Primary Market
Definition and detailed analysis of the primary market in financial economics.
Privatization
The transfer to private ownership and control of assets or enterprises which were previously under public ownership.
Personal Equity Plan (PEP)
A UK system, established in 1986, allowing tax-free investments in shares and unit trusts.
Private Cost
The cost incurred by individuals or firms to provide goods or services, excluding external harms unless legally obligated.
Population Trap
A scenario where rapid population growth hinders any improvement in living standards due to the necessity of all available savings to maintain the current capital–labour ratio.
Par Value
The stated or face value of a financial security.
Peril Point
A point below which any further reduction in a tariff would cause serious damage to a domestic industry.
Peso Problem
The tendency in countries with a history of high inflation for interest rates to remain higher than abroad
Product Liability
Understanding the concept of product liability, its implications, and its applications in economics and law.
Progressive Tax
An overview of the progressive tax system where the tax burden rises more than proportionate to the income or ability to pay.
Property Company
A company whose principal activity is owning and developing property.
Public Expenditure Survey Committee
A UK government interdepartmental committee that reviewed expenditure plans, ceasing operation in 1984.