Question

Explain what the underground economy is. Have you ever held a job that could be considered part of the underground economy? If so, what would that job have been and do you believe that this is a detriment to the overall job market? (in detail)

Answer 1

The underground economy is generally referred to the black economy or illegal economy. It involves all the action which are considered as illegal in the perspective of law. These include the sale of drugs, narcotics, services like hitmen and all the illegal activities.

No, I have never held any such job.

These jobs are detrimental to the job market. For example, a car jack is considered as part of the illegal or black economy. it disrupts the normal functioning of our day to day life and there are other big crimes like selling drugs or human trafficking which result in the whole host of problems for the normal functioning of the economy.