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LSDefine

Simple English definitions for legal terms

shadow economy

Read a random definition: interstate extradition

A quick definition of shadow economy:

Term: Shadow Economy

Definition: 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, and drug dealing, as well as bartering and unreported incomes. It is also known as the black economy, black market, or underground economy.

A more thorough explanation:

Definition: The shadow economy refers to all the economic activities that are not registered or reported to the government, but still contribute to a country's gross national product. This includes legal and illegal activities such as gambling, prostitution, drug dealing, barter transactions, and unreported incomes.

Examples: The shadow economy can include a variety of activities, such as:

  • A person who works a job and gets paid under the table, without paying taxes or reporting their income to the government.
  • A street vendor who sells goods without a permit or license.
  • A drug dealer who sells illegal substances for cash.
  • A prostitute who offers services for money.
  • A gambler who participates in illegal betting or gambling activities.

These examples illustrate how the shadow economy can involve both legal and illegal activities that are not reported to the government. While some of these activities may be harmless or even beneficial to society, others can have negative consequences such as contributing to crime or tax evasion.

shack | shadow jury

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jackfrost11770
13:56
I don't think so
jackfrost11770
13:56
I got a UR when I emailed themc
jackfrost11770
13:56
But it would be nice to have something at least
lilypadfrog
13:56
like whether the date changes. is that actually indicative of something. I feel like people have said they got in without a second date change
jackfrost11770
13:56
I just cannot believe I thought I would have more or less of an idea where I'd be going to law school by end of January
13:56
went complete at penn a month ago with still no UR
jackfrost11770
13:56
How was that too ambitious of a thought
jackfrost11770
13:57
March at the very least atp
13:57
@llama: thank you!!! 44 apps thats crazy dude
Trismegistus
13:57
jack me too buddy
lilypadfrog
13:57
@info-man: I applied like a week before you and just went UR a couple days ago you’ll get there in a minute
13:57
I'm actually never gonna hear from BU
13:57
definitely not ambitious at all. this cycle's turning out to be as slow as the last one probably due to high app volume
13:57
@lilypadfrog: okay cool good to know
13:58
i really think they should push back seat deposits to june
13:58
its unfair
jackfrost11770
13:58
Recent boo I applied to BU in Oct
13:59
I've been complete since mid Sept:(
13:59
If I knew I would still be waiting in January I probably wouldn't have applied so early
jackfrost11770
14:00
Me neither
jackfrost11770
14:00
Someone applied to nyu in December and got today
jackfrost11770
14:00
I mgoikg to lose my fucking mind
14:01
re seat deposit: does any1 know if u can request to delay 1st seat deposit? some school are really early it seems
[] starfishies
14:02
if they delayed decisions we should be able to delay deposits... but we do not live a perfect world so i doubt it
lilypadfrog
14:03
yeah you can request an extension. usually it’s like a week though
14:03
i need tips for not falling asleep at work
drugs
14:03
can we talk about something interesting like i dont know drugs sex death
ReminiscentZestyFish
14:04
Everyone admitted to penn looks like above medians
14:04
time to harass glove on linkedin
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