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

Category: P

PAYLOAD

The revenue while producing loan is known as the payload.

PCE DEFLATOR

An indicator used in the United States, for calculating the increase in average pricing for all domestic personal consumption. It is taken from the largest component of the GDP.

PENAL CODE

A compiled list that describes and defines all of the offenses, as well as the law which ca nbe applied and the punishments that can be given.

PERCEIVED QUALITY

The opinion of a consumer as to the quality of a certain product. It does not determine the actual quality of the product, just the customer’s opinion of it.

PERFECT COMPETITION

An economic term for a market in which there are lots f buyers and sellers, depicting little individual control over the prices. Other characteristics include the fact that all buyers and sellers

PERIODIC AVERAGE

A standard method used to calculate inventory costs, by making use of an average.

PERL

PERL is a programming language which is used to create applications and programs that focus heavily upon Computer Graphics Interaction. A number of different tasks can be handled by PERL. The language

PERSONAL EQUITY

Retaining a part of an employee’s equity. It is usually recognized on the financial statement of the company.

PERSONALLY IDENTIFIABLE INFORMATION (PII)

Specific information that can be used to identify a person. Includes important information such as the name of the person, their place of residence, social security numbers, etc.

PETROLEUM

A term used commonly for natural gas and crude oil. It is used primarily as fuel for automobiles, jets and a variety of other types of engines. Usually derived from oil fields.

PHYSICAL AND MOTOR ABILITY TESTS

A recruitment method used to test the physical skills of an individual. For instance, the movement speed of the arm, reaction times as well as the right use of fingers is tested.

PIECE PART

A single component that can be used after being assembled, or being disassembled too. Examples include transistor, relay, etc.

PINK SLIP PARTY

A party of different persons who are expecting to have their jobs terminated. The main purpose of a pink slip party is to provide people with a network to gain other jobs.

PLAIN LANGUAGE LAW

Any law that can be depicted through the use of simple language, making it much easier to understand.

PLATE

A finalized metal product, rolled flatly, having a breadth to a maximum of 48 inches, and exhibiting thickness less than 12 inches.

PNEUMATIC

Any hardware or mechanism, which is deisnged to be manipulated, powered and used through gas and air pressure.

POINT OF SERVICE PLAN

A mmethod which gives liberty to the patient to choose whether a participating indivuda or a non- participating one.

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