Differentiate between formal sector and informal sector

Geography

2 answers:

vlabodo [156]3 years ago

7 0

Answer:

a formal sector are activities which are taxed and monitored by the government and the activities involved are included in the Gross Domestic Product(GDP).

Explanation:

Sidana [21]3 years ago

4 0

Answer:

Wikipedia defines formal sector as activities which are taxed and monitored by the government and the activities involved are included in the Gross Domestic Product(GDP).

Explanation:

In contrast to formal economy is the informal sector which is neither taxed nor included in the GDP and Gross national product (GNP) of a country.

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