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STatiana [176]
3 years ago
11

1. What are some of the advantages of the informal economy? 2. What are some of the disadvantages of the informal economy?

Social Studies
1 answer:
Valentin [98]3 years ago
7 0
Some pros and cons of the informal economy:

1.) What are the advantages of the informal economy? (Pros)
1.1) Tax free remuneration and paid immediately in cash
1.2) Entrepreneurial spirit and having more control over your own life due to independence
1.3)Occupational skill building
1.4) Employment arrangements are relaxed and comfortable
1.5) It is the best solution to a temporary problem

2.) What are the disadvantages of an informal economy? (Cons)
2.1) There are no benefits for employees
2.2) The security of the economy is not guaranteed / lacking
2.3) There is a very limited credit establishment opportunity
2.4) People tend to slack in their work ethic
2.5) Not reporting income carries with it a lot of risk and penalties


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C

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This can be confused with racism, if what happened in the 20s happened now it would be but there is a difference between not wanting someone in your country based on race and not wanting someone in your country based on the times ideals. We need to stop judging people from over a century ago like we would today, it was a different time, different ideals and different motives. I am not discounting the presents of racism obviously but pointing out the cultural influences at the time.

that was for free lol

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