What is the difference between a Grey & a Black Market?
What is the difference between a Black and a Grey Market?
(serious answers only please, and provide a source - NOT Wikipedia.)
The black market is not a physical place, but rather an economic activity in which merchandise and/or services are bought and sold illegally. Also called the “underground marketmarketmarket,” the blackmarket gets its name due to the fact that its activity is conducted out of sight and often “in the dark,” outside the sight of law enforcement. The black market can be illustrated by something as innocent and innocuous as selling gum on the playground, or by something as serious as the sale of smuggled weapons or drugs.
the grey market or gray market is the trade of a commodity through distribution channels which, while legal, are unofficial, unauthorized, or unintended by the original manufacturer. In contrast, a black market is the trade of goods and services that are illegal in themselves and/or distributed through illegal channels.
The two main types of grey market are imported manufactured goods that would be normally unavailable or more expensive in a certain country and unissued securities that are not yet traded in official markets
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