Black Economy : | |||||||||||||
Black Economy: The segment of a country’s economic activity that is derived from sources that fall outside of the country’s rules and regulations regarding commerce. The activities can be either legal or illegal depending on what goods and/or services are involved. As example, a construction worker who is paid under the table will neither have taxes withheld, nor will the employer pay taxes on the his earnings, this case is one of Black Economy. |
|||||||||||||
|