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

Category: M

MULTI-BRAND STRATEGY

Under different and unrelated brands two or more similar and competing products are marketed by the same firm. Multi-brand strategy has some advantages as a means of (1) holding more shelf space,

MULTIFUNCTIONAL PERIPHERAL

One compact unit that combines fax, phone, scanner, copier, and printer functions is this type of office appliance.

MULTIPLE SOURCING

Using many different providers of components and services in the production process. This reduces production risk to the supply chain if it has a problem and keeps production on track in the

MUNICIPAL IMPROVEMENT CERTIFICATE

To fund projects, local governments used this specific type of certificate . The loans issued with this certificate are interest and tax free. This helps minimize the cost to the local governments

MYSTERY SHOPPER

Posing as a casual shopper, gathering information on the stores’ display, prices, and sales staff quality, this specific type of person is hired by a market research firm or a manufacturer to

MACHINE HOUR

Measured as one machine working for one hour. Not a labor hour. Used in mechanized production to apply overhead costs to work-in-process inventory. Necessary for cost accounting,

MADISON AVENUE

Well-known, popular New York City – Manhattan district street. Named after the fourth President of the United States, John Madison. Pricey real-estate, high-end shopping, and large advertising agencies are trade-mark characteristics. The

MAINTENANCE CAPABILITY

Drawings, facilities, funding, personnel, spare parts, technical data, test equipment, tools defined as resources available for required maintenance tasks.

MAKE OR BUY DECISION

To make a particular item in-house, or to buy it from a supplier as a more advantageous determination. Qualitative quality control and quantitative relative cost are factors considered in the choice.

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

MAN-YEAR

A 12-month period of one person’s productive effort represented as a unit of work. Also known as labor year.

MARGINAL EXTERNAL BUDGET

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

MARGINAL RATE

A taxpayer’s taxation rate on the last income dollar. Earlier income tax rates are lower, and the rates increase at specific income increments as income increases.

MARITIME LAW

Law governing sea or seaport bound actions conducted and commerce transacted. Registration, license, and inspection procedures for ships and shipping contracts, insurance and carriage of goods and passengers are included.

MARKET GROWTH

Particular product’s or service’s increased demand, tracked over time. If consumers have no high demand, growth is slow or stagnant. If consumers develop product or service loyalty at a specific price level,

MARKETING CHANNEL

The path from vendor to the consumer of a company’s goods and services, flowing in one direction. Also, this is the path that payments from consumer to the vendor generated by sales

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