shadow market

Meanings

1. 1nouncountable

   An unofficial or illegal market where goods or services are traded outside official channels.

   Grammar: Countable; can be used with a/an or in the plural: a shadow market, shadow markets.

   Patterns

   • shadow market for something
   • in the shadow market

   A shadow market for prescription drugs has grown online.

   The government is trying to shut down the shadow market in stolen goods.

   Shadow markets often operate without any consumer protection.

2. 2nouncountable

   A part of the economy that is not regulated or taxed by the government, often called the informal economy.

   Grammar: Often used in the plural: shadow markets.

   Patterns

   • the shadow market
   • shadow market activity

   Many workers earn a living in the shadow market, outside official employment.

   The shadow market makes up a significant portion of the economy in some countries.

Word forms

Common combinations

shadow market for

There is a shadow market for rare antiques.

shadow market in

The shadow market in counterfeit goods is growing.

operate in the shadow market

Some businesses operate in the shadow market to avoid taxes.

Synonyms and how they differ

black market

More common and often implies illegal goods; 'shadow market' is broader and can include legal but unregulated trade.

underground market

Similar, but 'underground' often suggests secrecy; 'shadow market' is used more in economic analysis.

informal economy

Refers to the whole unregulated sector, not a specific market.

Opposites

Commonly confused: shadow market or black market?

Practice

Make it your own

Write a sentence using “shadow market”, then check it and compare it with the examples above.

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