BLACK MARKET: An illegal market in which the price of the goods sold is above a legally set maximum price. A black market invariable results whenever the government imposes a price ceiling on a good. A common example of a price ceiling is rent controls on apartments in many large cities. Although landlords cannot "legally" rent apartments for more than the specified maximum, they often do so "illegally" by charging "finders fees" and "tenant association dues." In so doing, they have entered into the realm of black markets.

     See also | market | price | government | price ceiling | price floor |

BLACK MARKET, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 5, 2025].

Back to the GLOSS*arama

A graphical depiction of the relation between aggregate expenditures by the four macroeconomic sectors (household, business, government, and foreign) and the level of aggregate income or production. The four-sector aggregate expenditures line combines consumption expenditures, investment expenditures, government purchases, and net exports. The slope of this aggregate expenditures line is based on the marginal propensity to consume, adjusted for marginal propensities of the other expenditures that are assumed to be induced when constructing the line. This is one of three aggregate expenditures lines based on the number of sectors included. The others are the two-sector aggregate expenditures line and the three-sector aggregate expenditures line.

Complete Entry | Visit the WEB*pedia

Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for rusty deck screws.
Your Complete Scope

This isn't me! What am I?

-- Peter Drucker, management consultant

User Feedback