https://www.tutor2u.net/economics/reference/how-do-shadow-black-markets-develop-in-an-economy?srsltid=AfmBOoomX0PpAzD-XlyHimlc0eozjMV862F5vOYU8wmv04H-cUtZbQM4
Jul 15, 2023 — Black markets, also known as shadow markets, emerge due to various economic, social, and legal factors. They refer to illegal or underground networks.