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Definitions
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Definitions
Primary Sector
Economics
Primary Sector
Natural Resources
The sector of an economy making direct use of natural resources including agriculture, forestry, fishing, mining, and extraction of oil and gas.
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Definitions
Prime Rate
Prime Rate
Interest Rates
Banking
A reference interest rate used by banks to determine the lending rates for their most creditworthy borrowers.
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Definitions
Principal
Economics
Principal-Agent Problem
Agency Theory
An explanation of the term 'principal' in economic and business contexts, including the principal-agent relationship.
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Definitions
Principal Components Analysis
Economics
Statistics
Dimensionality Reduction
Data Analysis
An analytical technique for dimensionality reduction in multivariable datasets through identifying principal components.
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Definitions
Principal–Agent Problem
Principal–Agent Problem
Economics
Incentives
Contract Theory
Mechanism Design
The dilemma of motivating an agent to act on behalf of a principal when both parties follow their own self-interests.
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Definitions
Prior
Bayesian Econometrics
Probability Distribution
Bayesian Inference
The initial value or probability distribution attached to a parameter in Bayesian econometrics.
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Definitions
Prisoners’ Dilemma
Game Theory
Economics
Prisoners' Dilemma
Strategic Decision Making
A two-player game illustrating the conflict between private and social incentives, and the importance of binding commitments.
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Definitions
Private Benefit
Economics
Private Benefit
Market Efficiency
The benefit arising to a single individual from an economic activity.
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Definitions
Private Company - Definition and Meaning
Private Company
Corporations
Business Structure
An explanation of the concept of a private company, focusing on its nature, structure, and restrictions as defined primarily in the UK context.
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Definitions
Private Enterprise
Private Enterprise
Economics
Market Economy
Capitalism
Definition and exploration of the term 'private enterprise' and its implications in the economic and political spheres.
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Definitions
Private Finance Initiative (PFI)
Private Finance Initiative
PFI
Public Private Partnership
PPP
Infrastructure
An overview of Private Finance Initiative (PFI) and its relation to Public-Private Partnerships (PPPs).
Read more about Private Finance Initiative (PFI).
Definitions
Private Good
Economics
Private Good
Goods and Services
Definition and meaning of the term 'private good' in economics
Read more about Private Good.
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Economics Terms Lexicon
Ultimate Dictionary of Economics and Beyond.
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