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Definition of the black economy noun from the Oxford Advanced Learner's Dictionary

the black economy

noun
 
/ðə ˌblæk ɪˈkɒnəmi/
 
/ðə ˌblæk ɪˈkɑːnəmi/
(British English)
(North American English the underground economy)
[singular]
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  1. business activity or work that is done without the knowledge of the government or other officials so that people avoid paying tax on the money they earnTopics Moneyc2

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