Category: P

An individual or entity that produces animal, agricultural or botanic products mainly through the natural processes, but with a little bit of stimulation provided by nutrients, labor, etc.

A macroeconomic tool used to measure the rate of inflation over a certain period of time, normally in decades. Productivity refers to the capacity to produce and cost refers to the economic

Distribution of payment period at certain different stages, to be made to a contractor, according to the work being done.

It is projected amount minus the real amount.

Legal documents. Proof that a legal document has been delivered and accepted by the party it is intended for. Documents such as a writ or a subpoena to appear in court on

A legal precedent that will prevent a party from denying the right that another party has in the first party’s property. The second party will have had costs in relation to the

A time in which a state or country has a low level of unemployment and a high level of sales and total incomes. If inflation is kept low, sales figures will increase

The quantity of a resource such as oil, coal and gas that is expected from new mining operations or after an injection of new funds is made available for the existing mines.

This uses the results of psychological tests to determine a persons abilities, attitudes, aptiudes, behaviour

The money that is used by the government to provide goods and services to the public in general. This money has been generated by the government.

The policies that have been declared by the state that covers the state’s citizens. These laws and policies allow the government to stop any action that is against the publics’ interest. There

A storage facility that is made available to anyone who would like to store any sort of goods. Any person or company can use the storage.

The agreement by which a buyer agrees to sell an item to a purchaser. The buyer needs to agree to a set of conditions in order to buy the product.

A trust situation that involves three parties. The parties are the creator of the trust, the trustee, and the beneficiary. This is a contractual trust and is different to a statutory trust

Used in finance to pay off one loan by taking out another loan. This continues until the whole scheme collapses and the borrower declares bankruptcy in order to relieve himself of the

A guaranty made by a financial institution that assures the secureness of the prepayments made to a contractor.

The force experienced by a surface that is expressed in terms of force per unit area. Its SI unit is Pascal (a force of one newton on an area of one square

The agreement between a customer and the contractor that is used to determine the price or cost of reimbursement.

Assuming that all other factors remain constant, this principle states that for every additional quantity of a good consumed, the marginal satisfaction derived for the user decreases.

An adjustment of the errors in the financial statements of a previous period, that is reflected in the financial statement of the current year.