ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Barter
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Subsistent income
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Black market
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Dividend
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Detailed explanation-1: -Activities in the black market may include selling prohibited drugs, gunrunning, terrorism, and human trafficking. Black market activities also involve less severe offenses, such as the sale of counterfeit goods, stolen credit cards, or pirated versions of copyrighted material.
Detailed explanation-2: -A black market is a system that exists in violation of the rules or laws in a place where such a system operates. It is an economic activity that exists and functions beyond the purview of sanctioned channels. It is non-compliant to institutionalized parameters and hence illegal.
Detailed explanation-3: -In India, black money is funds earned on the black market, on which income and other taxes have not been paid. Also, the unaccounted money that is concealed from the tax administrator is called black money. The black money is accumulated by the criminals, smugglers, and tax-evaders.
Detailed explanation-4: -Crime. Corruption. Non-compliance with tax requirements. Complex procedural regulations. Money laundering. Smuggling.