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Economics Terminology

Active Market :- This is a term used by stock exchange which specifies the particular stock or share which deals in frequent and regular transactions. It helps the buyers to obtain reasonably large amounts at any time. Administered Price :- The administrative body e.g., the government a marketing board or a trading group determines this price. The competitive market force are not entitled to determine this price. The government fixes a price in accordance with demand supply portion in the market. Ad-valorem Tax :- Ad-valorem tax is a kind of indirect tax in which goods are taxed by their values. In the case of ad-volorem tax, the tax amount is calculated as the proportion of the price of the goods. Value added Tax (VAT) is an ad-volorem Tax. Advanced Countries :- Advanced countries are countries which are industrially advanced, having high national and per capita income and ensure high rate of capital formation. These countries possess highly developed infrastr

Kaushik Basu is now Chief Economist of World Bank

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The World Bank on 5 September, 2012 named as its chief economist and senior vice President, placing a candidate from an emerging market country in a key position at the global development lender. Basu, who was most recently chief economic adviser to the government of India, is the World Bank's second chief economist from a developing country. He replaces Justin Lin, a citizen of China, whose term expired on June 1, 2012. Basu, who holds a Ph.D. from the London School of Economics, is on leave from his position as a professor of economics and international studies at Cornell University in New York. He previously founded the Centre for Development Economics at the Delhi School of Economics. Emerging market countries have long pushed for more clout at the poverty-fighting World Bank and its sister institution, the International Monetary Fund. Starting from October, Basu will serve under new World Bank President Jim Yong Kim, a Korean-American and who took the helm of the World

Basic Computer Terminology - A to Z

Access Time The time taken to retrieve date from a storage device or to obtain data from peripheral unit Alphanumeric Pertaining to a character set that contains letters, digits and usually other characters such as punctuation marks Background Job A Job in an operation system which has a lower priority than jobs being run simultaneously which involve any online activity Binary Digit The digit 0 to 1 Binary Number System Number system with a base of 2 Bit Smallest possible unit of information (Binary digit) Bug Any mistake or malfunction of computer (programme or system Bus A line or circuit used for transmitting data or power to a large number of devices Central Processing Unit The computer unit that performs the execution of instructions Character Set A set of unique symbols arranged in a fixed order used by a device or language to denote informa

Some Commonly Used Terms in Computers

Programme: It is a set of instructions given to the computer in a particular sequence for solving a given problem. In other words, it contains a set of actions to be performed by the computer on the data to produce necessary result. Programming is done in one of the computer languages. Software: It is a collection of programmes written to bring the hardware of a computer system into operation. We cannot do any thing useful with the computer hardware on its own. It has to be driven by certain utility programmes called software which are stored in the computer system. There are two types of software: Application Software: It refers to programmes or sets of programmes that perform a specific processing application, e.g., payroll and inventory control. System Software: It consists of sets of programmes that act as an interface between the user and hardware, e.g., operating system like Windows, Mac OS, and UNIX etc. Hardware: It is the term given to the machinery itself and to t