What Are Some Ways To Stop Black Market?

[Good-Person]

Black market is one of the worst markets. Unfortunately, it is really hard to stop such kind of market because this kind of market will exist, no matter what. So, what steps could be taken to end this kind of market? I do not think that we should rely entirely on the government to stop this kind of market.

 

[Shortie]

Unfortunately at the moment, I feel that is what a lot of people are doing, they are relying on the government to stop the black markets but it does not seem to be working. More needs to be done to not only punish those who sell on the black market but also punish those who buy from the black market as well and encourage it. I feel is they were to punish both sides then it may start to bring things to a halt but for now, I think we are going to see the black market around for many years to come.

 

[Trey]

The best way I think black markets can be stopped is by allowing free market enterprise to determine the price of products. Black markets arise mainly because governments try to regulate prices by fixing price ceilings. That would bring about artificial scarcity and then black market would arise from the forces of demands and supply.

 

[Abigael]

The black market is liked by most people because they sell things cheaply. I think government policies should also aim at discouraging citizens from patronizing these black markets. For example, being found with black market products should be a crime.

 

[Heatman]

Black market is one of the worst markets. Unfortunately, it is really hard to stop such kind of market because this kind of market will exist, no matter what. So, what steps could be taken to end this kind of market? I do not think that we should rely entirely on the government to stop this kind of market.

The government is always behind it because they are the one's that hoard what's supposed to be out well in circulation. It's like what's going on with our lack of new Naira notes but you can buy it from black market which are the POS dealers.

 

[Planbizzle]

Black market is one of the worst markets. Unfortunately, it is really hard to stop such kind of market because this kind of market will exist, no matter what. So, what steps could be taken to end this kind of market? I do not think that we should rely entirely on the government to stop this kind of market.

There are several approaches to combat the black market, including enhancing law enforcement and criminal justice initiatives, stiffening punishments for unlawful activity, educating the general public, and enacting socioeconomic regulations that render access to or profit from the black market tough.

 

[Connor909]

Governments and groups can combat the black market in a number of ways. Increasing law enforcement and enforcing existing laws is one of the most efficient methods to do this. This may entail strengthening current regulations to make it harder to engage in such activities and imposing tougher punishments on anyone found guilty of participation in the black market. Governments can also try to reduce the demand for black market goods by establishing legal substitutes for those products or by improving existing services so that it is easier for individuals to use them legally.

 

[Jonaville]

Black market is one of the worst markets. Unfortunately, it is really hard to stop such kind of market because this kind of market will exist, no matter what. So, what steps could be taken to end this kind of market? I do not think that we should rely entirely on the government to stop this kind of market.

The scarcity of a particular commodity is the major reason why people buy from black markets but if the commodity is available, there will be no reason for such

 

[Ernestnari]

The best way to stop black market is to block anything that wouid bring about scarcity and hoarding. These are the two factors that can stop black market. Also, regulations should be made against anyone who sells above recommended price.

 

[Nomad]

Some businesses and individuals like to become successful in a short time, therefore, they will always seek unethical practices to become rich. Therefore, you cannot stop the black market.

 

[Heatman]

Governments and groups can combat the black market in a number of ways. Increasing law enforcement and enforcing existing laws is one of the most efficient methods to do this. This may entail strengthening current regulations to make it harder to engage in such activities and imposing tougher punishments on anyone found guilty of participation in the black market. Governments can also try to reduce the demand for black market goods by establishing legal substitutes for those products or by improving existing services so that it is easier for individuals to use them legally.

Unfortunately they're in my country and the government are even involved in helping black market to actually be in business which makes it very difficult for you to stop them from operating because they are backed by the government.

 

[Shigobad2020]

The government have a major and important role to play in stoping the issue of black market , most especially petroleum by making sure that there's adequate provision of petroleum from time to time .
The government have a major and important role to play in stoping the issue of black market , most especially petroleum by making sure that there's adequate provision of petroleum from time to time .

 

[Mayorla]

The government have a major role to play in stopping Black Market, and I strongly believe that the Government are responsible for the existence of Black Market in the first instance. Whenever, there's scarcity of a commodity, There is bound to be a black market.

 

[Laurentta]

It is true the government has a huge role to play in stopping black market but we can help to stop black market by reporting anyone we know that is involved in it to the police.

 

[Ernestnari]

One way to stop black market is to legalize those goods and services that are offered in the black market. This would just make it open and less attractive to be sold in the black market.

 

[Grant]

Well define black market? Because a lot of the time people paint certain things as black market, when it is not. There are people who will sell knock-off junk, and bootleg junk, but there are going to be the legit vendors out there trying to sell legit products, that then get overshadowed by these potential scammers.

There really isn't much we can do about it, as some places it will stick around. But, you can help by not purchasing from markets that sell suspicious products/fake products/etc.

 

[Abigael]

One way to stop black market is to legalize those goods and services that are offered in the black market. This would just make it open and less attractive to be sold in the black market.

That is true. If the products are not harmful, they should be legalized. Another way is for the government to subsidize those products. If they are sold at the same price as the legal market, no one will patronize black markets.

 

[Shigobad2020]

One way to stop black market is to legalize those goods and services that are offered in the black market. This would just make it open and less attractive to be sold in the black market.

The are some goods that cannot be legalized intonthe country because they are harmful . And the government should stop putting ban on some product in the market .

 

[Trey]

Well define black market? Because a lot of the time people paint certain things as black market, when it is not. There are people who will sell knock-off junk, and bootleg junk, but there are going to be the legit vendors out there trying to sell legit products, that then get overshadowed by these potential scammers.

There really isn't much we can do about it, as some places it will stick around. But, you can help by not purchasing from markets that sell suspicious products/fake products/etc.

That is not it. A black market is a market segment that sells out of government regulations. Like in my country, the government has fixed a dollar at #450 but the black market sells at #750. And they are thriving because the government can't supply enough dollars.

 

[Ernestnari]

The are some goods that cannot be legalized intonthe country because they are harmful . And the government should stop putting ban on some product in the market .

We know harmful goods and that's not what we are talking about here. There are some goods that are not harmful but government bans them. There was a time they banned importation of rice in my country. Foreign rice was now sold in the black market and it was very expensive.