The prices of goods and services provided by one part of any organization to another. This applies particularly to transactions between firms and their branches, subsidiaries or affiliates in other countries. It is possible by using suitable transfer prices to shift overall profits between different parts of the same business. This may be advantageous when tax rates and rules differ in different countries, as they invariably do. It may also be politically advantageous if profits in one country are more likely to attract criticism, or the attention of regulators, than equal profits in another. Where there is a competitive market in similar products, blatant cheating through transfer pricing can be detected, but where there are no arms-length prices for comparable transactions the determination of fair transfer prices is a real problem.

• public utility
• public works
• pump priming
• punishment strategy
• purchase tax
• purchasing power
• purchasing power parity
• pure floating exchange rate
• put option
• pyramid scheme
• q, Tobin's
• quadrant
• quadratic
• qualification of accounts
• quality control
• quality ladder
• quality standards
• quango
• quantity and price adjustment
• quantity demanded
• quantity discount
• quantity equation
• quantity of money
• quantity supplied
• quantity theory of money