Sociology, asked by RubyRoseBright, 1 year ago

briefly explain informal economy..

Answers

Answered by ssanjana9
6
System of trade or economic exchange used outside state controlled or money back transactions.Practised by most of the world's population it includes barter of goods and services,m utual self-help,odd jobs,s Street trading,and other such direct sale activities.Income generated by the informal economy is usually not recorded for taxation purposes,and is often unavailable for inclusion in gross domestic product(GDP) computations.

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Answered by samridhreigns
0
The informal economy is the diversified set of economic activities, enterprises, jobs, and workers that are not regulated or protected by the state. The concept originally applied to self-employment in small unregistered enterprises. It has been expanded to include wage employment in unprotected jobs.
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