Share this entry

Share this page

underground economy

Line breaks: under|ground econ|omy

Definition of underground economy in English:


North American term for black economy.
Example sentences
  • Thus, it may be that the most widely accepted estimates of the size of the underground economy in advanced market capitalist economies rely upon estimates of the use of currency compared to GDP.
  • A black market is also called an underground economy or unregulated economy.
  • He defines ‘legal GDP’ as officially reported GDP minus the underground economy's GOP.

Definition of underground economy in:

Share this entry

Share this page


What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day libretto
Pronunciation: lɪˈbrɛtəʊ
the text of an opera…