Inflected forms: pl. par·i·ties 1. Equality, as in amount, status, or value. 2. Functional equivalence, as in the weaponry or military strength of adversaries: “A problem that has troubled the U.S.-Soviet relationship from the beginning has been the issue of parity” (Charles William Maynes). 3. The equivalent in value of a sum of money expressed in terms of a different currency at a fixed official rate of exchange. 4. Equality of prices of goods or securities in two different markets. 5. A level for farm-product prices maintained by governmental support and intended to give farmers the same purchasing power they had during a chosen base period. 6.Mathematics The even or odd quality of an integer. If two integers are both odd or both even, they are said to have the same parity; if one is odd and one even, they have different parity. 7.abbr.PPhysicsa. An intrinsic symmetry property of subatomic particles that is characterized by the behavior of the wave function of such particles under reflection through the origin of spatial coordinates. b. A quantum number, either +1 (even) or -1 (odd), that mathematically describes this property. 8.Computer Sciencea. The even or odd quality of the number of 1's or 0's in a binary code, often used to determine the integrity of data especially after transmission. b. A parity bit.
ETYMOLOGY:
French parité, from Old French parite, from Late Latin parits, from pr, par-, equal. See pair.
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