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| Macroeconomics - The economics of the economy as a whole- the forces causing recession, depression, and inflation together with the forces resulting in economic growth. |
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| Mann-Whitney test - A test in inferential statistics , similar to the Kruskal-Wallis test , that seeks to determine whether the differences in values between two sets of observations from any population are statistically significant. |
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| Map book and page system - A system for parcel identification in which a code (usually numeric) is used to identify each parcel, each code containing four elements: the volume or book of maps in which the parcel is to be found, the page on which it is to be found, the block, and the individual parcel on the block. |
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| Marginal cost - The change in a firm's total costs per unit change in its output level. |
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| Marginal physical product - The change in total output of a firm resulting from a one-unit change in the employment of a resource, holding the quantities of other resources constant. |
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| Marginal revenue - The change in a firm's total revenue per unit change in its sales level. IT is price in pure competition only. |
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| Marginal unit - The last unit added to any economic process. |
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| Marginal utility - The change in the total utility to a consumer that results from a one-unit change in the consumption level of an item. |
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| Marginal utility theory - A theory of consumer choice that says that consumers will maximize welfare by allocation of their budget such tat the marginal utility per dollar is equalized across all purchased goods. |
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| Market - The ôplaceö in which buyers and sellers interact. The collective body of buyers and sellers for a particular product. |
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