The term informal economy is used to describe_____________?
Correct answer: A. transactions outside the sphere of regular employment
- A. transactions outside the sphere of regular employment
- B. the activities of small businesses
- C. work where no money changes hands
- D. organizations with less rigid rules and procedures
Explanation
The informal economy includes paid or unpaid economic activities outside the regulated and formally recorded employment sector, such as unregistered work and street trading. It is broader than small businesses, since not every small business operates informally.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
Practise Social Institutions
141 free Social Institutions MCQs from Sociology, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Sociology questions like this
Sociology is on this paper prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for it.
More Social Institutions questions
My husband and my daughters constitute my____________?
Polygyny______________?
Research on the family life course indicates that_____________?
Which accounts of the worth of education stress that it enables individuals to think freely and rationally which makes social progress and innovation possible ?
Which term describes the process whereby religion loses its influence over various spheres of social life ?
Which is the most recently established of the great world religions ?