black economy

(noun) “[A] hidden sector of the economy where private cash transactions go unreported” (Princeton University 2010).

Audio Pronunciation: (black e·con·o·my)

Download Audio Pronunciation: black economy.mp3

Usage Notes:

  • Plural: black economies
  • Also called:
    • black market
    • informal market
    • shadow economy
    • underground economy

Related Terms: 

 


References

Princeton University. 2010. “About WordNet.” WordNet. (http://wordnet.princeton.edu/wordnet).

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