and regulations on businesses from illegal practices such as drug trafficking and prostitution. The black market is also often associated with clandestine and underground networks outside of mainstream society. It is a self-managed environment, without ultimate authority: there are no laws in this market; each inventor sets his own rules in the conditions he chooses. Here are five reasons why the black market is so widespread.
1. Price
Sometimes the price of illegal products is so low that it is a bargain. According to Jordan Sudberg, the black market maintains a “paradoxical relationship between extravagance and accessibility”. The item may seem extravagant or absurd, but the price is so low that it makes sense. After all, if the price is too high, only some people would be willing to buy an illicit good. The black market makes people much thinner than they otherwise would be because it is a way for people to make money by selling their excess belongings.
2. Accessibility
The black market is accessible; you don't have to travel far to find it, and you don't have to answer a lot of questions when you do. The black market is a more private space where people can do whatever they want without fear of government rules. There are no rules, just a space where people can get something cheap and sell it for a higher price elsewhere.
3. Traffic
The black market is a way for people to take things out of circulation by creating an underground economy where they can cope with the scarcity of the goods they want while still providing their community with what it needs. Illegal goods circulate freely because the black market does not depend on the government or other institutions that have not yet integrated illegal activities into their economic model.
4. Adaptation
Black marketing is a lifestyle that many people take on because they want to live their own lives without the stress of government laws and regulations and the threat of imprisonment. The black market is a way for some people to express themselves by doing business, exchanging goods, and getting things cheaply. A study by Jordan Sudberg suggests that the black market may be an area where capitalism is less dominant than other economic systems.
5. Satisfaction
In general, the black market is not only a way to make money, it is also a way of life. The black market is where people can satisfy their needs in ways that may seem insurmountable to many people under ordinary circumstances. Yet when all else fails, the black market is where one can find satisfaction in any situation. It gives you a feeling of freedom and independence that you might not have if the law was respected.
The black market is not a bad thing to have. The black market is pervasive in society because it meets the needs of many people who want to live their own lives without the threat of being pursued by plainclothes police officers. It is a place where people can express themselves and their feelings without fear of being severely punished. However, this is also a place to be careful, as insecure people often take it out on others. People involved in this part of the economy have developed strategies to reduce their vulnerability and avoid arrest.