Scribd Logo
Upload

Welcome to Scribd!

  • Class 9 Geo Lesson 5

    Uploaded by

    8C-Ahmed Musawwir - Dj067
    15 views15 pages
    The document provides information about formal and informal economies in Bangladesh. It states that 90% of Bangladesh's labor force works in the informal economy, which includes wage laborers, self-employed individuals, unpaid family workers, and piece-rate workers. The informal sector provides opportunities for employment but lacks regulations, worker protections, and tax revenue collection. Both informal and formal sectors have advantages and disadvantages, such as job security and benefits in the formal sector versus lower barriers to entry in the informal sector. The document encourages shifting some informal workers and businesses to the formal sector to promote decent work, full employment, and increased tax collection.

    Original Description:

    Bdstudies

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document provides information about formal and informal economies in Bangladesh. It states that 90% of Bangladesh's labor force works in the informal economy, which includes wage laborers, self-employed individuals, unpaid family workers, and piece-rate workers. The informal sector provides opportunities for employment but lacks regulations, worker protections, and tax revenue collection. Both informal and formal sectors have advantages and disadvantages, such as job security and benefits in the formal sector versus lower barriers to entry in the informal sector. The document encourages shifting some informal workers and businesses to the formal sector to promote decent work, full employment, and increased tax collection.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    15 views15 pages

    Class 9 Geo Lesson 5

    Uploaded by

    8C-Ahmed Musawwir - Dj067
    The document provides information about formal and informal economies in Bangladesh. It states that 90% of Bangladesh's labor force works in the informal economy, which includes wage laborers, self-employed individuals, unpaid family workers, and piece-rate workers. The informal sector provides opportunities for employment but lacks regulations, worker protections, and tax revenue collection. Both informal and formal sectors have advantages and disadvantages, such as job security and benefits in the formal sector versus lower barriers to entry in the informal sector. The document encourages shifting some informal workers and businesses to the formal sector to promote decent work, full employment, and increased tax collection.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 15

    CLASS 9: GEOGRAPHY

    LESSON 5
    TOPIC 8 A

    SLO: explore the advantages of formal


    and informal economy
    • Page no. 194- 196 (old version)

    ◦Use your full name, class and section


    at all time
    ◦Log into Google Classroom and keep
    the tab open
    ◦Mute all devices near you
    ◦Leave any queries in the chat box
    SIR JOHN WILSON SCHOOL
    Service
    Sector
    • The service sector, also known as the
    tertiary sector, is the third tier in the
    three sector economy. Instead of the
    product production,
    this sector produces services maintenance
    and repairs, training, or consulting.
    • Examples of service sector jobs include
    housekeeping, tours, nursing, and teaching

    SIR JOHN WILSON SCHOOL


    Informal
    Service Sector
    • In Bangladesh, 90% of the labour
    force is employed in
    the informal economy according
    to the 2010 Labour Force Survey.
    • Those working in
    the informal economy include
    wage labourers, self-employed
    persons, unpaid family labour,
    piece-rate workers, and other
    hired labour

    SIR JOHN WILSON SCHOOL


    Who do so many
    people work in the
    informal sector?

    • The poor cannot afford to be


    unemployed
    • Requires almost no capital to
    enter this sector
    • This sector is unregulated
    • Absorbs surplus labor

    SIR JOHN WILSON SCHOOL


    • Disadvantages
    Informal sector • The government can’t measure
    the actual state of the economy
    to help make policy.
    • Advantages
    • The government isn’t collecting
    • It affords opportunity to those
    the taxes that it should.
    who might not be able to find
    traditional jobs or livelihoods in • Consumers are not protected
    the formal sector. from people selling fake/unsafe
    goods.
    • No government interference, no
    taxes or subsidies to be paid to • Workers injured on the
    the government. job don’t have recourse to
    required insurance.
    • Ensures that
    the formal economy operates • Workers don’t accumulate
    with sufficient market efficiency. government pension benefits.
    • Informal businesses must stay
    small to avoid attracting
    attention. Big companies are
    more efficient.
    SIR JOHN WILSON SCHOOL
    Formal sector
    (1) has an organised system of employment with clear written
    rules of recruitment, agreement and job responsibilities.
    (2) has a standardised relationship between the employer and
    the employee and it is maintained through a formal contract.
    (3) the employee is expected to work for fixed hours and receives
    fixed salary in addition to incentives and perks.

    SIR JOHN WILSON SCHOOL


    Formal sector
    • Advantages • Disadvantages
    • Stable income • Requires experience or
    • Job security qualifications
    • Benefits like health • Harder to get a job
    insurance, housing etc. • Income are taxed
    • Organised working hours • Limited flexibility
    and environment

    SIR JOHN WILSON SCHOOL


    Overview

    SIR JOHN WILSON SCHOOL


    EXAMPLES:

    SIR JOHN WILSON SCHOOL


    Why is it important to shift from
    informal to formal?

    The objective is indeed the growth of the formal economy,


    decent work, fuller employment and increased tax revenue
    for the government. The efforts should therefore be not only
    shifting informal workers into formal jobs, but also
    registering and taxing formalised enterprises, providing
    informal workers with benefits such as access to legal and
    social protection.

    SIR JOHN WILSON SCHOOL


    Read the material posted in GC titled as "
    Read Informal sector" which is taken from a
    newspaper.

    GC activity Answer the questions posted once you


    Answer are done reading.
    15 minutes
    Submit
    Submit and return to zoom meeting
    and window
    return

    SIR JOHN WILSON SCHOOL


    Answers
    • What policies can the government apply to deal with the informal
    sector?
    • Facilitate formalisation, reduce taxes and state regulation.

    • Why is eliminating the informal economy a challenge for Bangladesh?


    • More than 85% are employed in this sector, jobs are not available for
    all of them in the formal sector, not skilled or educated.

    • There are two policy measures to promote formalisation; hard and


    soft approach. Which one do you think will be a better option and
    why?
    • Your own answer with justification.

    SIR JOHN WILSON SCHOOL


    Informal sector of Bangladesh

    SIR JOHN WILSON SCHOOL


    END OF
    LESSON 5
    Thank you

    SIR JOHN WILSON SCHOOL

    You might also like