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Accounting P
 
Packaging
Paid-up capital
Paper profit
Paper sizes - see Metric system
Parent company - see Subsidiary company
Part load
Part performance
Part-time work
Participating preference shares
Partner, active
Partner, general
Partner, infant
Partner, limited
Partner, nominal
Partner, sleeping
Partners, incoming and outgoing
Partnership
Partnership, assignment of share in
Partnership at will
Partnership, limited
Passenger coupon
Passengers’ luggage
Patent
Patent Office
Pawnbroker
Pay-back period
Pay control
Pay day
Pay freeze
Pay slip
Payment in advance
Payment in kind
Payroll
Payroll tax
Peak-load pricing
Pedlar
P.E.R.T
Penalty clause
Peppercorn rent
Per contra
Perfect competition
Perfecting the sight - see Bill of sight
Performance-related pay
Peril point
Period of gestation
Perishable goods
Perishing of goods
Perpetual inventory
Perpetual succession
Perquisites
Personal sector - see Private sector
Personnel management
Petties
Petty cash
Petty cashier
Piece-work
Physical capital
Phytosanitary measures
Picketing
Piracy
Planned investment
Planned obosolescence
Planning agreements
Plant hire
Plant purchase scheme
Plant registers
Plimsoll line - see Load Line
Plough-back
Ploughed-back profit
Point of sale
Political and charitable contributions
Poll
Port - see Larboard
Port clearance - see Exporters' declerations
Post entry - see Over entry certificate
Potential competition
Potential output
Power
Precedent, rule of - see Common Law
Preferential creditor
Preferential duty - see Tariffs
Preliminary expenses
Premium on a lease
Prepayments - see Payments in advance
Pre-preferential debts
Pre-tax profits
Present value - see Net present Value
President
Prestige advertising
Price
Price control
Price discrimination
Price fixing
Price leader
Price level, average
Price maintenance
Price-setter
Price squeeze
Price support (U.S.)
Price-taker
Price war
Primage
Primary commodity - see Commodity
Prime costs
Prime entry - see Customs final clearance
Prime entry, books of
Private carrier
Private company
Privateer
Privatization
Prize money
Pro forma invoice
Pro rata freight
Procuration
Process innovation
Producer goods
Producer's surplus
Product
Product differentiation
Product innovation
Product liability
Product life cycle
Product, marginal
Product-moment correlation coefficient
Product proliferation
Production, census of
Production, factors of
Production function
Production possibility curve
Production possibility frontier (PPF)
Production possibility set
Production set
Production subsidy
Production, theory of
Productivity bargaining
Productivity deal
Products, final
Products, joint
Professional body
Professional and Executive Recruitment
Professional valuation
Profit and loss account
Profit motive
Profit-related pay
Profit sharing
Profit-sharing arrangement
Profit warning
Programme evaluation and review technique (P.E.R.T.)
Promoter
Promotion
Property
Property company
Property developer
Property rights
Proposed dividends
Proprietorship
Protectionism
Provision
Provision for renewals
Provisional liquidator
Proxy
Public company - see Company, public
Public corporation
Public lending right (P.L.R.)
Public ownership
Public Private Partnership (PPP)
Public relations
Public sector
Public utilities
Purchase journal
Purchase tax
Purchaser
Purchaser for value
Purser
 

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Physical capital

 

Physical capital

Capital in the form of physical goods, either fixed capital or stocks and work in progress. Physical capital is contrasted with both financial and human capital. Financial capital includes both cash holdings of firms, and net trade credit extended to customers. Human capital includes both technical know-how, whether or not embodied in patents, and the skills of the workforce. The ability of economies to recover rapidly after wars and natural disasters is thought to indicate that physical capital is less important than human capital as a long-run determinant of productivity.   

 

Reference: Oxford Press Dictonary of Economics, 5th edt.