informal economy definition

informal economy

System of trade or economic exchange used outside state controlled or money based transactions. Practiced by most of the world's population, it includes barter of goods and services, mutual self-help, odd jobs, street trading, and other such direct sale activities. Income generated by the informal economy is usually not recorded for taxation purposes, and is often unavailable for inclusion in gross domestic product (GDP) computations.

informal economy is in the Banking, Commerce & Finance and Economics, Politics, & Society subjects.

informal economy appears in the definition of the following term: black economy

This content can be found on the following page:

http://www.businessdictionary.com/definition/informal-economy.html