Archive | M RSS feed for this section

MACHINE

In patent law. Any contrivance used to regulate or augment force or motion; more properly, a complex structure, cousisting of a combination, or peculiar modification, of the mechanical powers.The term “machine,” in patent law, includes every mechanical device, or combination of mechanical powers and devices, to perform some function and produce a certain effect or result. But where the result or effect is produced by chemical action, by the operation or application of some element or power of nature, or of one substance to another, such modes, methods, or operations are called “processes.” A new process is usually the result of discovery; a machine, of invention. Corning v. Burden, 15 How. 252. 267, 14 L. Ed. 683. And see Pittsburgh Reduction Co. v. Cowles Electric Co. (C. C.) 55 Fed. 316 ; Westinghouse v. Boyden Power Brake Co.. 170 U. S. 537, 18 Sup. Ct. 707, 42 L. Ed. 1136; Burr v. Durvee, 1 Wall. 570, 17 L. Ed. 650: Stearns v. Russell, 85 Fed. 225, 29 C. C. A. 121; Wintermute v. Redington, 30 Fed. Cas. 370.

Comments are closed

MACHINE BUREAUCRACY

Typical in large, established organizations that have formalization and specialization at a high degree. Top level making decisions, lower levels mechanically carrying then out is this type of management structure.

Comments are closed

MACHINE CONTROLLED TIME

No intervention by an operator is typical of total machine control of the machine’s work cycle segment.

Comments are closed

MACHINE ELEMENT

Machine controlled time’s measurable subdivision.

Comments are closed

MACHINE HOUR

Measured as one machine working for one hour. Not a labor hour. Used in mechanized production to apply overhead costs to work-in-process inventory. Necessary for cost accounting,

Comments are closed

MACHINE INSTRUCTION

A program’s operation commands. Usually a compiled machine-native code. Also known as machine code. A computer, robot, or computer-driven machine recognizes these and executes them.

Comments are closed

MACHINE LEARNING

Using repetition and experience as how humans seem to learn. Using software whose operations mimic these methods, employing artificial intelligence techniques to enhance the ability of a machine to improve its own performance.

Comments are closed

MACHINE READABLE

Data or instructions readable through a computer’s electronic device. This input is ready for interpretation and manipulation. Bar codes, magnetic ink, or disk are sources of this data or instructions. Laser scanners, magnetic stripe readers, or disk drives are the reading devices.

Comments are closed

MACHINE SCANNING

An optical device reads printed materials and transfer into digital format as electronic data input. Optical character recognition (OCR) technology is used.

Comments are closed

MACHINE TOOL

Non-portable, power-driven industrial device. Machine tools are ‘machines that make machines.’ Abrading, cutting, drilling, forming, grinding, nibbling, or shaping of a piece of metal or other material are examples of tool operations.

Comments are closed

MACHINERY

A more comprehensive term than “machine;” Including the appur- tenances necessary to the working of a machine. Seavey v. Central Mut. F. Ins. Co., Ill Mass. 540.

Comments are closed

MACHOLDM

In old English law. A barn or granary open at the top; a rick or stack of corn. Spelman.

Comments are closed

MACRO FORECAST

Broad, all-encompassing economic forecast covering employment and gross domestic product (GDP).

Comments are closed

MACRO HEDGE

An offset designed to use futures contracts to eliminate, reduce, or otherwise mitigate an entire entity’s portfolio-based economic risk. Also refer to micro hedge.

Comments are closed

MACRO MARKETING

National, societal-based perspective-study of broad marketing activities, institutions, and processes. Starting at an economy’s aggregate goods and services flow, it determines social benefits as resource consumption and environmental effects.

Comments are closed

MACRO RATING

Superseded by CAMELS rating since 1994. Older evaluation-soundness measure of a bank. Management, asset quality, capital adequacy, risk-management, and operating results are evaluated.

Comments are closed

MACRO RISKS

The nation’s economic relations with another nation as potential political issues. An example is a country’s middle class population revolting. Actions within or outside governmental control are viewed as potential risks.

Comments are closed

MACROECONOMIC CONDITIONS

National or state-level economic factors. These influence the whole aggregated economy. Changes in employment levels, gross national product (GNP), and prices, be it deflation or inflation, are typical influences.

Comments are closed

MACROECONOMIC EQUILIBRIUM

Meeting aggregate demand with aggregate supply as a national economic conditional activity. Prices, employment and resources show impacts by significant movement on either side.

Comments are closed

MACROECONOMICS

A subject of study. Macro is the behavior of entire, aggregated economies or economic systems. In contrast, Micro is the behavior of individuals, individual firms, or more local markets. National income forecasting, from analyzed major economic factors, show predictable patterns and trends influencing one another. Employment and unemployment levels, gross national product (GNP), payments position balance, and deflation or inflation prices all contribute as factors. Fiscal and monetary policies, economic growth, and consumption and investment levels all play a role in these factors.

Comments are closed