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

Category: P

POINT AND FIGURE (P&F) CHART

A chart which is made to show the fluctuations in bond prices, prices of commodities, stocks and the like. Time is ignored in this chart. The primary focus lies on changes. Hence,

POISSON DISTRIBUTION

A probability distribution method which expresses the probability of events per unit time. In contrast to normal distribution, Poisson is asymmetrical, tilting towards the left side of the median. It is primarily

POLLUTION PREVENTION

Methods of identifying, decreasing or eliminating activities that are responsible for causing pollution within the environment.

POPULATION GROWTH

The increase in the number of people that reside within a state or country. The formula used to calculate growth is (death rate + emigration) (birth rate + immigration). TLD Example: The census

PORTFOLIO MANAGEMENT

Management of different investment vehiclesthat are chosen on the foundations of proper investment objectives, such as capital enhancement, income, etc.

POSITIVE LAW

Legislature that consists of guidelines, statutes and codes which are imposed upon a country. It is dissimilar to natural law.

POSTRETIREMENT BENEFITS

Compensation or extra funds that are allocated to a person’s account for the services they rendered to any institution or organization, once they have stopped working.

PRECISE

Close to a certain point; minutely exact.

PREFEASIBILITY STUDY

When large projects are to be constructed, a prefeasibility study is carried out in order to decide whether or not the project will be worth proceeding with or not.

PREMATURITY

A situation in which the claim launched by the plaintiff hasn’t fully grown to become an actual claim.

PRE-MONEY VALUATION

The evaluation of the value of a firm, before it is sold. Valuation is done by issuing new shares, and then multiplying the price to earnings ratio by the periodic earnings of

PACKAGE TOUR

A packaage trip is a trip that combines the whole tour, ranging from air fares, hotel stays, guides, trips, return tickets, etc., all of which is offered at a certain price.

PAID CLAIMS LOSS RATIO

The paid claims loss ratio is the ratio which is calculated by dividing the total praims with the paid claims.

PANEL DATA

All of the data that is generated by taking a number of different samples which cover a larger set of units.

PARADOR

Any inn, hotel or lodge whose ownership lies with a government agency. It is commonly converted to a monastery, castle or a palace.

PARETO OPTIMUM

A condition in which economic efficiency reaches a state where no one can be made better off by making someone else worse off. It is also commonly known as the Pareto Optimality

PARTICULATE MATTER

Very tiny, solid or liquid particles that reside in air. Common examples include mist, smoke, dust, etc. Their densities, shape, electrical charge and color might vary.

PASSIVE FOREIGN INVESTMENT CORPORATION (PFIC)

A company foreign to the United States, which makes most of its money through investments. It must pass the Asset Test or the Income Test. Usually, investors follow differing regulations regarding the

PAST SERVICE BENEFIT

Benefits provided to the employee for his services before his pension, or retirement plan was started.

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