Asked by Corinna Vogel on Apr 25, 2024
Verified
In a "black market,"
A) suppliers take advantage of buyers.
B) price is illegally below market price.
C) illegal trading at market prices takes place.
D) only illegal goods and services are traded.
Black Market
A market in which illegal trading takes place at market-determined prices.
Market Price
The present cost at which a service or asset is available for purchase or sale in the market.
Illegal Trading
The act of buying or selling goods or services that is not permitted by law, often involving prohibited items or violating trade regulations.
- Explain the conditions under which black markets may arise and their characteristics.
Verified Answer
MM
Marlene Moncy7 days ago
Final Answer :
C
Explanation :
A black market involves trading goods and services in violation of laws or regulations, often at market or inflated prices, not necessarily only involving illegal items.
Learning Objectives
- Explain the conditions under which black markets may arise and their characteristics.