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black economy |
Also found in: Dictionary/thesaurus, Wikipedia | 0.06 sec. |
black economyHidden economy of a country, which includes undeclared earnings from a second job (‘moonlighting’), benefitting from undervalued goods and services (such as company ‘perks’) designed for tax evasion purposes, and many kinds of unreported cash transactions. |
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Most of the black economy is in the hands of the top three per cent of the population. But the black economy, of which they're a part, has grown in leaps and bounds over the last few decades. And these businesses, which often serve as a gauge to the state of the black economy, need to be more nimble as expansion capital becomes tighter and the competition grows fiercer. |
black economy
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