2. (Reference to selected terms related to economics and Indian
economy)
Basic Economical
Terminologies.
3. The labour force of a country is known as the
activity rate or participation rate. It is in percent and
always a proportion of the total population of the
country –the economically active population .This
rate varies from one country to another depending
upon several factors such as school leaving age,
retirement age ,popularity of higher education,
social customs , opportunities ,etc.
1. Activity Rate.
4. A person who works on another persons land for
wages in money or kind or share is regarded as
an agricultural labourer. He or she has no risk in
the cultivation, but merely works on another's
persons land for wages. An agricultural labourer
has no right of lease or contract land on which
he/she works.
2. Agricultural Labourer.
5. An ACB(Alpine Convertible Bond) is a Foreign
Currency Convertible Bond (FCCB) issued by an
Indian company exclusively to the Swiss investors.
3. Alpine Convertible Bond
6. The idea of self-sufficiency and ‘no’ international
trade by a country. None of the countries of the
world has been able to produce all the goods and
service required by its population at competitive
prices, however, some tried to live it up at the
cost of inefficiency and comparative poverty.
4. Autarky
7. When the final payment of a debt is more than
the previous payments, it is balloon payment.
5. Balloon Payment
