The term informal economy is used to describe only socially destructive activities such as smuggling.

Name: The term informal economy is used to describe only socially destructive activities such as smuggling.
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Question

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The term informal economy encompasses a wide range of economic activities that are not regulated by the government and do not fall within the formal sector, including both legal activities like small-scale vending and services, as well as illegal activities like smuggling.

The Term Informal Economy Is Used to Describe Only Socially