Question

What are the difference between formal sector informal sector
Class 10

Answer 1

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Answer 2

Formal and informal sector:

• Formal sector is a Sector that includes all jobs with standard hours and fixed wages and is documented as income bases on which income taxes must be paid.

• An informal economy is mainly the section of any economy that is neither taxed nor examined by any sort of government. The most common example of the informal sector is the black market.

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