The Show Time/Himani Sharma

Black markets, also called shadow markets, come about when people want to exchange goods or services that are prohibited by the government. Black money is the proceeds of an illegal transaction, on which income and other taxes have not been paid, and which can only be legitimized by some form of money laundering. A black market is an economic activity that takes place outside government-sanctioned channels. The term black and blue refers to colors of a bruise something that is black and blue has been hurt either physically or emotionally when used literally, the phrase describes a physical injury. The black market stand takes a toll on an economy since they are Shadow markets where economic activity is not recorded, and Taxes are not paid. Sometimes, the black market is the only choice for procuring goods in certain situations, for example, suppose you are on vacation with your family in an exotic location and run out of formula for your baby? Instead of a clear movement toward more formalized economic transactions, demonetization in India has reinforced the informal economy. In competition with Canadian black markets, legal Cannabis has potential strengths and weaknesses. Most flow directly from government policy choices.

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