Informal economy

Definition of Informal economy

Taxation is not applied on the section of an informal economy that is controlled and counsel by any form government or included in any gross national product (GNP). The economic system is more or less opposite to an informal sector. The term is used to describe and take accounts of forms of shelter or living arrangements that are unlawful and unregulated.

Books on Informal economy

Book 1 –

Informal Sector: Concept, Dynamics, Linkages & Migration By Kishor Chandra Samal (published by Concept Publishing Company, 2008)

Book 2 –

Meeting Basic Learning Needs in the Informal Sector Edited by Madhu Singh (published by Springer Science & Business Media, 2006)

How Informal economy works?

An ideal example of an informal economy is supermarkets. Informal economy is based on the informal structure that shows how people work together and practice the tasks, and the example of an informal structure is nurses who work the night shift at a hospital or first grades teachers.

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