Derived from the first sense, multitasking is the colloquial term for a human being's simultaneous handling of multiple tasks.
--As an example, simultaneously listening to a telephone board meeting on mute, participating in a credit committee and IM'ing daughter, signing legal documents while checking email on blackberry. See JSL.
Media Multitasking could involve using a computer, mp3, or any other media in conjunction with another.
Polychronistic time is the business jargon way of describing multitasking.
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Joshua Rubinstein, Ph.D., of the Federal Aviation Administration, and David Meyer, Ph.D., and Jeffrey Evans, Ph.D., both at the University of Michigan, describe their research in the August issue of the Journal of Experimental Psychology: Human Perception and Performance, published by the American Psychological Association (APA).
To better understand executive control, as well as the human capacity for multitasking and its limitations, Rubinstein, Meyer and Evans studied patterns in the amounts of time lost when people switched repeatedly between two tasks of varying complexity and familiarity.
Thus, multitasking may seem more efficient on the surface, but may actually take more time in the end.