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LSDefine

Simple English definitions for legal terms

black economy

Read a random definition: foldage

A quick definition of black economy:

Black economy: The black economy, also known as the shadow economy, refers to all the economic activities that are not registered or reported to the government. These activities can include legal and illegal production of goods and services, such as gambling, prostitution, drug dealing, and unreported incomes. The black economy is also called the underground economy or black market.

A more thorough explanation:

Definition: The black economy, also known as the shadow economy, refers to the unregistered economic activities that contribute to a country's gross national product. This includes legal and illegal production of goods and services, such as gambling, prostitution, drug-dealing, barter transactions, and unreported incomes.

Examples: Some examples of the black economy include:

  • A drug dealer selling illegal drugs for cash
  • A prostitute receiving payment for services without reporting it to the government
  • A person selling goods or services for cash without paying taxes

These examples illustrate how the black economy operates outside of the legal system and often involves illegal activities or tax evasion. These activities are not included in official economic statistics, but they still contribute to the overall economy.

black codes | Black Hand

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General chat about the legal profession.
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[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
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