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What is meant by black-marketing? - Economics

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प्रश्न

What is meant by black-marketing?

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उत्तर

Black market is a market in which goods are sold illegally at prices higher than a legally fixed price by the government. Black marketing occurs when a price ceiling is imposed and demand exceeds supply. It leads to illegal transactions outside official channels. Consumers are often forced to pay more due to scarcity of the product. It is harmful to the economy and unfair to consumers.

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  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
पाठ 6: Market Mechanism: Equilibrium Price and Quantity in a Competitive Market - TEST YOURSELF QUESTIONS [पृष्ठ ११४]

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फ्रँक Economics [English] Class 12 ISC
पाठ 6 Market Mechanism: Equilibrium Price and Quantity in a Competitive Market
TEST YOURSELF QUESTIONS | Q 27. | पृष्ठ ११४
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