The informal sector includes economic activities that are not regulated or taxed and often arise out of necessity. It can be difficult to define and varies greatly, but tends to have a lack of taxation in common. The extent of the sector is difficult to assess and can result in economic damage. An informal sector […]
Informal probate allows for the liquidation of a deceased person’s estate without court involvement, but laws vary by jurisdiction. If all heirs agree, an informal succession is permitted, but disputes may require a formal succession. The executor must seek approval and comply with applicable laws. It is less expensive than a formal probate but still […]
Informal dispute resolution is a process where conflicting parties meet with a third party to reach a resolution without legal proceedings. It often costs less and is faster than a court case. Mediation is a common form, where the mediator helps parties reach a win-win solution. Negotiations can also lead to a resolution. Written agreements […]
The informal economy operates outside of regulated economies and is made up of non-taxable businesses, migrant workers, and extremely small businesses. Illegal immigrants and those with small jobs may find work in the informal economy, which is not accounted for in GDP calculations. An informal economy can be defined as an economy that operates outside […]
Informal fallacies are errors in arguments resulting from the content rather than logic. They can be categorized as relevance, presumption or ambiguity errors. Examples include Ad Hominem, Ad Verecundiam and Ad Populum fallacies. These can be subtle and used to influence opinion when facts and logic do not support the argument. An informal fallacy is […]
The informal sector includes economic activities that do not fit traditional sectors and are often developed out of necessity. They are not regulated or taxed, and can involve illegal activities. Lack of opportunity often drives informal sectors, and they tend to lack taxation. It is difficult to assess their extent due to little documentation. An […]
