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

RATIONAL APATHY

The indifference that a voter usually feels when they make the reasonable assumption that his or her vote will not have any real influence on the conclusion of an election.

RATIONAL CHOICE THEORY (RCT)

Attempts to explain social phenomenon in terms of how self-interested individuals make choices under the influence of their preferences. All parties try to maximize their advantage, and to minimize their disadvantages.

RATIONAL IGNORANCE

This is the deliberate choice of a person to not pay attention to certain information because it will yield little or no benefit in terms of the time and effort.

RATIONALE

A discussion of the reasons behind how a decision was made. Rationales document why the choice was made, how it was developed, what assumptions were used and why the conclusion is realistic.

RATIONALIZATION

1. Corporate: Also downsizing; closing down certain units to recognize a company?s core competencies and become efficient. 2. Psychological: Acknowledgment of reasonable and acceptable motives while being unconscious of true motives.

RATIONING

This process is necessary if the items in demand outweigh availability. A governing body will control the issuance of the goods to the public. Rationing takes place during wars and severe economic

RATIONING FUNCTION OF PRICE

Rationing function of price features raising the price higher so that less of the consumable will be purchased and used by the consumers and more will be conserved or rationed.

RAW LAND

When land is found in its natural state, it is called raw land. This means that there have been no manmade improvements such as clearing, digging, grading, cleaning and more.

RAW MATERIAL

Raw materials are basic substances found in their natural, modified, or semi processed state, used as an input to a production process for subsequent modification or transformation into a finished good.

RAW TIME

The amount of time it takes to perform each individual task in an operation. This number is derived from a study of time, motion, historical information and standard time data.

RAZORBLADE MODEL

A business model featuring selling an item at a low price to sell consumable products later. The name refers to the Gillette Company selling handheld razors cheap and then making a profit

RBC CASH INDEX

Survey conducted by the RBC Financial Group that measures customer spending and attitudes by each household. The RBC CASH index provides indication of consumer confidence and expectations for the economy.

REACH AND FREQUENCY (R/F)

The Number of homes, which are exposed to a media schedule multiplied by the number of times they are exposed. The result will indicate the total potential audience exposure in a specific

REACTION

Chemical alteration that often goes together with a release of energy and occurs naturally over time. It is purposefully generated in a laboratory, or created as part of an industrial process.

REACTION ADJUSTMENT

A lull in the price of a security or profit of the entire stock market after a rally.

REACTION PLAN

A reaction plan is the action that is taken in a control plan when abnormal events or a non-conforming phenomenon have been detected.

REACTIVE

1. Personnel management: An action that is not internally motivated but may manifest in response to a situation. 2. Safety management: Volatile chemicals that react with its surroundings or certain other chemicals.

REACTIVE STRATEGY

A reactive strategy occurs only when a management team or a manager is pushed or pressured into taking action to the changes that have taken place in a firm?s development.

REACTIVITY

Reactivity is the predisposition of matter to react with its surroundings such as air, light and water or other specific materials. Also see the definition of either reactive or reaction.

READERSHIP

The total number of subscribers and other readers of any publication.

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.