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Seinfeld Economics: The Opera

by Linda Ghent

Gains from exchange refer to the net benefits to agents from voluntary trading with each other.

A black market is one in which certain goods or services are routinely traded in a manner contrary to the laws or regulations of the government in power. Typical reasons why the market goes underground in this way include the desire by substantial numbers of buyers and sellers to evade restrictive government price controls or inconvenient rationing schemes, to avoid paying heavy taxes on the good or service in question, or simply to be able to obtain forbidden goods or services that the government does not want the people to have at all.

 

Seinfeld: The Opera

George and Kramer try to scalp opera tickets. George succeeds.

from Seinfeld, Season 4 (1992)
Creator: Larry David & Jerry Seinfeld
Posted by Linda Ghent
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