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

Category: M

MULTIMEDIA

Education, entertainment, or training through computer hardware and software using animation, audio, graphics, text, and full-motion video occur with this type of integration.

MULTISOURCING

Several providers are used to execute an essential business function. These sources are internal and external and divide the activities and services need. This gains better control over the cost and accountability

MUTUALITY DOCTRINE

All contracting parties must enforce a contract for the contract to be legally enforceable, as a legal principle.

MA BELL

Telecommunications giant AT&T’s old, nostalgic name. Originally called Ma Bell because it was the primary service provider of telephone services and seen as the mother of the industry. The company adapted to

MACRO RATING

Superseded by CAMELS rating since 1994. Older evaluation-soundness measure of a bank. Management, asset quality, capital adequacy, risk-management, and operating results are evaluated.

MAIL ORDER/TELEPHONE ORDER (MOTO) DISCOUNT RATE

When the actual card is unavailable to the merchant, the merchant’s account provider charges a handling fee for credit card transactions. By-mail, by-phone, or by-Internet orders are that situation. Due to the

MAJOR HOSPITALIZATION POLICY

Only covers expenses from the time the insured is hospitalized is a policy that is essentially the same as major medical insurance.

MALL INTERCEPT

Asking questions of shoppers in a mall will take place for the purpose of marketing research conducted as one type of interviewing.

MANAGEMENT COMPANY

Managing mutual funds, unit trusts, hotels, resorts, property development, and offshore companies for a management fee is what this organization does when retained by investors/owners. Providing services much like accounting, general administration,

MANIPULATED VARIABLE

An independent variable one can alter to get a particular effect. For example, for a period of time to see how one’s weight changes in response, one can lower one’s calories intake,

MANUFACTURING COST

Direct material, direct labor, fabrication, manufacturing overhead, assembly, and end-item testing all comprise this type of cost.

MARGINAL PRODUCTIVITY

With all other factors remaining constant, this is the resulting output change from altering, by one unit, the labor input.

MARGINAL UTILITY

With all other factors remaining constant, this is an activity’s overall benefit increase caused by a unit’s activity level increase. Also known as marginal benefit.

MARKET CONDUCT EXAMINATION

To evaluate an insurer’s practices and operations, the state’s insurance department conducts this type of examination. The intent is to establish in that state the insurer’s authority and worthiness to practice its

MARKET SKIMMING PRICING

A producer’s strategy of setting a high price for an exclusive, new high-end product. Some examples are a very expensive perfume or a uniquely differentiating technical product, like a one-of-a-kind software or

MARKS

An identification consisting of letters, numbers, and/or symbols painted, printed, stamped, written, or otherwise affixed to cargo containers or packages. The shipper is responsible for marks. Any backfreight or overcarriage due to

MASS MERCHANDISE

Goods that many people, even most people, consume each and every day. Candy, diapers, milk, snacks, soft drinks, and toilet paper are a very short list of examples of products mass merchandised,

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