List of Terminology Index – O

Octroi : It is a take charged by the municipality or local body on the goods and commodities brought into town. It is an important source of revenue for the municipal authorities.

Oligarchy : Government by a small exclusive class, a State so governed; a small body of men who have the supreme power of a State in their hands.

Ombudsman : A vigilance officer with wide powers, to help and protect the individual (common man) against official oppression.

Open Economy : Economy that has trade relationships with other countries. It exports and imports commodities as a normal point of its activity.

Ordinance : An urgent measure promulgated by a Head of State on his own authority to meet emergency conditions, usually limited in duration.

Ostpolitik : An attempt of friendly relations between West Germany and East Germany and removing the cold war atmosphere.

Ottoman Empire : It is the name of the Turkish empire which lasted from 12th to the 20th century.

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