Question

What is latin america's "informal sector", and how does it serve as a barometer for its economy? in your discussion please provide examples of activities in this sector, the sector's size, and the advantages of working in it?

Answer 1

The informal sector (also known as informal or "grey" economy) is not taxed or monitored by the government and is made up of people who are self employed. The informal sector can be large or small depending on the country, and is hard to measure. The contributions of the informal sector are not calculated into a country's GDP.