MB (Megabyte)
Unit of measurement for pieces of information : approximately 1 million bytes or a thousand kilobytes. Often shortened to Meg or just M. See also Gigabyte, Kilobyte, Byte.
Mbps (MegaBits Per Second)
A measure of speed of information flow over a network (and if it's measured in Mbps, it's reasonably quick.) A Megabit is one million bits. See also bps, Kbps.
Megapixel
A million pixels. Often used to measure the quality of digital cameras : the higher the number the better the camera.
MHz (Megahertz)
Millions of cycles per second. Most often used as a measurement of a PC processor chip's speed and power, with bigger numbers meaning more speed and a higher price. See also GHz.
Mobo
Abbreviated definition for motherboard (see motherboard).
Motherboard
The motherboard is the main circuit board inside your PC. Every components at some point communicates through the motherboard, either by directly plugging into it or by communicating through one of the motherboards ports. The motherboard is one big communication highway. Its purpose inside your PC is to provide a platform for all the other components and peripherals to talk to each other.
MP3 (MPeg-1 audio layer 3)
A very popular standard for compressing audio and particularly music files down to a reasonable size with little or no perceptible loss of quality, and the files created using it - "an MP3" is an audio file. See MPEG, Compression.
MPEG (Motion Picture Experts Group)
A set of standards for compressing video and audio files, and the committee that came up with them. Also, often used to mean movie files created to the MPEG standard.