Black Market Economics - What Drives the Underground Economy?: Introduction and What is the Black Market

The video explores the vast influence of black markets, which surpasses many legal industries in size. It delves into the economic impact of illegal trades, the nature of black markets, and the risks involved in transactions. The video also highlights the significant counterfeit goods market, its effects on innovation, and the challenges in combating these illicit trades.

What are the implications of the black market on consumer safety and product quality?

What are the economic consequences of counterfeit goods on innovation?

How does the black market fill the gaps created by government regulations?