Definition of Underground Economy
Examples of Underground Economy
- black markets
- garage sales
- prostitution rings
- undocumented laborers
- unlicensed contractors
Underground Economy Pronunciation
Syllabification: un·der·ground e·con·o·my
- American English – /UHn-duhr-ground i-kAHn-uh-mee/
- British English – /UHn-duh-ground i-kOn-uh-mee/
International Phonetic Alphabet
- American English – /ˈʌndərˌgraʊnd ɪˈkɑnəmi/
- British English – /ˈʌndəgraʊnd i(ː)ˈkɒnəmi/
- Plural: underground economies
- Underground economies are informal and hidden, they can also be black markets.
- Underground economies operate outside of the State, thus without regulations to protect people from harm and exploitation.
- Economic Sociology Resources – Books, Journals, and Helpful Links
- Word origin of “underground” and “economy” – Online Etymology Dictionary: etymonline.com
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ASA – American Sociological Association (5th edition)
Bell, Kenton, ed. 2013. “underground economy.” In Open Education Sociology Dictionary. Retrieved October 22, 2021 (https://sociologydictionary.org/underground-economy/).
APA – American Psychological Association (6th edition)
underground economy. (2013). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from https://sociologydictionary.org/underground-economy/
Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)
Bell, Kenton, ed. 2013. “underground economy.” In Open Education Sociology Dictionary. Accessed October 22, 2021. https://sociologydictionary.org/underground-economy/.
MLA – Modern Language Association (7th edition)
“underground economy.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2013. Web. 22 Oct. 2021. <https://sociologydictionary.org/underground-economy/>.