Explain black marketing.
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A black market is economic activity that takes place outside government-sanctioned channels. Black markettransactions usually occur “under the table” to let participants avoid government price controls or taxes.
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Answer:
Black marketing refers to the illegal exchange of goods and services to evade the trade rules and regulations of the government.
The two most common practices are:
1. Human trafficking- Trading of humans within or across borders for several purposes.
2. Trading of drugs- Illegal trafficking of drugs that are generally prohibited by the law.
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