A witty saying proves nothing. - Voltaire

M

M1:

Coins, currency, and checking account deposits.

M2:

M1 plus short-term savings account deposits and other various short-term deposits.

Manifest Destiny:

The belief that the United States was destined to expand from the Atlantic seaboard to the Pacific Ocean; it has also been used to advocate for or justify other territorial acquisitions.

Map Elements:

Title, compass rose, scale, key and symbols.

Map Projection:

A mathematical formula by which the lines of a global grid and the shapes of land and water bodies are transferred from a globe to a flat surface, for example, Mercator, Robinson, conic, and polar.

Marginal Benefit:

The additional benefit obtained from choosing a little more or a little less.

Marginal Cost:

The additional cost incurred by choosing a little more or a little less.

Market(s):

A collection of buyers and sellers of a particular good or service.

Market Economy:

An economic system in which goods and services are allocated by free markets.

Market Price:

The amount actually paid or about to be paid in a particular transaction.

Medium of Exchange:

An item used to facilitate exchange.

Mental Map:

Maps made from memory.

Mercantilism:

Economic system of the major trading nations during the 16th - 18th centuries, based on the idea that national wealth and power were best served by increasing exports and collecting precious metals in return.

Migration:

The act or process of people moving from one place to another.

Mixed Economy:

An economic system that includes command and market elements.

Monarchy:

Form of government in which one person has the hereditary right to rule as head of state; term is also applied to the state ruled by the monarch.

Monetary Trade:

A trade in which money is used to pay for a good or service.

Money:

Anything widely accepted as a final payment for goods and services including currency, coins, or checks. Credit cards, while accepted for payment, are not a final form of payment. Credit card purchases are short-term loans, not money.

Money Supply:

Currency, coins, and checking account deposits.

Monopoly:

A sole provider of a good or service.

Multinational Corporation:

A corporation that has its facilities and other assets in at least one country other than its home country.