| Working Capital | Funds required to cover the expenses involved in production such as purchasing of aw materials, making payments etc. |
| Welfare State | A state which is committed in ensuring for all its citizens a minimum standard of living, including housing, education and medical services |
| Wage | A payment for labour or services |
| Value of Money | Purchasing power of money over goods and services |
| Unemployment | An unemployed person is one who is able and willing to work, but fails to find work for which he is qualified |
| Tax | A compulsory charge or payment imposed by government on individuals and corporations to meet the expenses incurred in the common interest of the people |
| Tax Base | A set of incomes on which direct taxes, and transactions on which indirect taxes are levied |
| Rupee | The standard unit of Indian currency |
| Subsidy | Payments by government to firms or household that provide or consume a commodity |
| Saving | That part of disposable income which is not consumed. It is excess of income over consumption |
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