model noun Meaning in Cambridge Business English Dictionary
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Meaning of "model" - Business English Dictionary

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model

noun [C]
 
 
/ˈmɒdəl/
a particular type of machine, which is slightly different from machines of the same type: When renewing insurance, please tell us the make and model of your car.basic/popular/standard model In the US the basic model sells for $499 before tax.cheaper/luxury model A luxury model has a mahogany frame and is upholstered in calfskin.the current/latest/new model Speed and reliability of its latest model of high-speed train have improved.discontinued/old/previous model Once a new phone hits the shelves, interest in the old model will drop sharply.design/develop/make a model We designed a new model that uses less electricity.produce/release a model This model was produced to meet a rising demand for the new features. →  Compare brand noun , make noun , unit
something such as an object, plan, or set of rules that is used to show what something else is like or how it works: a scale/working model Retailers expect to have a working model and retail pricing information by summer. economic/financial/mathematical model No economic model can forecast growth in jobs in industries that are just being created.statistical/strategic model The charts shows a predicted oil price that is calculated using a statistical model.
a way of doing something that can be used as an example or can be copied: He prefers the American approach to wealth creation over the European model.a model for/of sth The company continues to be a growth leader and a model of operating efficiency. The software company's strategy has served as a model for many small startups.
→  See also the Black-Scholes model , business model , capital asset pricing model , computer model , demonstration model , option pricing model , pricing model
(Definition of model noun from the Cambridge Business English Dictionary © Cambridge University Press)
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