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

Category: P

PUT DOWN

When a company decides to reduce the cost of an item in order to be competitive to increase sales. Normally the price is reduced to be the lowest in the market. It

PREREQUISITE

A necessary qualification before the next benefit, privelege, etc is received.

PREVAILING CHARGE

The determination of benefit amounts is based on the standard charges for the service in the residence area of the insured.

PRINCIPAL BASIS

Security selling through either one or more dealers who stock up in bulk for their personal portfolios. The bought securities are then sold at a marked up or marked down price.

PRINTRUN

The aggregate number of copies that is produced in a print job under the order of the buyer.

PRIVATE COST

The cost incurred by the supplier or producer to supply a goods or service. Internal costs such as labor, inputs, rent are included. Costs suchas environmental damage are however not accounted for.

PROBABLE RESERVES

The estimated amount of sources of energy that are present based on geological and engineering evidence. The recovery of such resources is possible using existing technology at an economical rate. However, the

PROCUREMENT

The entire process of purchasing goods that includes the purchasing decision, the selection of the goods, and the payment made by the buyer to purchase the goods. It involves (1)planning the purchase,

PRODUCTION POSSIBILITY CURVE

A two dimensional curve, used in macroeconomic analysis, drawan on a capital vs consumer goods graph. It is used to define the limitation of the economy when it comes to production and

PROGRAMMER

Individuals who write codes, which are transmitted to the computer as instructions. They must have the working knowledge of the lower and higer level to be able to instruct the machine well.

PROJECT PLANNING

Phenonomenon including the analysis of different stages of the project and respective scheduling.

PROOF OF CONCEPT

This is the evidence that will establish whether or not a particular idea or solution is at all feasible. An idea will need to feasible if you want a third party to

PROPOSITION 13

A constitutional ammendment that was approved in 1978 in California That started a revolt against the government. It set taxes at previous years prices and limited tax values.

PROPRIETY THEORY

This is a theory that states that all of the liabilities as well as the assets of a company are the responsibilities of the owner of the business. No one else is

PROTOTYPE

This is a model of the final product that is able to do eveything that the finished product will do. Usually made to show prospective sponsors a product and all of its

PRUDENTIAL FINANCIAL

A company started in Newark, New Jersey in 1875. A financial services company with many subsidiaries that operates across the USA and in 30 other countries for its clients.

PUBLIC FILE

This file contains sets of documents that the general public are allowed to see. There is no restriction on who can look at these documents.

PUBLIC NOTICE

A notice providing information for the public that is widespread throughout all types of media. It will be in newspapers, on radio braodcasts and television broadcasts. It includes items such as Lottery

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