A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is characterized by ...
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noncompliance with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution is prohibited or restricted by law, non-compliance with the rule constitutes a black market trade since the transaction itself is illegal. Parties engaging in the production or distribution of prohibited goods and services are members of the illegal economy[clarification needed]. Examples include the illegal drug trade, prostitution (where prohibited), illegal currency transactions, and human trafficking. Violations of the tax code involving income tax evasion constitute membership[clarification needed] in the unreported economy[clarification needed].