GGRC45H3 Lecture Notes - Lecture 4: Living Wage, Informal Sector
Document Summary
Pawn shops informal because it is not done by cash. In some cities, street vendors are considered informal: the quasi-legal or grey economy". Activities that include some mixture of formal and informal elements. Formal may be dependent on informal sector (we don"t necessarily see it: bribery. System of resource allocation, system of training. Hidden economy that is not part of the gdp because women don"t get pension for being house workers. Formal economy relies on this type of household labour: productivity of work depends on how well the work at home is being taken. Regulated by the government but in different ways. These are rendered informal" because the government prohibits them from being a part of the formal economy". Rcmp and the police involved in regulating. What types of drug dealing informal activity be connected to the formal economy: luxury market. People that are involved with organized crime: venues, ex. Restaurants (where drug dealing takes place: prostitution.
