Peppercorn rental

1) In leasing, when primary period of lease has ended lessor (who has recovered his costs, etc) may allow lessee to continue renting at very low (ie peppercorn) annual rental.

Pedestrian priority zone

1) An area (normally in a town or city centre) where space is reserved for pedestrians at the cost of other road users. Usually paved and with all vehicles prohibited except during specified times for delivery vehicle access.

Peak hours

1) The busy times of day for the transport network, particularly when people are travelling between home and work or vice versa. Usually measured in terms of the increased number of vehicle trips against the normal traffic flow.

PDM

1) Physical distribution management. The management concept/ function of total distribution. See also Logistics.

PCV

1) Passenger carrying vehicle. Term replacing public service vehicle (ie PSV), introduced in connection with EC-style unified driver licensing.

PC

1) Personal computer. Small computer used by an individual as opposed to large, company-owned and operated machines. Often used by enthusiasts (ie computer buffs) as well as small businesses/schools, etc.