N

1. Comparative study:- Comparative study means the process of obtaining appropriate conclusions or interpretations by comparing the two or more types of data in the context of time, place, field or any other factors. 2. Comparative study based on time:- When the data of two or more years related population, poverty, unemployment, education etc. are studied, it is called comparative study based on time. 3. Place based comparative study:- When the study of economic matters of two or more matters or countries is made, it is called place based comparative study. 4. Rational analysis:- Rational analysis means the analysis of an event with the help of statistical or mathematical methods and the process of drawing conclusions intelligently. 5. Economic event:- Any event that is connected with economic phenomenon is called economic event. 6. Diagram:- When statistical data are presented through a figure, it is called a diagram. 7. BAR diagram:- When statistical data are presented on OY axis in form of columns, it is called bar diagram. 8. Cluster bar diagram:- When more than one columns are drawn side by side, it is called cluster bar diagram. 9. Statistical data:- When certain economic phenomena are presented through figures, it is called statistical data. 10. Time series graph:- The figure which is drawn keeping in mind different periods of time is called time series graph.

11. Pie diagram:- When a circle is divided into parts to indicate statistical data, it is called pie diagram. 12. Growth:- Gradual and regular increase in production in economy in the long run is called growth. 13. Development:- Growth based on innovations in an economy is called development. 14. Sustainable Development:- Sustainable Development means to satisfy the requirements of the present generations without harming the capacity to satisfy the needs of future generations. 15. Human Development Index:- Human Development Index means the index prepared by giving equal importance to health, knowledge and standard of living. 16. Physical Quality Of Life Index:- It is an index prepared to give equal importance to education, infant mortality rate and life expectancy rate. 17. Dual Economy:- The economy in which both traditional tools and methods co-exist with modern equipments is called dual economy. 18. National Income:- In any country, during one year, net market value of the production of physical as well as material goods and immaterial services with the help of capital and labour and from the natural resources of the country is called national income. 19. Per capita income:- Per capita income of a country can be obtained by dividing the total national income of a country with the total population of a country. 20. Infant Mortality Rate:- During one year, the rate of death of children born alive for every thousand children. 21. Expectation of life:- The expectation regarding the period of his life of a child at the time of his/her birth is called expectation of life. 22. Economic growth:- Gradual and regular increase of production in an economy in the long run is called economic growth. Here there is quantitative change in the production. The increase in income of developed countries is known as economic growth. The rate of economic growth depends on development process of the long period. 23. Economic Development:- Economic growth based on innovation in an economy is called economic development. There is qualitative change in production in it along with growth. Growth of developing countries like India can be called economic development. 24. Environment:- Natural as well as manmade surrounding around human world is called environment.

25. Primary sector of economy:- Primary sector of economy means agriculture sector which includes farming, animal husbandry, forestry, fisheries, poultry, etc. 26. Secondary sector of economy:- Secondary sector of economy means industrial sector in which large scale industries, small scale industries, building and construction, electricity, gas, water supply etc. are included.

27.Third sector of economy:- Third sector of economy means service sector in which transport, communication, trade & commerce, banking, insurance, education, health & government administrative services are included. It is also called Tertiary sector. 28. Quantitative change in industrial sector:- If there is increase in industrial production, it can be called quantitative change in industrial sector. 29. Qualitative change in industrial sector:- If there are changes in the structure of industries, they can be called qualitative change in industrial sector. 30. Occupational structure of economy:- Occupational structure of economy means the structure constructed by activities of agriculture, industrial and service sectors. 31. Green Revolution:- In the agriculture sector, the tremendous growth in the production which took place as the result of new production methods or new technology achieved large increase in production within such a short period is called Green Revolution. 32. Structure:- Structure is the construction or the framework made by several definite divisions or sections. 33. Inland water transport:- The water transport between different states or cities of a country is called inland water transport. It operates not on the sea coast but in big rivers. 34. Coastal water transport:- The water transport between different ports on sea-coast of a country is called coastal transport.It operates not in the country but on the sea-coast. 35. Social Infrastructure:- The cluster of services facilities and arrangement of education and housing is called social infrastructure. 36. Economic Infrastructure:- The cluster of services, facilities and systems of transport, communication, energy, irrigation, banking, insurance etc. can be called economic infrastructure. 37. Internet:- International network of communication through satellites is called internet. 38. Literacy:- The ability to read and write is called literacy.

