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black economy

black economy That portion of employment within the market economy that is not fully covered by official statistics, due to some degree of under-reporting which is assumed to be connected with tax evasion. Unfortunately, economic statistics are imperfect, so that gaps and inconsistencies are due more often to data-quality problems than to unreported black economy activity. Guesstimates of the size of the black economy are inflated by the substantial amounts of non-market work and marginal work in the informal economy.

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"black economy." A Dictionary of Sociology. . Encyclopedia.com. 22 Aug. 2017 <http://www.encyclopedia.com>.

"black economy." A Dictionary of Sociology. . Encyclopedia.com. (August 22, 2017). http://www.encyclopedia.com/social-sciences/dictionaries-thesauruses-pictures-and-press-releases/black-economy

"black economy." A Dictionary of Sociology. . Retrieved August 22, 2017 from Encyclopedia.com: http://www.encyclopedia.com/social-sciences/dictionaries-thesauruses-pictures-and-press-releases/black-economy

economy, black

economy, black See BLACK ECONOMY.

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"economy, black." A Dictionary of Sociology. . Encyclopedia.com. 22 Aug. 2017 <http://www.encyclopedia.com>.

"economy, black." A Dictionary of Sociology. . Encyclopedia.com. (August 22, 2017). http://www.encyclopedia.com/social-sciences/dictionaries-thesauruses-pictures-and-press-releases/economy-black

"economy, black." A Dictionary of Sociology. . Retrieved August 22, 2017 from Encyclopedia.com: http://www.encyclopedia.com/social-sciences/dictionaries-thesauruses-pictures-and-press-releases/economy-black