What Is the Difference Between Black Market and Gray Market

question 29

Multiple Choice

What is the difference between black market and gray market activities?

• A) Neither are included in GDP, but black market items are illegal and gray market items are legal.
• B) Neither are included in GDP, but gray market items are illegal and black market items are legal.
• C) Black market items are not counted in GDP, but gray market items are.
• D) Both are included in GDP, but black market items are illegal and gray market items are legal.

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Definitions:

Needles

Thin, pointed metal objects used for sewing, knitting, or as part of medical instruments for injecting substances into the body.

Physical Plant

The facilities, buildings, and equipment owned by an organization that are used for its operations.

Systems and Procedures

Established methods and organized processes created to conduct activities and tasks in a consistent and orderly manner.

Technology

The use of scientific understanding for real-world applications, particularly in the industrial sector.