39. Transportation:- Commuting of passengers or conveyance of goods through different types of vehicles is called transportation. 40. Communication:- The means of sending and receiving messages through different means of communication like telephone, post and internet also. 41. Birth rate:- The number of children born during a year in the population of one thousand is called birth rate. The birth rate is affected by proportion of education , level of income, age-groups of population, social and religious notions and the spread of family planning. 42. Death rate:- The number of people dying in a year in the population of every one thousand people is called death rate. It is affected by medical researches, famine and other natural disasters and controls over them, improved life-style, health services etc. 43. Family planning:- Family planning means planned maternity and paternity. It also means keeping the family controlled, limited and reasonable gap of time between two children. 44. Infant mortality rate:- Infant mortality rate means the number of death of infants in a year in each thousand infants born alive. 45. Demographic transition:- Demographic transition means the changes that take place in rate of population of a country. 46. Population explosion:- Population explosion means excessive, rapid rise in population. It creates many economic problems in a country. 47. Non-productive burden:- The part of population that does not participate in the process of production in a coutry. 48. Gauchar (Pasture reserved for cows):- A grassland on pasture reserved for grazing cows in Indian villages is called Gauchar (Gau meaning cow and char meaning grazing field) 49.Productive age-group:- In productive age-group, the people of age between 15 to 60 years are included. The people belonging to this age-group contribute in the process of production. 50. Poverty:- One whose income is less than two US dollars a day can be considered poor. 51. Relative poverty:- Relative poverty means the condition in which one group of society gets less than the other group.

52. Absolute poverty:- Absolute poverty means such condition in which people are not able to satisfy primary needs like food, clothes, vegetables, etc. 53. Mixed economy:- The economy that comes into existence by the mixture of capitalist market system and communist economic system is called mixed economy. 54. Wage-employment:- The employment in which unemployed become employed and receive wages. 55. Self-employment:- Self-employment means employment created by the efforts of the person himself/herself. 56. Poverty line:- Poverty line is the minimum standard of income for minimum consumption cost to sustain human existence. 57. Absolute poverty:- Absolute poor is one who is unable to spend the minimum amount to sustain human existence. 58. Basic requirements:- Basic requirements are those which must be inevitably satisfied. 59. Social security:- Social security means the arrangement to improve the weaker economic conditions of the people and the standard of their living. 60. Public distribution scheme:- Public distribution scheme is an arrangement by the Government to provide the poor people living below the poverty liner with food grains, sugar, kerosene etc. at cheaper rates through Fair Price Shops. 61. Buffer stock:- The reserved stock of food-grains is called buffer-stock. It is a means of maintaining price stability of food grains. 62.Qualitative concept:- Qualitative concept is that which has no physical or concrete form. It is abstract. 63. Disparity in income:- When a group of people has less income than the other group on comparison, it is called disparity in income. 64. Unemployment:- Unemployment is a collective condition in which a person has to be without work or employment compulsorily. 65. Cyclical unemployment:- In developed economy which is based on market system, boom and depression are caused and in depression production and employment decrease resulting in cyclical unemployment. 66. Frictional unemployment:- When old technology is replaced by new technology, the demand of the old goods decreases and as a result unemployment which is created is called frictional unemployment.

