Compared to the others, which person is employed in the informal economy?
A. Cyrinda, who is a bookkeeper in the local office of a large financial consulting firm
B. Alphonse, who manages a small daycare center employing 10 workers
C. Reggie, who runs a lawncare business on a strictly cash-only basis with a select few clients
D. Melanie, who is working as an intern for 6 months before transitioning to a full-time placement
Answer (1)
Reggie is the individual employed in the informal economy because he runs a cash-only lawncare business, which lacks government regulation and formal contracts. The other individuals are part of the formal economy due to their employment structures. Understanding the informal economy helps us identify work that operates outside of regulatory frameworks. ;
