Black Market Quiz

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| By Witherdome

Witherdome

Community Contributor

Quizzes Created: 1 | Total Attempts: 356

Questions: 10 | Attempts: 356 | Updated: Mar 21, 2023

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Questions and Answers

1.

The black market was caused by the Great Depression in America
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The black market was started when the British government introduced rationing of food in World War 2.

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2.

How does the producers of the black market produce things?
- A.
  
  Stealing
- B.
  
  Factories
- C.
  
  Forced labour
Correct Answer(s)
A. Stealing
C. Forced labour

Explanation
The producers of the black market produce things through stealing and forced labor. Stealing refers to the act of taking goods unlawfully without permission or payment, while forced labor involves compelling individuals to work against their will. These illegal practices allow black market producers to acquire resources and produce goods without following legal regulations or ethical standards.

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3.

How many people are involved in the black market? (Consumers and Producers)[Note that there are about 7 billion people in the world]
- A.
  
  500 Million
- B.
  
  700,000 Million
- C.
  
  1.8 Billion
- D.
  
  190,000
Correct Answer
C. 1.8 Billion

Explanation
Half of the workers in the world are involved in the black market.

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4.

Which country has the biggest black market?
- A.
  
  India
- B.
  
  United States Of America
- C.
  
  People's Republic Of China
- D.
  
  United Kingdom
Correct Answer
B. United States Of America

Explanation
USA has the biggest black market in the world

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5.

320 billion dollars worth of illegal drugs gets sold in the black market every year.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The given statement suggests that 320 billion dollars worth of illegal drugs are being sold in the black market annually. This indicates a significant global trade in illegal drugs that generates substantial revenue. The answer "True" confirms the validity of this claim, implying that the black market indeed facilitates the sale of such a massive amount of illegal drugs each year.

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6.

What is sold in the black market?
- A.
  
  Human Liver
- B.
  
  Sperm
- C.
  
  Marijuana
- D.
  
  Komodo Dragon
Correct Answer(s)
A. Human Liver
B. Sperm
C. Marijuana
D. Komodo Dragon

Explanation
The correct answer options listed are all commonly known to be sold in the black market. The black market refers to illegal trading or selling of goods and services, often outside of government regulation and control. Human organs, such as livers, are sometimes illegally traded on the black market for transplantation purposes. Sperm can also be sold illegally for various reasons, including fertility treatments. Marijuana is a commonly traded illegal drug, often found in the black market. Lastly, Komodo dragons are endangered species and their sale is illegal, making them a sought-after item in the black market.

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7.

What did the black market sell in World War 2?
- A.
  
  Food
- B.
  
  Alcohol
- C.
  
  Endangered Animals
- D.
  
  Clothes
Correct Answer(s)
A. Food
B. Alcohol
D. Clothes

Explanation
During World War 2, the black market thrived due to scarcity and rationing. With limited supplies, people turned to the black market to obtain essential items like food, alcohol, and clothes that were in high demand. The black market became a hub for illegal trading and selling of these goods, allowing individuals to bypass rationing restrictions and acquire items that were otherwise difficult to obtain through legal means.

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8.

If caught selling or buying nuclear weapons, you will:
- A.
  
  Get 30 Years Of Imprisonment
- B.
  
  Be Executed
- C.
  
  Get 10 Years Of Imprisonment
- D.
  
  Get Imprisonment Of A Lifetime
Correct Answer
B. Be Executed

Explanation
The given correct answer is "Be Executed." This means that if someone is caught selling or buying nuclear weapons, they will face the punishment of death. This severe penalty is likely imposed due to the extreme danger and potential catastrophic consequences associated with the possession and trade of nuclear weapons. The authorities consider it necessary to eliminate such individuals from society to prevent the proliferation of these weapons and protect global security.

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9.

Names for 'Black Market' :
- A.
  
  System D
- B.
  
  System B
- C.
  
  Underground Economy
- D.
  
  Black Economy
Correct Answer(s)
A. System D
C. Underground Economy
D. Black Economy

Explanation
The given answer options provide alternative names for the term "Black Market." "System D" refers to an informal economy where goods and services are exchanged outside of the legal framework. "Underground Economy" refers to economic activities that are not regulated or taxed by the government. "Black Economy" is another term used to describe illegal or unreported economic activities. Therefore, all three answer options are correct alternatives for the term "Black Market."

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10.

Transactions in the black market is recorded.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
Transactions in the black market is not recorded and cannot be taxed. There is also no receipt given and can't be accountable for faults.

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Current Version
Mar 21, 2023

Quiz Edited by
ProProfs Editorial Team
Nov 13, 2014

Quiz Created by
Witherdome

Black Market Quiz

The black market was caused by the Great Depression in America

How does the producers of the black market produce things?

How many people are involved in the black market? (Consumers and Producers)[Note that there are about 7 billion people in the world]

Which country has the biggest black market?

320 billion dollars worth of illegal drugs gets sold in the black market every year.

What is sold in the black market?

What did the black market sell in World War 2?

If caught selling or buying nuclear weapons, you will:

Names for 'Black Market' :

Transactions in the black market is recorded.