The black market is known for the illegal trade that is taking place. The market itself is hidden from the public’s eye due to the state of the goods being traded. We are all aware that this kind of industry exists, yet none is really doing anything to put a stop to it, especially now that even endangered species are available in the market. Or even if there are efforts being done, it is still not enough. Trading of some of the most endangered species there is may result to various effects and that’s what our report would tackle. Endangered species would always be connected to black market and so it would be included in this research. Basically we would discuss about what causes black market, how it runs and why people resort to getting involved in this. We would also be featuring the different animals that are available in the black market. Articles and different researches would also be added, and of course how this affects the homeostasis in our environment. II. Black Market
A black market is one where the buying and selling of products and services take place in an illegal manner. A black economy is a highly organized and vast market where the regular taxation rules and norms of trade are not adhered to. A black market is known by several names, including black economy, underground market, shadow economy, underdog and parallel economy. In our report we would focus on the goods that are being sold in the black market which are causing the endangerment of certain species. The supposedly well-kept rare animals were being hunted for some materials which are subject to illegal trading. Some of the factors which contribute to the existence of black market are low availability of an item in the market, overpricing of the item in the local and international market, excessive regulations in the customs, corruption and less regulations concerning these things which produces laxity. In effect, the national income would be low, nations participating in the black market would be criticized, no tax revenue, lack of regulation and people learn to freely break the law and do what they want.
For example, the officials of the Philippines Government reported that farmers who trap native parrots and sell them to wildlife traffickers make around $12 (500 Philippine Pesos) per bird. However, the traffickers who buy the birds and then resell it on the black market can make up to 5 times that amount on average. There have also been reports of birds of prey in the country being sold for as much as $20,000.
Another common example is the ivory trade in the commercial, often illegally from the ivory tusks of the hippopotamus, walrus, narwhal, mammoth, and most commonly, Asian and African elephants. Ivory has been traded for hundreds of years by people in such regions as Greenland, Alaska, and Siberia. The trade, in more recent times, has led to endangerment of species, resulting in restrictions and bans.
Whatever the reason is, we really cannot blame any country or any government on why a black market actually exists in our time today. The black market caters to the needs of those buyers that are in need of specific items that are practically illegal so they could sell it to others. In short, the black market is a place where every illegal item is available at a low price. People who take part in this are protected in some kind of secrecy that values privacy. People resort to black market because of the availability of the items that are rare to find. For example are the endangered species being smuggled. The level of demand for these things is high just because of the rareness it possesses. People who tend to buy these things are actually after these exotic items which are rare to find. Some of it are available legally but not the endangered species. Even if they are, it will be too expensive, compared to the black market that offers low prices and quick availability.
The black market is dangerous yet people are...
Please join StudyMode to read the full document