Question

explain formal sectar​

Answer 1

Answer:

A formal sector of the economy is a well defined sector or an organized sector that contributes to the gross national product (GNP) and gross domestic product (GDP) of the country. It is also taxed and monitored by the government.

Answer 2

HeRe Is Your Ans ⤵

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➡Sector which encompasses all jobs with normal hours and regular wages, and are recognized as income sources on which income taxes must be paid is called Formal Sector

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