Question

what is formal sector

Answer 1

The informal sector, informal economy, or grey economy is the part of an economy that is neither taxed, nor monitored by any form of government. Unlike the formal economy, activities of the informal economy are not included in the gross national product (GNP) and gross domestic product (GDP) of a country.


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Answer 2

those office which are operated under government supervision or private supervision is called formal sector which also have some rules