What is the meaning of "PARITY"?

The term "parity" is defined as the state or condition of being equal, especially in terms of status, amount, or value. In various contexts, such as economics, law, and social sciences, parity typically implies that two or more elements are on equal footing. This is vital in discussions about equity, where the goal is often to achieve parity among different groups or entities.

For example, in finance, achieving parity can mean that two investments have the same value or return. In gender discussions, addressing parity might focus on ensuring equal representation and treatment of different genders in various professional arenas. The emphasis on equality in status, amount, or value is the core idea inherent in the concept of parity, making it the correct interpretation of the term.

The other definitions provided suggest concepts of inequality or imbalance, which diverge from the fundamental meaning of parity as equal status or value.