Question

What is formal and informal sector. Explain ?​

Answer 1

Answer:

Formal sectors represent all jobs with specific working hours and regular wages and the worker's job is assured. Conversely, informal or unorganized sectors are the ones where the employees or the workers do not have regular working hours and wages and are exempted from taxes.

Explanation:

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Answer 2

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☞formal sector:-activities that are taxed and monitored by the government and the activities involved are included in the Gross Domestic Product(GDP). ... Formal sectors represent all jobs with specific working hours and regular wages and the worker's job is assured.

➱informal sector:-informal sector enterprises, or as paid domestic workers by households. Employees are. considered to have informal jobs if their employment relationship is, in law or in practice, not subject to national labour legislation, income taxation, social protection or entitlement.