black market

¹ American  

noun

1. the illicit buying and selling of goods in violation of legal price controls, rationing, etc.

2. a place where such activity is carried on.

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black-market ² American  

[blak-mahr-kit] / ˈblækˈmɑr kɪt /

verb (used without object)

1. to black-marketeer.

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verb (used with object)

1. to sell (something) in the black market.

black market British  

noun

1. 1. any system in which goods or currencies are sold and bought illegally, esp in violation of controls or rationing

   2. ( as modifier )

      black market lamb

2. the place where such a system operates

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verb

1. to sell (goods) on the black market

black market Cultural  

1. The illegal buying and selling of goods above the price fixed by a government. Black markets usually develop when, because of war, disaster, or public policy, a government tries to set prices for commodities instead of allowing the normal operations of supply and demand to set prices.

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Other Word Forms

• black marketeer noun

Etymology

Origin of black market¹

First recorded in 1930–35

Origin of black-market¹

First recorded in 1930–35; v. use of black market

Example Sentences

He swapped soap for food or other goods on the black market.

From The Wall Street Journal

Rials needed to obtain 1 dollar on the black market*

From Barron's

He said it had a decent selection, with household brands priced higher than in the West but lower than on the Saudi black market.

From The Wall Street Journal

The gap between the official and black market rate is mounting as well, nearing 100 percent in an economy that has become increasingly dollarized as a way to tackle hyperinflation.

From Barron's

Soon there was a black market for maple syrup.

From The Wall Street Journal