Developing a good understanding of economic terms for the UPSC exam can be accomplished through a structured approach. Begin with NCERT textbooks for foundational knowledge, followed by standard texts such as Economic Survey and Ramesh Singh’s Indian Economy. Regularly following current affairs related to the economy, through newspapers and economic journals, will help in understanding real-world applications. Joining study groups and discussing economic issues can enhance comprehension, while practicing previous years’ questions will familiarize candidates with the examination's expectations.