In 1965 Mexico created the Maquiladora (or Border Industrialization) Program. The program was initially a modest attempt to shift PRODUCTION activities away from the Mexico City area in response to changes in U.S. TARIFFs that limited customs duties on U.S.-fabricated components shipped abroad for assembly and then returned to the United States.

Manufacturers’ representatives (also called manufacturers’ reps or manufacturers’ agents) are independent sales people who work for a number of manufacturers of related by not competing PRODUCTs. Manufacturers’ reps are paid on a commission basis for the sales they generate.

Managerial accounting is sometimes called cost accounting.

Management gurus are influential teachers, educators, and even mentors on such topics as global business, human resources, and productivity.

Management is the essence of an organization, responsible for the accomplishment of its mission. In particular, management, like medicine, is both a science and an art. It is a science because research has documented certain management principles and theories that have a scientific basis.

The Malthusian trap, named after the 19th-century political economist Thomas Malthus, is the idea that population can or will outgrow the means to feed itself. The result would be widespread famine. (Malthus is one of the reasons economics is called “the dismal science.”)

Make-or-buy decisions are concerned with whether PRODUCTs or components should be made in-house or purchased from external sources. These decisions are a simple economic decision based on COSTS. However, in many instances make-or-buy decisions are more strategic and can affect a company’s competitive position.

Mail SURVEYS are a method market researchers use to collect customer and potential customer information. Like other data-collection methods (TELEPHONE SURVEYS, personalinterview surveys, OBSERVATION, INTERNET SURVEYS, and tests), mail surveys have both advantages and disadvantages.

In most business contexts, Madison Avenue refers to the major ADVERTISING agencies with offices on Madison Avenue in New York City. It is also a major retail shopping district in the city.

Macroeconomics is the study of aggregate economic systems, most often the study of a nation’s economy. Macroeconomics includes analysis of an economy’s INCOME, output, EMPLOYMENT (and UNEMPLOYMENT), and INFLATION. Often economists use the CIRCULAR FLOW MODEL to portray the relationships among households, businesses, and government interacting in consumer, financial, and resource markets.