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]