what is formal and informal sector
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formal sectors:- banks.
informal sectors:- friends, relatives, big landowner, etc.
ritikamlajiya:
not example full definition
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Answer:
answr
Explanation:
FORMAL SECTOR
formal sector is activities which are taxed and monitored by the government and the activities involved are included in the Gross Domestic Product(GDP).
INFORMAL SECTOR
In contrast to formal economy is the informal sector which is neither taxed nor included in the GDP and Gross national product (GNP) of a country.
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