Black marketeering is a term that is often used to describe the illegal buying and selling of goods and services. This practice is often conducted outside of the formal economy and is typically associated with activities that are prohibited by law. In this article, we will explore the definition and meaning of black marketeering, its origin, and its associations.
Definitions
Black marketeering is the act of buying and selling goods and services outside of the legal marketplace. This can include the sale of stolen goods, counterfeit items, or illegal substances. The term can also refer to the practice of selling goods or services at prices that are higher than the market rate, often due to scarcity or demand.
Origin
The term black marketeering has its roots in the early 20th century, when it was used to describe the illegal sale of goods during times of war or economic hardship. The practice became more widespread during the Great Depression, as people looked for ways to make money in a difficult economic climate.
Meaning in different dictionaries
According to the Merriam-Webster dictionary, black marketeering is “the illegal buying and selling of goods or services, especially in violation of price controls or rationing.” The Cambridge Dictionary defines it as “the buying and selling of goods illegally, especially when this is done during a war or when there are other difficult economic conditions.”
Associations
Black marketeering is often associated with organized crime, as criminal organizations may engage in the illegal sale of goods and services for profit. It is also associated with corruption, as individuals may bribe officials to gain access to restricted goods or services.
Synonyms
Synonyms for black marketeering include underground economy, shadow economy, and illicit trade.
Antonyms
Antonyms for black marketeering include legal trade, formal economy, and above-board transactions.
The same root words
The term black marketeering is derived from the words “black market,” which refers to the illegal sale of goods and services. The word “market” comes from the Latin word “mercatus,” which means “trading.”
Example Sentences
- The government has imposed strict price controls to prevent black marketeering.
- The black marketeering of stolen goods has become a major problem in the city.
- The scarcity of essential goods during the war led to widespread black marketeering.
Black marketeering is a term that is often used to describe the illegal buying and selling of goods and services. It is associated with organized crime, corruption, and economic hardship. While it can provide a means of survival for some individuals, it is generally considered harmful to the economy and society as a whole.