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

SLOT

The small but specific time period when a commercial or ad is aired.

SNOB EFFECT

The demand for an item in a higher market that inversely varies with the demand in a lower income market.

SNAKE OIL

A mixture of exotic ingredients that promise to cure all ills that usually has no medicinal properties at all.

SOAP

A compound soluble in water containing caustic potash or soda mixed with animal and vegetable fats to produce a substance that when wet will remove grease and oil on dirty surfaces. Detergents

SMARTPHONE

A mobile phone with many features of a computer included in its functions.

SOCIAL ACCOUNTABILITY

The measures that are made by an organisation to be aware of concerns to the community surrounding it. It is reflected in a commitment to health and safety, civil and human rights

SOCIAL ACCOUNTING

A method using the accounting basic principles in the social aspects such as medical and environmental area of economics.

SMORGASBORD

A Scandinavian term for a cold buffet. Now it is where all courses are offered at the same time, both hot and cold. Swedish – sandwich table.

SMART FLUID

A suspension of zeolites or metals inj liquid that becomes a solid when an electric current is passing through it and returns to a fluid when the current stops.

SINKHOLE COLLAPSE

A dangerous situation caused by the sudden collapse of a land mass into an empty space below it.

SLANDER OF GOODS

An intentional cast of aspersion on a person’s goods and merchandise.

SELECTION BIAS

A statistical error that causes one sampling group to be selected more than other sampling groups. It will craete a bias in an experiment.

RURBAN AREA

A new development of land that is between an area of rural activity and the edge of suburban area that has already been developed.

RUST BOWL

An area with a lot of manufacturing businesses that have all moved operation or closed down.

RUSTING

The result of electro chemical corrosion to iron and steel. It requires water and oxygen and is a form of oxidation.

SMOKESTACK INDUSTRY

A heavy manufacturing industry, cars, metal industries, that puts pollution into the air that is harmful to the local environment.

SLOTTING FEE

A sum paid to by the vendor to a retail chain for a place on its shelves, room in its wharehouse, puting the product on the store inventory and programming scanners to

SITUATION ANALYSIS

The collection and systematic evaluation of present and past economical, social, political and technological data that is aimed at identifying both internal and external forces on an organisation and assessing the organisations

SEED CAPITAL

A small amount of capital that is used at the beginning of a firms start up by the founders. Rarely is it provided by a financial institution due to the failure risk.

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