Finance. equivalence in value in the currency of another country. equivalence in value at a fixed ratio between moneys of different metals.
Physics. a property of a wave function, expressed as +1 or −1 and noting the relation of the given function to the function formed when each variable is replaced by its negative, +1 indicating that the functions are identical and −1 that the second function is the negative of the first. Also called intrinsic parity. a number +1 or −1 assigned to each kind of elementary particle in such a way that the product of the parities of the particles in a system of particles multiplied by the parity of the wave function describing the system is unchanged when particles are created or annihilated.
a system of regulating prices of farm commodities, usually by government price supports, to provide farmers with the same purchasing power they had in a selected base period.