A market that operates outside the legal system, either by selling illegal goods or by selling goods at illegal prices is referred to in economics as a
A) gray market.
B) resource market.
C) black market.
D) criminal market.

Question

Quizplus · Accepted Answer

A black market refers to the illegal trading of goods and services, either because the goods themselves are illegal or because they are sold at prices that violate government regulations.

A Market That Operates Outside the Legal System, Either by Selling