Why do black markets still exist and thrive?

[Kera]

I see black markets for many regulated products. And they sell higher than the official market price for the products. Why do black markets still exist for regulated products despite the government regulations? Would you sell a black market for a product?

 

[magnus2022]

Black market exists and will continue to exist as far as human beings are corrupt and criminal minded. If government officials can do their jobs properly and stop creating fake scarcity, black market will die a natural death.

 

[Suba]

Black market is an illegal market especially to avoid taxes and customs, prices that are too far below the standard or official price, black market is often hidden if we get fake goods we can't complain, so we should avoid black market.

 

[Augusta]

It is still striving as we don't have a choice when products you need to buy isn't available where you should buy it

 

[Min George]

When there is scarcity in the official markers, there must be black market that would thrive very well.

 

[eLdavis]

It still exists because people still patronize them. If everyone stops patronizing them, i strongly believe it will stop to exist.

 

[aninditasen]

I see black markets for many regulated products. And they sell higher than the official market price for the products. Why do black markets still exist for regulated products despite the government regulations? Would you sell a black market for a product?

When there's a crisis in the market or some special documents are necessary to get the product, black marketers perpetuate there.

 

[Stardom22]

The black market thrives in the society because most people really like cheaper things. However the process is very harmful to the country's economy for that matter