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The five types of market
Pink = Unethical but State makes legal
White = State makes legal but taxed
Grey = Might not be prosecuted and potentially untaxed
Black = State makes illegal
Red = Unethical and violent and illegal
Screenshot from
An informal economy (informal sector or grey economy)[1][2] is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as troublesome and unmanageable.
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