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Q.

Whats is the exct meaning of Underground economy.

Tags: whats, underground economy, exct
Asked by Mukesh Mehta, 12 Apr '08 02:35 pm
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Answers (2)

1.

The underground economy also known as the black market is a market that consists of all commercial factors on which applicable taxes and/or legal regulations of trade are being avoided. Some of the often terms used to refer to this market is underdog, or Black Economy, shadow economy, as well as parallel economy.
Answered by amit singh, 12 Apr '08 02:35 pm

 
  
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2.

Segment of the economy that consists of barter or cash transactions of a legal and illegal nature. Transactions in the underground economy go unrecorded and undetected by taxing authorities.

http://www.moneyglossary.com/?w=Underground+Economy

Economic activity involved in secret or illegal activity. Taxes are usually not paid on income earned in the underground economy.

http://inflationomics.com/glossary.php?.underground_economy.# underground_economy

unrecorded and untaxed financial dealings

http://dictionary.reference.com/search?q=underground+economy& amp;r=66

Portion of the economy that goes largely undetected by taxing authorities. Transactions usually are Barter or in cash and include both illegal activities and activities that would be legal except for their unrecorded nature.

The underground economy, shadow economy, black economy, or black market consists of all commerce on which applicable taxes are being evaded. The market includes not only legally-prohibited ...more
Answered by DRSiva, 12 Apr '08 04:01 pm

 
  
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