Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

PROBABILITY SAMPLING

A method of sampling wherein every single sample has a known and fixed probability of being selected.

PROCESS CONTROL

The steps taken to ensure that the output of a process is consistent and stable, with a desired level of performance and minimal variance.

PRODUCT LAUNCH

The introduction of a new product into the market. It signifies the point where buyers have access to the product for the first time.

PROFIT MOTIVE

The main reason behind involvement of a large number of people in enterprising sector.

PROJECT FINANCING

A mode of financing the project where the repayment is based on the cash flows after the completion of the project and the fixed assets involved in the project are kept as

PROMOTION

Used in marketing to highlight a product and promote it to the general public by advertising and publicity. It is a way to increase sales in a particular category as it is

PROPERTY OTHER THAN MONEY AND SECURITIES

This property relates to items such as furniture and other office supplies that are not included as either property or money that still have some value to the owner. It is used

PROPRIETARY SOFTWARE

This is the software that is protected by copyright laws and patents that belong exclusively to the publishers and developers of said software. This software cannot be copied without permission and is

PROTECTIONISM

This is carried out by a country in order to protect its own products against the importation of inferior and cheaper products. This is done by placing high duty tarrifs on goods

PROXY SERVER

This is a server that acts as a firewall between an internal server and an external server. For example a company will use a proxy server to the internet so its original

PUBLIC BID OPENING

The unsealing and reading of sealed bids that have been received in respinbse to an invitation for bids. Any interested member of the public as able to attend a bid opening. Bids

PUBLIC LAND

Known in some counrires as crown land. This is land that belongs to the government who owns the title to the land. This land is not owned by a company or individual

PUBLIC SERVICE COMPANY

Also known as a public service utility or corporation. A company that is publicly or privately owned that will provide a service to the public. They provide transport, communications and the like.

PUBLISHING

Commuinicating a document or a message by way of media such as print, radio and television. A document that goes through the publishing process that means it can be seen or read

PURE EQUITY TRUST

A trust that is irrevocable. The assets of the trust are acquired by a certificate exchange of beneficial interest instead of assets. This is different from gifting.

PUSH ORDERING SYSTEM

An arrangement that is made to replenish the stock after it has been sold. The stock will come from a central distribution centre that distributes to variuos centres for sale. Often the

QHSE

An acronym for quality, health, safety, environment. These are the four components that have been identified that allow for human error to be the cause of all accidents in the work place.

QUALITATIVE

This describes a property that is associated with a certain item or product. It will describe the reputation, feel, smell, taste, image of a certain product. It can aslo be used to

QUALITY ENGINEERING

A process by which the best quality product will be be produced. It covers all aspects of production from an items inception to its eventual placement on the shelves where it is

QUALITY PLAN

A document generated that lists the activities and practices that are required in order to create a quality product from its quality policy. It will use a time frame that needs to

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