O(N) is read "Order of N" because the O function is also known as the Order function. I think this is because we're doing approximation, which deals in "orders of magnitude". It's a different meaning of "order", that has to do with the shape of the size-vs-time curve. It's the same meaning as the order of a polynomial ("x" is linear or 1st order, "x^2" is quadratic or 2nd order, etc). but Big-O is all about the appro…
Let ℜ be the set of all real numbers. Let F(ℜ) be the set of all functions f: ℜ → ℜ. Let X be a set and 𝒫(X) be the power set of X, i.e., the set of all subsets of X.
Then "O" is a function O: F(ℜ) → 𝒫(F(ℜ)) such that
O(g) = { f ∈ F(ℜ) : limsup_{x→∞} f(x)/g(x)
That is, O takes as its input a function from the reals to the reals and returns a set of all functions which are in its "Big-O" class.That seems really, really pedantic and not particularly illuminating.