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
Development in agriculture only comes with fair, democratic and scientific distribution. If major land holdings are under only few people and other remain landless, then it leads to poverty, unemployment and slow rate of development in a country.
