Glossary |
Terms that are on use on this site.
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| There are 7 entries in the glossary. |
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| MAI | Multilateral Agreement on Investment - a package of trade
rights giving power to investors. It has been proposed and
rejected at the World Trade Organization (WTO) and the Organization
for Economic Cooperation and Development (OECD) but is still
being promoted by big business.
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| Maquila | Short form of the Spanish word maquiladora. Originally
associated with the process of milling, in Mexico it has become
the word for another kind of processing -- the assembly of
imported component parts for re-export. Companies like working
in maquilas because of low wages, lack of environmental or
labour regulations, low taxes, and few if any duties. |
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| Marshall Plan | An economic recovery plan put forward by US Secretary of State
George Catlett Marshall on June 5, 1947 to rebuild Europe
after the end of World War II. Some people suggest we need
another Marshall Plan today to help rebuild other devastated
economies such as the economics of developing countries.
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| MERCOSUR | Mercado Comun del Cono Sur (Common Market of the Southern
Cone), a free trade block and customs union, comprising Brazil,
Argentina, Uruguay, and Paraguay.
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| Monopoly | A condition of trade where there is essentially only one provider of a particular product or service. A monopoly declares a lack of competition that might otherwise reduce the pricing levels of the product or service in question. Monopolies are seldom benevolent. |
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| Monopsony | The inverse of a monopoly in that there is only one buyer in a market rather than one seller. A monopoly will always seek to create a monopsony in order to control the supply of raw materials to drive down cost of manufacturing. |
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| MOU | Memorandum of Understanding - used in treaties and international agreements
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Glossary V2.0 |
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