Answer: undergound economy is when goods and services are bought and sold under the table without receipts, invoices or bills or any document that accredits the transaction. The intention is not to pay taxes and avoid expenses related to the transactions.
Explanation: the reason of underground economy is mainly poverty, ignorance and excessive regulation. Governments also make the cost of being formal and paying taxes very expensive with excessive regulations that tend to sink companies with high taxes and debt.
Answer:
Robert Nozick entitlement theory is a theory of justice.
Explanation:
According to Nozick, the important part is how people got what they have. The result of the distribution of goods is not essential.The three basic principles of Nozick 's theory are:-
1. A 'principle of justice' in 'acquisition':- According to this, this is justification of how people own the common property.
2. A 'principle of justice' in 'transfer':- In this principle it is explained how one can acquire assets from another including gifts .
3. A 'principle of rectification' of 'injustice':- This principle explains that if there are any assets that are acquired unfairly, how can victim request for justice, how can it be rectified.
These principles are closely aligned with 'libertarian theory'.
