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| 1. |
What is a black market ? Why does it exist ? |
| Answer» <html><body><p><br/></p>Solution :In a black <a href="https://interviewquestions.tuteehub.com/tag/market-25464" style="font-weight:bold;" target="_blank" title="Click to know more about MARKET">MARKET</a>, goods are <a href="https://interviewquestions.tuteehub.com/tag/sold-631881" style="font-weight:bold;" target="_blank" title="Click to know more about SOLD">SOLD</a> at a price higher than the maximum price fixed by the government. Black markets <a href="https://interviewquestions.tuteehub.com/tag/exist-979486" style="font-weight:bold;" target="_blank" title="Click to know more about EXIST">EXIST</a> because buyers are ready to pay a price fixed by the market in order to buy the desired quantity of <a href="https://interviewquestions.tuteehub.com/tag/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a>.</body></html> | |