black economy

Related topics: Employment

ˌblack eˈconomy noun [singular]

BEbusiness activity that takes place secretly, especially in order to avoid tax 地下经济活动，黑色经济〔尤指为逃税而暗中进行的商业活动〕 → black market

Examples from the Corpus

black economy• The existence of a black economy is, of course, not confined to the United Kingdom.• It leads to the stimulation of a privately run black economy as its crucial lubricant. 5.• Boosts the black economy, I suppose.• New careers in alternative economies, in the black economy and in voluntary work will also be studied.• If taxes rise simultaneously there is the prospect of a major disincentive effect on output or of growth in the black economy.• Most women are forced through economic necessity to work in part-time low-paid jobs with quite a large number in the black economy.• Publicly suppressed since the 1920s, these qualities have only survived through the black economy, or through private family oral traditions.• The black economy refers to those unrecorded economic transactions conducted on a cash basis with a view to illegal evasion of tax.

From Longman Business Dictionary

black economyˌblack eˈconomy [countableC]ECONOMICSCOMMERCE

business activities that take place unofficially, especially in order to avoid paying tax

It is impossible to quantify exactly the extent of the black economy.

Chinese

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