- par|i|ty
- par|i|ty1 «PAR uh tee», noun, plural -ties.1. similarity or close correspondence with regard to state, position, condition, value, quality, or degree; equality: »
To try to achieve parity in conventional weapons would mean such a regimentation of our industry and manpower (Bulletin of Atomic Scientists).
2. U.S. a balance between the market prices for farmers' commodities and their gross expenditures. Parity is calculated to maintain the price of farmers' products at a level equal in purchasing power to that of the base period from 1910 to 1914, adjusted to an average price of a later ten-year period. »If the index number of prices received equals the index number of prices paid, prices are at parity (John H. Frederick).
3. Finance. a) equivalence in value in the currency of a foreign country. b) equivalence in value at a fixed ratio between moneys of different metals.4. (in quantum mechanics) the behavior of a wave function in an atomic or other physical system when it is reflected to form its mirror image. If the sign of the function remains unchanged, parity is even; if the sign is changed, parity is odd.╂[< Latin paritās < pār, paris equal]par|i|ty2 «PAR uh tee», noun.Medicine. the condition of being parous; fact of having borne children.╂[< Latin parere to give birth + English -ity]
Useful english dictionary. 2012.