India's Most Influential Business and Economy Magazine - A Planman Media Initiative 
   
  KEY TERMS
 

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Welfare economics
The branch of economics which studies the overall well being and efficiency of allocation of resources of a society

World Trade Organization (WTO)
Established in 1995, this international organization oversees and facilitates multilateral trade between nations.

Wholesale Price Index (WPI)
The price index paid by the retailers for which goods, they will resell to consumers.




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