ESL Podcast 396 - Dealing in the Black Market

line of work - type of work; field or area of work; kind of job; industry

Sajid can't decide which line of work he wants to get into, but it will probably be computer programming or banking.

import/export - the process of buying/selling products internationally, bringing/sending them from one country to another

Cars are a very large part of the import/export market.

shifty - not straightforward; hiding something; not completely open or telling the whole truth

When we asked where she had been last night, she became shifty and wouldn't tell us.

on the up and up - legal; legitimate; straightforward and honest

We never buy medicine from a pharmacy unless we're sure that it's on the up and up.

black market - the economic system of buying and selling things illegally, usually because they are not available legally

All marijuana is sold on the black market because it is illegal to sell it in the United States.

free market - an economy where prices are set by the people who sell things, not by the government

The United States has a free market economy, so if there is a lot of something, it is cheaper than if there is very little of something.

gray market - an economic system between the black market and the free market, where buying and selling things is technically legal, but it seems wrong

Have you ever bought anything on the gray market?

stolen goods - things that have been taken from other people without their permission or knowledge and are then resold

That man is selling a lot of beautiful necklaces on the street, but I think they are stolen goods.

naive - not sophisticated; not knowledgeable about how the world really is, so one is easily tricked or confused by other people

Frannie has never been kissed, so she feels very naive around her married friends.

underground economy - black market; the economic system of buying and selling things illegally and not paying taxes or reporting on the business to the government

When countries have a lot of economic problems, sometimes the only way to buy food is through the underground economy.

smuggler - someone who takes things from one place to sell them in another place, usually between countries, illegally and without paying to do so

The police caught the smuggler trying to bring endangered animals into the country on a ship.

counterfeit - fake; false; not real; a copy of something that is made to trick other people into thinking that it is real

This $10 bill is a counterfeit, but it is very hard to see the difference between it and a real $10 bill.

pirated - copied illegally, usually music or a video, without permission from the original creator

Pirated CDs are much cheaper than the originals, but the musicians don't get any money when you buy them.

to go into business with (someone) - to begin to work with someone, usually as a partner; to open a new business with someone

Are you going to start the restaurant by yourself, or will go into business with James?

set in stone - firmly decided; definite; not going to change

They want to get married in June, but the date isn't set in stone yet.