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

Category: P

PESTICIDE RESIDUE

The substance that is left behind after pesticide application. The WHO states that it can include specified derivatives, such as metabolites and impurities which are known to have toxicological significance.

PHASED INTRODUCTION

A strategy used for implementation purposes, in which a certain product, policy, change or process is introduced slowly, replacing the older processes. Complete replacement does not take place immediately.

PHOTODEGRADABLE

Any substance/ material which can be broken down in to its constituent forms, due to the reaction that is caused when it comes in to contact with the UV rays of sunlight.

PICKETING

Picketing is the name given to the industrial action usually taken by workers of a trade union, known as pickets, who assemble in front of the company, or the home of the

PIGOU EFFECT

A concept of economicts, put forward by Arthur Cecil Pigou, a classical economist. The Pigou effect states that due to a significant decrease in the prices of proudcts, a ‘wealth effect’ would

PIVOT TABLE

A feature provided in various spreadsheet programs, allowing the spreadsheet to be view from a variety of different arrangements in order to depict the same data.

PLANT WALK THROUGH

A test carried out for plants in which each portion of the plant is carefuly defined and pondered upon, in order to check the coordination between the different materials.

PLUG AND PLAY (PNP)

Plug and Play is a term used for a feature in personal computers, which allows them to recognize any device that has been ‘plugged in’ to a computer. Examples include monitors, keyboards,

POINT OF SALE (POS)

A location at which the risks and rewards of a certain product are transferred from one person to another.

POLITICAL CONTROL

The control given through power of position held by influential political personnel. Might give them the authority to appoint an individual to an office, allow or refuse participation in any formal group

POLYNUCLEAR AROMATIC HYDROCARBONS (PAH)

A set of different compounds which are created from solid aromatic hydrocarbon anthracene. It generally consists of three differently fuzed rings of benzene, and is commonly applied for manufacturing dyes.

PORT OF EXPORT

The place where goods are departed from the country which is exporting them.

POSITION

The exposure of any investor who trades in securities or commodities, which is stated as the amount of items that he/ she owes.

POST OFFICE

An office built to dispatch and receive letters from any national or international location. On a general note, most post offices are regulated, finances and maintained by the federal government.

POTENTIAL OUTPUT

The projected GDP that can be produced if all the resources within an economy were put to full use.

PRE-APPROVAL

Any buyer who has a positive credit rating can be pre approved before they go home shopping. The lender generally checks the credit history before determining whether a loan should be granted

PREFERRED EQUITY

The total amount of profit, that is taken from the preferred stock of the company. The preferred equity does not take in to account any profit brought in through other investments.

PREMIUM LOAN

A loan that is given by the insured party to the insurer.

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