67. Industrial unemployment:- Unemployment that takes place due to change in industrial sector is called industrial unemployment. It is found in urban area. 68. Educated unemployment:- When a person has studied upto high school but is not able to get employment, it is called educated unemployment. 69. Disguised unemployment:- When more people than required are occupied in a work. Some people are disguised unemployed and this type of unemployment is called disguised unemployment. 70. Seasonal unemployment:- In agriculture sector, people get work during certain season only and they remain jobless and unemployed during the rest of time. It is called seasonal unemployment. It is connected with the changes of seasons. 71. Unemployment:- A person who is qualified and wishes to work at the prevalent rates of wages and he does not get work inspite of his efforts to seek one can be called unemployed. 72. Unemployment on daily status:- If a person does not get work even for an hour during a week is called daily status unemployed. 73. Unemployment of the youth:- In urban areas, the young people between 18 to 25 get employment after waiting for a long time. These young people try to get better education with a hope to get better jobs. As a result, the educated people remain unemployed. 74. The supply of labour:- The supply of labour means the supply of such manual workers who can produce something and are in search of employment. 75. Voluntary unemployment:- When a person gets work but is not willing to work, it is called voluntary unemployment. This is not unemployment in reality. 76. Involuntary unemployment:- Involuntary or compulsory unemployment is a condition in which a person has to remain unemployed compulsorily. This is an unemployment in real sense. 77. Open unemployment:- Open unemployment is exactly the opposite of disguised unemployment. We can see the open unemployment with our naked eyes. The industrial unemployment and educated unemployment in urban areas can be called open unemployment. 78.Usual status unemployment:- If a person tries to find work but if get s work for less than 183 days in a year, he is called long term unemployed or usual status unemployed.

79. Weekly status unemployment:- Preceding the day on which the survey is made, if a person does not get work even for a single day in a week, he is called weekly status unemployed. 80. Daily status unemployment:- The week preceding the day of survey is considered here. If a person does not get work even for an hour, he is said to be suffering from daily status unemployment. 81.Developed countries:- The countries in which real per capita income is very high, savings and capital-creation rate are also very high and as a result production increases remarkably. The USA, Japan etc. are developed countries. 82. Developing countries:- The countries which have potential for development and there is gradual economic development, such countries are called developing countries. 83. Multi Cropping:- The planning to get more than one crops in agriculture is called multi cropping. 84. Employment Exchange Centers:- The centers which make systematic efforts to facilitate the exchange of employment between them who seek jobs and these who offer jobs are called employment exchange centers. 85. Pollution:- Certain amount of rubbish that arises due to economic activities is absorbed by environment but the residual rubbish that remains unabsorbed by environment is called pollution. 86. Environment policy:- The policy regarding environment that minimizes the desirable and real level of environment by changing the methods of production and consumption. 87. Emission tax:- Emission tax is the price to be paid for the disposal of environment waste. 88. Migration:- Migration means a persons stay at a place distant from his own house for a long time. 89. Domestic migration:- Domestic or internal migration means to migrate from one place to other within a country. 90. International migration:- International migration means migration from one country to another. 91. Push migration:- Push migration is that where poor people are pushed from villages to cities involuntarily due to lack of adequate employment opportunities.

92. Money order economy:- Money order economy means the income that people migrated from rural areas to cities send to their families in the villages out of their earnings and this income boosts the economic standard of such villages. 93. Pull migration:- Well-to-do people from the villages migrate to bigger cities attracted by urban life-style and various comforts available there. This is called pull migration. 94. Female-male ratio in population:- 1 Female ratio against every one thousand male ratio. 95. Source:- Source means the place of origin or birth. 96. Sink:- Certain amount of rubbish or waste that comes out of economic activities is sucked in by the environment. 97. Externality:- The cost of pollution is borne by the entire society. In economics this expenditure is known as externality. 98. Price-rationing:- A certain price to be paid for the disposal of waste in environment called price-rationing. 99. Pollution permit:- Licenses given as permits to create pollution to certain extent is called pollution permit. 100. Quantity-rationing:- The process of determining and distributing the quantity if saleable permits in the context of fixed standards of pollution is called quantity-rationing. 101. Eco-friendly technology:- During the process of the development, in course of production and consumption , such a technology has been invested that makes minimum harm to environment. This kind of technology is called Environment-friendly technology or Eco-friendly technology. 102. Urbanisation:- The transfer of population and labourers from rural areas to urban areas is called urbanization.