Saturday, April 20, 2013



01. Arbitrate is the practice of switching short term funds from one investment to another in order to obtain the best returns. Also the act of buying all the lower price and reselling at the higher price
02. Arbitration is referring a dispute to a third, unbiased party for settlement.
03. Bench marking is a management methodology based on the principle that an efficient practice in one industry should be applicable to other industries
04. Base period is the time period used as the base from which to calculate an index number or a growth rate
05. Black economy is that part ofa  country’s economic activity which is next recorded in the national income accounts; although it does involve the production of goods and services
06. Black market is a secret sale of goods or currency violating govrnment rules related to pricing, quota, rationing, property, welfare etc.
07. Black nationalism is a movement advocating the establishment of a separate black nation with the United States
08. Botttom line is the most important tact in a situation
09. Brain storming is the technique used for idea generation in which a team of persons put forward new ideas freely and spontaneously
10. Brainwashing is the technique of changing a person’s ideas, beliefs and attitudes by force, ranging from physical torture to psychological pressure
11. Branch loyalty is the repeated purchase of a particular branch of a product by the combination of quality and price
12. Bullion means gold, silver or other precious metals in bulk; i.e. in the form of ingots or bars rather than in coin
13. Capitation fee is the money arbitrarily collected by professional colleges and self financing educational institutions for admitting students to their courses
14. Collateral is the money or property which is used as a guarantee that someone will repay a loan
15. Communication gap is a situation in the process of communication when no meaningful exchange of ideas or information takes place. This may be due to the physical or mental differences between the parties involved in the communication
16. Credit is granting the use or possession of goods and services without immediate payment.
17. Curtain raiser is a journalistic term to denote background stories and features of a forthcoming event published in order to create enthusiasm
18. Cybernetics is the study of communication and control of machines and animals. Norbert Weiner, an American mathematician introduced the term cybernetics in 1948
19. Dear money mean high rates of interest and a dear money policy carried out by a monetary authority would be one of restricting  the money supply in the interest of reducing inflation
20. Devaluation is the reduction of the official rate at which one currency is exchanged for another
21. Disposable income is the personal income including transfer payment after all direct taxes have been deducted
22. Drug holiday is a medical term denoting the discontinuance of a drug for limited period of time for evaluating the effect or side effect
23. Dry dock is a dock in which a ship can lie out of water for repairing the parts below its waterline
24. Dry farming is the process of growing crops in semi and regions without irrigation and sufficient rainfall
25. Dumping is the sale of a commodity on a foreign market at a price below marginal cost
26. Embezzlement is the offence committed when someone entrusted with another’s money or property illegally takes it for personal use. It is different from robbery
27. Embossing is the process by which a raised design is stamped or pressed on the surface of materials like metal, leather, wood, paper etc.
28. E publishing is the production and distribution of different media products in digital format
29. Floor crossing is changing one’s allegiance from one party to another especially in legislatures. The expression originated in the context that in most of the legislatures the ruling party and opposition sit facing each other in the floor of the house
30. Flow chart is a diagram which shows the sequence of steps to be followed for solving a particular problem, usually in algorithm
31. Free lunch is something that costs nothing. The expression comes from the old practice of offering free lunches to those who brought drinks. This is often used in negative constructions
32. Fringe benefits mean the rewards for employment over and above the wages paid e.g. goods at a discount, subsidized meals, arrangements etc.
33. Giffen goods are goods which do not obey the law of demand viz. that less is bought as price rises
34. Global warming is an increase over a period of the average temperature of earth’s atmosphere and oceans. The greenhouse effect is attributed as the main reason for the phenomenon. Average global temperature since the late 19th century is taken (plus or minus) for assessing the effect of global warming
35. Gold ETF is gold exchange traded funds and they are the instruments that trade like shares and are backed by physical gold holdings
36. Mail merge is the process of linking a document or letter with a required data file in such a way that different people will get letters with appropriate details
37. Moratorium is the temporarily sopping of an activity or postponement or the time for payment of debts or financial obligations
38. Netizen is a new term coined by linking the terms – internet and citizen. In the modern age of information technology, any citizen who regularly uses the internet can be called as a netizen.
39. Outsourcing is the system of contracting information technology related jobs like translation, transcription, digitization, data conversion, software development , call centre services etc. to outside agencies. The work may be done by the agencies within the country or outside
40. Per capita income is the total income of a group divided by the number of people in the group
41. Personal property is the temporary or movable property as distinguished from real property
42. Plagiarism is the act of illegally copying and using another person’s writings, ideas, inventories etc., and presenting it as one’s own.
43. Portfolio is the collection of securities held by an investor
44. Recession is a downturn in the business cycle characterized by two successive quarters of negative rates of growth in the real gross national product
45. Soft currency is a currency whose exchange rate is tending to fall because of persistent balance of payment deficits of because of the building up of speculative selling of the currency in expectation of a change in its exchange rate
46. Soft loan is a loan bearing either no rate of interest or an interest rate which is below the true cost of the capital lent.
47. Straight time is the number of working hours fixed as a standard for given work period
48. Tax avoidance is arranging one’s financial affairs within the law so as to minimize taxation liabilities
49. Tax evasion is failing to meet actual tax liabilities
50. Truck system is a system in which wages are paid in goods or kind rather than money
51. Watermark is a design applied to paper when it is made. It can be seen by holding the paper up to the light. Currency notes and postage stamps carry a watermark to prevent forgery

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