The demand by sterile couples for babies to adopt has grown rapidly, while the supply has dwindled because of improved contraception, liberal abortion laws, and an increase in the probability that unwed mothers will keep their children.It violates the law to sell human beings at any age, but for every twenty legal adoptions there seemingly is one baby sale at a price up to $50,000.The generic term economists apply to the market produced by this type of shortage is
A)"black market."
B)"white slave market."
C)"the adoption market."
D)"baby market."

Question

The demand by sterile couples for babies to adopt has grown rapidly, while the supply has dwindled because of improved contraception, liberal abortion laws, and an increase in the probability that unwed mothers will keep their children.It violates the law to sell human beings at any age, but for every twenty legal adoptions there seemingly is one baby sale at a price up to $50,000.The generic term economists apply to the market produced by this type of shortage is
A)"black market." 
B)"white slave market." 
C)"the adoption market." 
D)"baby market."

Quizplus · Accepted Answer

The generic term economists apply to the market produced by this type of shortage is "black market." This describes an illegal market where goods or services are exchanged outside of the legal channels. In this case, the exchange of babies for money is illegal and therefore considered a black market.

The Demand by Sterile Couples for Babies to Adopt Has