Question

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Answer 1

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.