black economy

black economy
a hidden sector of the economy where private cash transactions go unreported

no one knows how large the black economy really is

Hypernyms: ↑sector
Part Holonyms: ↑economy, ↑economic system

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black economy noun
Economic activity involving payment in kind or cash not declared for tax purposes
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Main Entry:black

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the ˌblack eˈconomy [black economy] (BrE) (NAmE the ˌunderground eˈconomy) noun singular
business activity or work that is done without the knowledge of the government or other officials so that people avoid paying tax on the money they earn
See also:underground economy

Useful english dictionary. 2012.

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Look at other dictionaries:

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  • black economy — ► NOUN ▪ the part of a country s economic activity which is not recorded or taxed by its government …   English terms dictionary

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  • black economy —    the sum of goods and services provided without tax or official cognizance    Depressingly black for the tax collector, perhaps, but not normally so for those who pay for governmental voracity and profligacy:     All public spirited citizens… …   How not to say what you mean: A dictionary of euphemisms

  • black economy — black e conomy n [singular] business activity that takes place secretly, especially in order to avoid tax →↑black market …   Dictionary of contemporary English

  • black economy — /blæk ɪ kɒnəmi/ noun goods and services which are paid for in cash, and therefore not declared for tax. Also called hidden economy, parallel economy, shadow economy …   Dictionary of banking and finance

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