informality

Question 1

what is the first distinction of the informal sector

Answer 1

property markets

Question 2

what is the basic idea of informality?

Answer 2

a sector of society composed of economic activity that occurs outside the monitoring and legal purview of the state. they aren’t recognized, taxed or regulated

Question 3

what are the causes of property markets

Answer 3

red tape
taxes
low state capacity
inefficient justice system
government negligence

Question 4

what is red tape

Answer 4

excessive or rigid regulations and bureaucracy that hinder decision-making and slow down processes

Question 5

what is the second distinction

Answer 5

the informal work market

Question 6

what are the informal work market
causes

Answer 6

entry costs
payroll taxes
labor courts

Question 7

what is the third distinction?

Answer 7

informal finances (move around banking system)

Question 8

what are the forms of informal finances

Answer 8

borrowing and savings