Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: M

MANAGED ACCOUNT

Investment manager administered and supervised investment account, containing one or more investor’s invested the funds. In proportion to their contribution to the account, these investors share in the gains and losses.

MANAGERIAL FLEXIBILITY

The management team’s ability to fit investment decisions to existing market conditions, such a timing and scale, versus to preset assumptions and goals. A mining company with managerial flexibility in its operations

MANTISSA

Written on the right of the decimal point, this is the fractional part of a decimal fraction. It is also a common logarithm’s decimal part.

MAP CLERK

Tracking an insurer’s exposure in a given area is this junior underwriter’s task. Tracking on maps property covered by policy number is how this is done.

MARGINAL EXTERNAL COST

Total incurred cost change of some households or businesses due to a unit change in other households’ or businesses’ consumption or output.

MARGINAL RATE OF SUBSTITUTION

Quantification; Measurement: while maintaining the same satisfaction level, how much of one commodity will a consumer give up to get one or more units of another commodity.

MARK TO MARKET

1. In Accounting, this is posting an asset as ‘marked’ or recorded at actual purchase / acquisition price or book value in the account books. 2. in Securities, this is a security’s

MARKET MAKER

Broker, dealer, or investment firm that takes possession of, and trades in, a security as a principal, thereby assuming market and systemic risk. Continually quoting bid and offer prices, and guaranteeing full

MARKETING MANAGEMENT

A company’s marketing resources and activities assessed and resourced to apply, track and review events and activities.

MARXISM

Economic, social, and political philosophy as a organized method based on the view that social change is definable in terms of economic factors. The means of production is the economic base that

MASTER FRANCHISE

Within a specified geographical area, a franchisee with the right to appoint sub-franchisees is authorized by the franchiser in this specific type of arrangement..

MATCHING RULE

Offsetting an income transaction with an expense transaction is the duty of an accountant.

MATHEMATICAL MODEL

Forecasting future behavior method of simulated real-life situations with mathematical equations as this type of mathematical modeling. Decision-theory, queuing theory, and linear programming are typical tools. Large amounts of number crunching are

MATURITY INTERMEDIATION

Borrowing at short-term interest rates, but loaning funds long-term. Bank is in a vulnerable position.

MAXIMUM INVENTORY LEVEL

A never-to-be-exceeded inventory. One method of inventory control is calculating maximum inventory level.

MEAN MAINTENANCE TIME

Preventive maintenance time and corrective maintenance time is tallied together, then divided by the total preventive and corrective maintenance actions occurring over a year.

MEDICARE SELECT POLICY

Benefits to specific providers in-network are paid by Medicare through this specific type of supplement policy or certificate.

MEMORANDUM (MEMO)

As a means of communication, or to outline the terms of an agreement in its draft stage one uses this type of informal written brief, note, record, reminder, or summary.

MERCHANDISING SERVICE

Communications media service provided to advertisers. Advice on ad placement or demographic information about a medium’s market are a few examples of merchandizing service.

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