By Baak Chan Yak Deng, Juba, South Sudan
March 28, 2017 (SSB) — Black markets typically exist because the regular markets are not going to provide a seller the highest possible revenue for an item he has for sale. Because black markets are illegal, the seller requires a substantially higher price than he would get on a legal market.
Reasons for regular markets to not support the higher price would be that the item being sold is illegal or the item being sold has some kind of price control on it that prevents the seller from getting the full amount a buyer is willing to pay.
Illegal items can include goods that have been banned, or goods that have been stolen and cannot be represented as legally obtained by the seller. Examples of banned items are certain arms and ammunition, drugs, books, videos and other compilations of information or ideas that have been prohibited in that jurisdiction.