Category: M

An activity’s incremental cost as perceived by society. Adding marginal external cost and marginal private cost results in this value.

A relatively large market percentage covered by a relatively small group of entities accounts for this extent or degree.

An advertising medium or promotional campaign seeks to reach this estimated group of potential customers.

Process as a series of events whose past behaviors is no help in predicting any future behavior except the current or present behavior. It involves random chance or probability. Examples of Markov

Using mass distribution and mass media as a strategic attempt to reach an entire market with one basic, appealing marketing strategy. Also known as undifferentiated marketing.

The contract issued to the employer under a group insurance policy issued for employees. An insured who is able to issue certificates of coverage to others can obtain this type of property

Crucial to the interpretation of a phenomenon or a subject matter, or to the determination of an issue at hand this is a specific type of confirmed or validated event, item of

Provable by a record’s presentation, a public record establishes this type of fact or statement.

A bank is largely invulnerable to collapse due to depositors’ funds- withdrawal panic rush by this specific pattern of arranged repayments of depositors’ money.

The maximum amount the insured will be required to pay under a retrospective rating plan.

As an alternative to incentive payment or pay-for-results schemes, production standard or quota is used. In return for quantity and quality workers receive a regular, guaranteed pay rate. It is based on

Specified health care related expenses for employees are reimbursed by this specific type of plan.

A computer’s disk storage measure, be it a computer file’s size or storage capacity. Megabytes are often abbreviated as MB. One megabyte equals 1,024 kilobytes. More megabytes means more storage capacity, memory

A former electronic typewriter with memory that was able to hold a few pages of text. This early word processing device was difficult to use and very limited.

Imaginary north-south semicircle crossing the earth’s poles, and intersecting the equator and all latitude baselines at right angles. Each meridian aligns in a north-south direction with its end-points converging at the north

Acceptable forms of remittance for a given sales transaction, in stated terms. The product or service seller states the acceptable payment method.

Designed to remove or lessen economic risk tied to a particular asset or liability. Also refer to macro hedge.

One millionth (1/10x10x10x10x10x10) of a gram.

Microsoft (MS) Corporation personal computer (PC) operating system (OS). Microsoft introduced this OS in 1985 and it continues to be widely used despite competition from Apple’s Macintosh OS. As with other operating

Iron-carbon alloy with less than 0.25 percent carbon in the mix. This makes the steel more ductile, but unsuited for structural work as it is less sturdy.