Hello, I would like you to answer the question below and be as specific as possible. I have attached the PowerPoint slides; the explanation should be all in your word.
What is a black market (please give a real world example). Under what circumstance do black markets arise?
Your answer should be at least a paragraph and a half, which means you are looking for at least eight lines. Please make sure to answer each part of the question above. I have attached the PowerPoint slide to help you answer this question. I’m going to list here other people’s discussion boards where it can be helpful to you to finish this one. They are my classmate. After finishing answering the question, I would like you to write comments for each one of the discussion boards that I’ll post here for you. the Answer should be minimum four lanes
First Student:
A black market is a place that traffics or trades “goods” illegally. A real world example of this is what is actively being sold on the black market, such as illegal drugs, exotic animals, human organs, weapons, and many more things.
Black markets arise when governments place stricter control on goods, such as taxes. Apart from wanting to buy illegal items for their own use, many people seek the black market to avoid taxes, price control, and contraband. This in turn causes the market to arise.
Second Student:
Black Market is a term called on any illegal trade between the seller and the buyer out the government’s supervising. Black Market traders deal with forbidden goods (guns and drugs), scarce goods (limited in the regular markets), and non-taxed goods (alcohol and tobacco). There are many conditions forced people looking for their wants through this illegal trade to meet their needs like drug addicts looking for allowed drugs, petrol investors looking for extra oil, and smokers looking for cheapest tobaccos. This kind of supply and demand arises in this market which creates gaps between the consumers and the normal markets. This in turn, negatively influences the economy since legality, quantity, and quality of goods are affected by the black markets.
Thank you so much!
