Meaning of “black economy” in the English Dictionary


"black economy" in English

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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

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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)