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

NEW FEDERALISM

Under the Nixon administration, this new plan transferred back to the state level some powers previously held by the federal government. Some powers were removed from the state level under Franklin Roosevelt’s

NEW MEDIA

The Internet is an example of this electronic interactive media.

NEW KEYNESIANS

Adherents to a macroeconomic theoretical model developed in the 1980s. This model evolved from a prior model espoused by British economist John Maynard Keynes. Prices and wages change more slowly with short-term

NEW PARADIGM

Business changes driven by a new investing pattern or method.

NEW TOWN

Specifically designed to serve a mix of residential, commercial, and industrial needs, this is a self-contained, self-governing community, city, or town built strictly to a detailed plan on land standing undeveloped.

NEW YORK STANDARD FIRE POLICY

Used widely in almost all states, this is a specific type of basic fire insurance contract. This policy is no longer widely used, but still exists in some states. The policy was

NEW YORK MERCANTILE EXCHANGE (NYMEX)

For the precious metals and energy markets, one of the most active options exchanges is this specific commodities futures’ exchange, the world’s largest. NYMEX has two divisions: NYMEX, for trading energy, platinum,

NEW FOR OLD

Instead of repairing old parts, replacing old or damaged parts by this type of purchasing new parts.

NETWORK EFFECTS

A single person’s effect from using a good or a service on the total perceived value of that product or service for others. The more people who use a product or service,

NEWLY ACQUIRED AUTOS

The insured must notify the insurer about a newly purchased vehicle within 30 days from purchase date. Some coverage automatically activates under the policy for vehicles purchased during the term of the

NEWCO

Any new company, especially one issuing an initial public offer (IPO), for example.

NEWLY INDUSTRIALIZING ECONOMY (MIE)

Brazil, China, India, Korea, Mexico are developing but relatively advanced countries with rapidly growing industrial production scale and scope. Also known as newly industrializing country.

NEWSGROUP

Online discussion group for interaction via an electronic bulletin board system and chat sessions. Every conceivable subject is covered by thousands of internet based newsgroups. (refer to Usenet) (refer to internal relay

NEWS FEED

A continuous data transmission sending news updates to web sites through a syndicated news service provider. Summaries or links of the transmissions refer the user back to the original news source. Also

NEW YORK STOCK EXCHANGE (NYSE) COMPOSITE INDEX

Market capitalization value weighted index. Covers common stock price movements as ordinary shares of some 2300 firms listed on NYSE. , All shares relate to an aggregate market capitalization value set December

NEWTON (N)

Force measured as this specific type of metric unit. Force due to gravity also uses this unit of weight. One newton is defined as the force needed to accelerate a one kilogram

NICHE MARKETING

A small but specific and well-defined population segment is the focus of this concentrated marketing effort. As a strategy, niche marketing is aimed at being a big fish in a small pond

NFP ACCOUNTING STANDARDS

The Financial Accounting Standards Board (FASB) and the Government Accounting Standards Board (GASB) regulate these standards.

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