<p><strong>Noun</strong></p><ul><li>Equality, as in amount, status, or character.</li><li>Equivalence; correspondence; similarity; analogy: She and her brother always seemed like day and night to me, but I'm starting to see a real parity of nature between them.</li><li>Finance: equivalence in value in the currency of another country.</li><li>Equivalence in value at a fixed ratio between moneys of different metals.</li><li>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.</li><li>Also called intrinsic parity.</li><li>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.</li><li>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.</li><li>Computers: the condition of the number of items in a set, particularly the number of bits per byte or word, being either even or odd: used as a means for detecting certain errors.</li></ul>