Definitions

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

P
Part-time employee A person whose job involves less than 30 hours a week.
Population All the people living in a particular country, region, place or area.
Postgraduate (a) An advanced level of education beyond completion of a bachelor’s degree, such as a master’s or doctorate degree. (b) A person studying at the postgraduate level.
Post-secondary education Further education undertaken after completion of high school.
Post-secondary institution Institution of higher education beyond the high school level, offering degree and certificate programs of study from one to five years in length, as well as postgraduate studies.
Prerequisites The previous education, training, experience, individual abilities, skills or qualifications that a person requires if he or she wants to undertake a particular program of study.
Primary industries Industries that involve the harvesting or extraction of natural resources. Examples of primary industries: fishing, logging, mining, oil and gas extraction, and agriculture.
Private sector The part of the economy that is not under direct government control. In general, private-sector businesses are funded by commercial profit, not by government funding.
Production process The steps involved in creating an industry’s final product. For example, in millworking, to make doors, the production process would include: sawing boards into pieces of wood that have the right dimensions gluing, nailing or screwing the pieces of wood together into a door sanding and painting or varnishing the door shipping it to a building supply firm where it is sold to a customer
Productivity A measure of the overall efficiency of the economy. Productivity can be improved through advances made in technology or through the more efficient use of labour or capital inputs. Labour productivity: The relationship between the amount of goods and services produced and the labour used.
Profession An occupation that requires specialized skills and advanced training.
Professional association An organization that represents members of a professional occupation and that may set educational and training standards and a professional designation.
Projection An anticipation of what would likely occur based on past trends modified to account for possible future changes. A projection should be viewed as one scenario that incorporates certain conditions that may not be the most likely to occur. See Forecast.
Public sector The part of the economy that involves central government. The public sector includes all the people and organizations (e.g., ministries, Crown corporations, health authorities, public schools and universities) that provide public goods and services, from highways and water and sewage facilities to health care and education.