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Absolute priority |
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Absolute priorityRule in bankruptcy proceedings requiring senior creditors to be paid in full before junior creditors receive any payment.Absolute priority Similar MatchesAbsolute form of purchasing power parityAbsolute form of purchasing power parityA theory that prices of products of two different countries should be equal when measured by a common currency. Also called the "law of one price." Absolute advantageAbsolute advantageThe ability to produce a good at lower cost, in terms of real resources, than another country. In a Ricardian model, cost is in term of only labor. Absolute advantage is neither necessary nor sufficient for a country to export a good. See comparative advantage. Rule of Absolute PriorityRule of Absolute PriorityA condition of bankruptcy proceedings under which junior (subordinated) claim holders can receive no payment until senior (priority) claim holders are paid in full. Absolute Physical LifeAbsolute Physical LifeThe period of use after which an asset has deteriorated to such an extent that it can no longer be used. Absolute advantageAbsolute advantageA person, company or country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another person, company or country. |
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