Planning Permission
Permission granted by authorities to use land for specific purposes, often increasing land values when transferred to more profitable uses.
Plough-back
The system of financing investment in firms by retaining profits
Point Elasticity
The ratio of a proportional change in one variable to that of another, measured at a specific point.
Polarization - Definition and Meaning
An economic term referring to the process where middle-class jobs requiring moderate levels of skill decrease relative to low-paid and well-paid jobs.
Policy Coordination
An exploration of the collaborative effort of policy-making among multiple entities, primarily countries, to achieve better economic outcomes by addressing externality effects.
Political Business Cycle
An analysis of the theory that governments manipulate the economy for political advantage, leading to specific economic fluctuations.
Political Economy
An exploration of political economy, its historical context, and major analytical frameworks.
Poll Tax
A lump-sum tax levied on every citizen at the same rate regardless of income or wealth, inherently regressive in nature.
Polluter Pays Principle
The principle that requires the polluting party to bear the costs associated with mitigating pollution, in line with the damage caused to society or the level of pollution exceeding acceptable standards.
Pollution
Damage to the environment by the emission of noxious substances, impacting air, water, and land surfaces.