What does black economy mean?
Definitions for black economy
black econ·o·my
This dictionary definitions page includes all the possible meanings, example usage and translations of the word black economy.
Princeton's WordNet
black economynoun
a hidden sector of the economy where private cash transactions go unreported
"no one knows how large the black economy really is"
ChatGPT
black economy
The black economy, also known as the underground, shadow, or informal economy, refers to economic activities that are not regulated by the government and are not included in the gross domestic product (GDP). These activities typically involve cash payments, so they aren’t taxed and are often illegal. This can include illicit activities like drug trafficking, but also unreported income from otherwise legal activities, such as unreported tips or under-the-table jobs. It's called 'black' because the activities happen out of sight or 'in the dark' from the view of regulatory bodies.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of black economy in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of black economy in Pythagorean Numerology is: 2
Examples of black economy in a Sentence
Israeli Intelligence Minister Yuval Steinitz:
We always thought the illegal black economy in Israel is too big.
Israeli Intelligence Minister Yuval Steinitz:
I am not surprised, we always thought the illegal black economy in Israel is too big.
Britain is not an Eldorado for those who want to work in the black economy. We have tightened access to benefits.
Translations for black economy
From our Multilingual Translation Dictionary
- 黒人経済Japanese
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"black economy." Definitions.net. STANDS4 LLC, 2024. Web. 24 Apr. 2024. <https://www.definitions.net/definition/black+economy>.
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