Marketplace®

Daily business news and economic stories
Season 4Episode 1Feb 7, 2023

What is the black market?

Grab a snack and we’ll explain.

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What is the black market?
Camila Kerwin

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It’s the start of a brand-new season, and Bridget and Ryan visit a local school for a Career Day assembly. When hunger strikes, they get caught up in an underground, “black market” snack operation that gets them into a bit of trouble. Today, we’ll learn all about the black market, what it is, why some people turn to black markets to buy the things they want or need, and some potential consequences.

 
Camila Kerwin
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And now … tips for grown-ups listening to “Million Bazillion” with kids

Money Talks

After you listen to the episode, here are some questions you can ask kids about black markets:

  1. What is a black market?

  2. True or false: All black markets sell illegal stuff. 

  3. What are some examples of black markets?

  4. Why do black markets exist?

  5. What are some other words people use to describe a black market?

(Scroll down or click here for the answers!)

Tip Jar

If you and your kids want to learn more about black markets, here’s some extra material you might find helpful:

Gimme 5

Thanks for listening to this episode. Do your kids still have questions about black markets or anything else related to money? Send them to us using this online form.

Money Talks Answers

  • Buying and selling things in a way that’s against the rules.

  • False.

  • Answers will vary. May include snacks, drugs, weapons, clothing, sneakers.

  • Answers will vary. May include to sell illegal items or to avoid taxes and government regulations.

  • They might use terms such as “underground economy,” “illicit market,” “illegal trade” and more.

This episode is sponsored by Greenlight.  (For a limited time, get $10 when you sign up for a Greenlight account at greenlight.com/MILLION).

The Team

Thanks to our sponsors

NGPF

The Ranzetta Family Charitable Fund and Next Gen Personal Finance, supports Marketplace’s work to make younger audiences smarter about the economy. Next Gen Personal Finance is a non-profit that believes all students benefit from having a financial education before they cross the stage at high school graduation.

Greenlight

Greenlight is a debit card and money app for kids and teens. Through the Greenlight app, parents can transfer money, automate allowance, manage chores, set flexible spend controls and invest for their kids’ futures (parents can invest on the platform too!) Kids and teens learn to earn, save, spend wisely, give and invest with parental approval. Our mission is to shine a light on the world of money for families and empower parents to raise financially-smart kids. We aim to create a world where every child grows up to be financially healthy and happy. Today, Greenlight serves 5 million+ parents and kids, helping them learn healthy financial habits, collectively save more than $350 million to-date and invest more than $20 million.

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