The Existence of the Informal Sector in Many Less Developed

question 78

True/False

The existence of the informal sector in many less developed countries is evidence of the irrational behavior of less educated people in poor countries. Is this true or false? Explain your answer.

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Definitions:

Collusion

A secret or illegal cooperation or conspiracy, especially between parties supposed to compete against each other.

Counterfeiting

The illegal imitation of products, currency, or documents with the intent to deceive or defraud.

Trademarked

A symbol, word, or phrase legally registered or established by use as representing a company or product.

Copyrighted

Describes material, such as text, music, or artwork, that is legally protected from unauthorized use without permission from the owner.