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

Category: O

ORGANIC FARMING

Agricultural production processes that only use natural sources of nutrients and do not use synthesized chemicals or genetically modified crops.

ORGANIZATIONAL COMMUNICATION

The study of communication within and between organizations. It considers the impact of communication structures on the individuals within those structures, and can contribute to effective management.

ORGANIZED CRIME

Long-term criminal activity conducted in a structured and systematic manner, with the aim of generating illicit income. The activities and techniques vary, often involving violence, theft, fraud and trade in illicit items

OTHER STRUCTURES

Structures that are covered by homeowner insurance, but that are not part of the main property (e.g. sheds, garages, gazebos).

OUTGO

Operating costs that exceed income generation.

OUTPUT GAP

The gap that exists between the actual GDP of a country and the GDP of the country at maximum capacity or efficiency. A negative output gap suggests improper allocation or use of

OVERHEAD RATIO

The amount of revenue that must be generated to cover the daily cost of manufacturing.

OVERRUN

1. A product (or print) run that exceeds orders for the finished articles. 2. A cost in excess of the budgeted amount.

OWN PRICE ELASTICITY OF DEMAND

The increase (or decrease) in the demand for a product, divided by the decrease (or increase) in its price, assuming other variables remain constant.

OBJECT ORIENTED PROGRAMMING (OOP)

a programming ideology that views programs as a combination of objects, which are capable of exchanging information between one another, and can be easily combined to form modules or blocks. An object

OCCUPATIONAL OUTLOOK HANDBOOK

A guide that is updated annually with regards to providing information on the different job types. It is released by the Labor Bureau of Labor Statistics department of the US government. It

OFF PREMISES

A percentage of the total coverage amount that is in effect at a location that is not covered in the details of the policy

OFFICE OF MANAGEMENT AND BUDGET (OMB)

A executive agency under the federal government that works closely with the President to provide recommendations with regards to budgetary matters such as the preparation of the budget that will be reviewed

OFFLINE

A computer that is not electronically connected to another computer or network even though the physical connection is still present. Offline work protects the manipulation of sensitive work by other users on

OFFSITE IMPROVEMENTS

Improvements such as sidewalks, utility lines and sewers that developed off site, that add value to the onsite improvements and thus the entire development.

OLIGOPOLISTIC

A commodity market controlled by a few producers, typically resulting in higher prices for consumers.

ON THE FACE

Immediately evident, based on superficial observation.

ONLINE ADVERTISING MEASURES

There are five basic measures for online marketing: 1. Number of unique visitors. 2. Number of visits to a particular website. 3. Number of page views (a website usually consists of multiple

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