The Informal Economy is neither taxed nor monitored in any form of government . Example Prostitutes in United States
Explanation:
Advantages of Informal Economy :-
1. Large Scale Employment- Employment opportunity is given to large number of people.
2. Well Payed - As the owners do not have many tax obligations hence the employed people are well paid
Disadvantages of Informal Economy
1. No Job Security - No assurance of job as it is uncertain to work in a informal sector
2. Odd working hours - like night shifts are there which sometimes is uneasy and difficult to do.
