Fox has decided not to renew "Terra Nova" for a second season. While the series had some problems, it was definitely showing signs of improvement, and had an amazing series finale. Unfortunately, it didn't have the ratings to justify the expense of each episode.
This does not necessarily mean the series is over. 20th Century Fox TV, which produces the series, is shopping the show to other networks. Maybe it would do better in the hands of Syfy or AMC.