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LSDefine

Simple English definitions for legal terms

shadow economy

Read a random definition: judicial bypass

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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General chat about the legal profession.
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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] 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.
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