Want to say informal economy differently? Here are other words for informal economy and its similar synonyms and opposite words to say in unique way.
Meaning of informal economy
The primary meaning of "informal economy" refers to economic activities that are not formally registered or regulated, often involving unreported or untaxed transactions.
Etymology of informal economy
The term "informal economy" originated in the 1970s to describe economic activities that were not formally recognized or regulated.
The word "informal" comes from the Latin "informalis," meaning "not formal" or "unofficial."
The concept of an informal economy has been present throughout history, but the term gained prominence in the context of developing economies and the rise of globalization.
Synonyms
Definitions
- The informal economy refers to economic activities that are not formally registered or regulated, often involving unreported or untaxed transactions.
- * It encompasses a range of activities, including self-employment, street vending, and other forms of unregulated work.
Usage Examples
- The informal economy is a significant sector in many developing countries, providing livelihoods for millions of people.
- * The government has implemented policies to formalize the informal economy and bring more businesses into the tax net.
- * The rise of the gig economy has led to an increase in informal employment arrangements, raising concerns about worker rights and social protection.