The study of the economy as a whole.

Relating to large scale or general economic variables concerning the whole economy or polity. As district from Microeconomics analysis of a unit or individual firm.

A document that records the period of time for which a machine is in operation. It may also record the cost of the time and details of production.

The language understood by a computer. This language is made up of binary digits. It comprises information and instruction.

An actual or predetermined rate of overhead absorption which is arrived at by dividing the manufacturing overhead (actual or estimated) to be absorbed by the number of hours for which a machine/machines are in operation or expected to be in operation.

It is a queueing model where the arrivals follow a poisson process, service times are exponentially distributed and there is one server.

Equipment for applying mechanical power, having numerous interrelated parts, for repetitive operations.

It is a queueing model where the arrivals follow a poisson process, service times are exponentially distributed and there is c server.

It is a queueing codel where the customers are served immediately after arrival without any waiting, when the arrivals follow a poisson process and the service time is exponentially distributed.

It is a queueing model when the arrivals follow a poisson process, service time follows an erlang (k) probability distribution and the number of server is one.

M3 plus government borrowings and fiscal deficits.

M2 plus credits created by bank, bank-overdrafts and short term credit by the financial system. It is the composite volume of money supply most commonly used for fiscal management. It includes currency, bank deposits, net bank credit to government and fiscal monitised deficit and RIB inflows.

M1 plus Bills, Hundis and plastic money.

Currency in the hands of general public together with demand deposits of commercial banks.