Meaning of “black economy” in the English Dictionary

English

"black economy" in English

See all translations

black economynoun [ C usually singular ]

uk /ˌblæk ɪˈkɒn.ə.mi/ us /ˌblæk ɪˈkɑː.nə.mi/

(Definition of “black economy” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"the black economy" in Business English

See all translations

the black economynoun [ S ]

uk us UK also the shadow economy, parallel economy, US the underground economy ECONOMICS

business activity that is illegal because tax on profits is not paid to the government:

(Definition of “the black economy” from the Cambridge Business English Dictionary © Cambridge University Press)