gray market

(redirected from Unobserved Economy)
Also found in: Thesaurus, Financial.

gray market

1. The business of buying or selling goods, such as imports, at prices below those set by an official regulatory agency or at prices below those prevailing in an established market.
2. The business of buying or selling securities that have not yet been officially issued and are not available through established brokers.

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

gray′ mar′ket

1. a market operating within the law in which scarce goods are sold at above-market prices.
2. the selling of goods bought at a very large discount at prices substantially below the market price.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.gray market - an unofficial market in which goods are bought and sold at prices lower than the official price set by a regulatory agency
market, marketplace, market place - the world of commercial activity where goods and services are bought and sold; "without competition there would be no market"; "they were driven from the marketplace"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
KARACHI -- The size of Pakistan's economy is only $275 billion at present, which does not include the unobserved economy. According to a World Bank report, nearly half of the country's population is not part of the formal sector.
Fiscal Council holds the view that VAT tax evasion represents the difference between the theoretical level of the implicit VAT from of the economic activity, including the unobserved economy, and the VAT revenues collected by the State according to ESA95 methodology.
According to the Economy Ministry's action plan to reduce unobserved economy in 2015-2017, some of the causes of the shadow economy are: