https://padlet.com/nkhalfaoui/lvkspm2j1d97 Make sure your name is on the top of your answer. en-us 2018-04-16 01:53:04 UTC 2025-10-02 04:20:57 UTC hello@padlet.com https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001127 People who work in unofficial and unregistered jobs such as vendors and street cleaners are working in the informal economy. Informal employment benefits those who live in poverty and are unemployed as they are able to earn some income to support their low standard of living while at the same time they don't have to pax tax to the government as their jobs are not officially recognised. However, there is a risk for those who work in the informal economy as they are not benefit from any health insurance or policies. Moreover,  basic rights of children who beg at the street might face risk of exploitation by street gangs which makes informal economy unsafe.  

]]> 2018-04-16 06:11:45 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001127 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001229 formal economy
-government can make money, tax them
-regulated and so it is more safe
-hard for people who want to start up a business
-hard for recent arrivals and immigrants


]]> 2018-04-16 06:12:27 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001229 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001258 Informal Economy
Advantage: 
Large Scale employment opportunities
Some employers are paid well because company owners do not have many tax obligations 

Disadvantage: 
Not controlled or regulated by the government  
Incidence of child labor is widespread in Informal economies 

 
 ]]> 2018-04-16 06:12:40 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001258 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001311 Formal

Advantages:
-Organised system of employment
-standardized relationship between employee and employer

Disadvantages:
-taxes
-may not apply to rural communities]]> 2018-04-16 06:13:07 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001311 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001329 informal 
+ not taxed - all profits gained will be yours
+ no need for a formal education/work experience - anyone can get into the market, so the unemployed/less educated can have a source of income
- no job security - the job could be easily lost for a variety of reasons, cutting off a source of income
- no job benefits - if the employee gets hurt, there isn't healthcare or health insurance for them to fall back on, making it dangerous to work in situations that can easily result in injury]]> 2018-04-16 06:13:16 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001329 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001361 Formal economy - fixed employment -> will get regular wages
- have benefits (healthcare, insurance, tax reduction etc)
Disadvantages
- might be limited by red tap (regulations and paperwork)]]> 2018-04-16 06:13:32 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001361 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001436 Informal economy:
Advantages:
1. Flexibility
2. No taxes
Disadvantages:
1. Low job security
2. Usually low paying, without benefits 

]]> 2018-04-16 06:14:00 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001436 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001441 Informal:

The advantages of the informal economy is that it provides income and employment to all people regardless of education, experience that a formal economy is deemed to be relying on.]]> 2018-04-16 06:14:01 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001441 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001482 formal economy definition
Sector which encompasses all jobs with normal hours and regular wages, and are recognized as income sources on which income taxes must be paid.
Advantages
1. Job security
has a standardised relationship between the employer and the employee is maintained through a formal contract.
2. working hours and environment
mostly work in organised and clean environment. In most of the cases, employees in formal economy are expected to work for fixed hours and receives fixed salaries in addition to incentives and perks.

Disadvantages
1. Pay taxes compared to informal economy
As there are official contracts and recognised by government. The income will be taxed
2. Requires certain skill and experience
Formal economy usually requires qualifications and interviews before employing workers. The difficulty of getting a job in the formal sector is harder than the informal sector. For example, companies might require their applicants being at least graduated from University. Therefore, a portion of applicants will not be considered.]]> 2018-04-16 06:14:18 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001482 17jansenjo1 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001509 advantages Formal:
- high profit
disadvantages formal:
- less marketing required
Advantages informal:
- Large scale employment opportunities.
-Direct interaction of employee to employer. 
Disadvantages Informal:
-As it is not controlled or regulated by govt. Workers of informal economy donot get benefits like access to social security arrangements, payments of minimum wages, improved safety and health arrangements.
-May include child labour]]> 2018-04-16 06:14:28 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001509 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001536 Informal Economy: 
Two disadvantages
-  It is not controlled by the government 
-  Informal and formal businesses in the same industry may compete unequally as there is a difference in costs for labour and taxes 
Two advantages: 
-  Informal economy can be spread rapidly through communication, without following the scalar chain 
- ]]> 2018-04-16 06:14:34 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001536 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001643 The informal economy is an economy which is not monitored or taxed by the government. The activities which take place in this part of the economy do not contribute to a country's GDP or GNP and it expands to include wage employment in unprotected jobs. 

Advantages of the informal economy include large scale employment, although it is in the black market. An example of this would be hawkers on the streets.
Another advantage of this economy is that some employers pay well because company owners do not have many tax obligations.

However, the informal economy has many disadvantages. One of them would be the incidence of child labour is very prevalent, such as children selling postcards, souvenirs, etc in India.
Furthermore, there is lack of security. Since it is not monitored by the government, someone working in the informal economy would not have a minimum wage, health and safety arrangements or social security arrangements.]]> 2018-04-16 06:15:08 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001643 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001851 Advantages :
Formal economy - stable income on a contract and therefore security
Have benefits such as health insurance, housing alowance, insurance..
Informal economy - You do not have to be qualified, work for yourself and not set amount of hours

Disadvantages:
Formal Economy - Usually requires qualifications or experience, and is harder to get into 
Informal ECONOMY - can be illegal and iws irregular in regards to amount earned, some days you may earn a lot and other days nothing therefore leaves you unable to plan financially

]]> 2018-04-16 06:16:30 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252001851 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252002153 Advantages of informal economy :
Formal and informal businesses in the same industry compete on unequal playing fields

Disadvantage of informal economy: 
Not controlled by the government 
No tax collection by government and creates problems in economic policy]]> 2018-04-16 06:18:20 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/252002153 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/430650072 2020-01-13 09:39:28 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/430650072 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/456182325 2020-03-07 08:36:43 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/456182325 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/507255901 2020-04-14 20:19:26 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/507255901 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/547218001 2020-05-03 17:05:17 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/547218001 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/557259755 Areesha
Advantages:

• Meets local demand by supplying low priced industrial goods.
• Provides employment  to a large number of the population 
• Makes use of local raw materials thus no burden on imports 

Disadvantages:

• Low wages are paid to workers
• Generally a poor quality working environment 
• Uncertain and unreliable employment 

]]> 2020-05-07 12:34:15 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/557259755 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/649339147 2020-07-07 16:23:44 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/649339147 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/665405446 Challenges ]]> 2020-07-30 00:03:07 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/665405446 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/701475018 Informal sector]]> 2020-08-27 00:16:20 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/701475018 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/734410299 2020-09-10 10:30:58 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/734410299 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/794545524 2020-10-01 13:33:19 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/794545524 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/814684997 2020-10-08 17:14:01 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/814684997 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/840870854 2020-10-19 13:13:39 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/840870854 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/846445498 1.Follow formal procedures and policies where necessary 
2. Are large or small in size]]> 2020-10-20 19:37:11 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/846445498 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/919416352 2020-11-13 07:09:05 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/919416352 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1037417069 2020-12-22 05:38:09 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1037417069 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1090796267 2021-01-15 11:41:57 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1090796267 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1110388613 dumbass]]> 2021-01-21 14:56:38 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1110388613 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1129234102 amazing points guys good job but why is this public ]]> 2021-01-26 22:15:36 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1129234102 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1132755547 2021-01-27 17:17:21 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1132755547 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1133211305 2021-01-27 18:38:58 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1133211305 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1137176641 hi :) thanks for making this public it was v helpful]]> 2021-01-28 16:21:00 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1137176641 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1187402729 2021-02-10 14:02:55 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1187402729 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1187402768 2021-02-10 14:02:55 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1187402768 michele_chan_li_wen_2022 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1204227696 hey guys this was rly helpful thank you HAHAHA]]> 2021-02-15 16:41:03 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1204227696 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1227030427 guys, what the hell is happening here, why are most people just calling everyone idiots?]]> 2021-02-22 15:35:42 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1227030427 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1250803894 2021-02-28 20:48:01 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1250803894 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1296265956 2021-03-11 04:08:44 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1296265956 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1305819155 2021-03-13 19:04:27 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1305819155 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1318433829 2021-03-17 00:56:54 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1318433829 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1339036035 2021-03-22 16:53:33 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1339036035 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1339053455 2021-03-22 16:56:28 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1339053455 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1339076768 2021-03-22 17:00:23 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1339076768 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1354312373 N]]> 2021-03-25 18:03:37 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1354312373 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1402488087 2021-04-10 12:57:16 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1402488087 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1421532722 2021-04-15 15:16:02 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1421532722 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1496114952 racial slurs]]> 2021-05-06 00:06:06 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1496114952 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1512483746 Informal sector supports in the process of producing high value added goods through its labour]]> 2021-05-11 08:11:05 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1512483746 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1911341984 2021-11-24 21:30:19 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1911341984 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1992058633 hi]]> 2022-01-14 10:14:28 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/1992058633 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/2105762814 2022-03-21 16:50:40 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/2105762814 https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/2105766792 2022-03-21 16:52:39 UTC https://padlet.com/nkhalfaoui/lvkspm2j1d97/wish/2105766792