Question

difference between formal sector and informal sector

Answer 1

formal sector is that which is organized by the government or any other legal organization.....whereas informal sector is not organized by an individual or a grp of individual...

formal sector charges less interest rate....whereas informal sector charges high interest ratew....

formal sectors requires documents like collateral while informal sector does not require such type of documents..


banks , cooperatives belong to formal sector whereas landlord , friend etc belongs to informal sector


hope it will help you...

Answer 2

Answer:

Explanation:

formal sector is that which is organized by the government or any other legal organization.....whereas informal sector is not organized by an individual or a grp of individual...

formal sector charges less interest rate....whereas informal sector charges high interest ratew....

formal sectors requires documents like collateral while informal sector does not require such type of documents..

banks , cooperatives belong to formal sector whereas landlord , friend etc belongs to informal sector

hope it will help you...