Informal market

An informal market is an unofficial sector of economic activity that operates outside government regulation, taxation, and formal institutions. It includes small-scale businesses, street vendors, and unregistered workers who buy and sell goods or services without formal licenses or adherence to legal standards. While these activities often provide essential goods and employment, they are not officially recognized, which can affect consumer safety, workers' rights, and government revenue. The informal market plays a significant role in many economies by offering flexible employment and accessible goods, especially in developing regions.