pay policy meaning, pay policy definition | English Cobuild dictionary

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  ( policies    plural  )
1       n-var   A policy is a set of ideas or plans that is used as a basis for making decisions, especially in politics, economics, or business.  
...plans which include changes in foreign policy and economic reforms., ...the UN's policy-making body.     
2       n-count   An official organization's policy on a particular issue or towards a country is their attitude and actions regarding that issue or country.  
usu poss N  
...the government's policy on repatriation., ...the corporation's policy of forbidding building on common land.     
3       n-count   An insurance policy is a document which shows the agreement that you have made with an insurance company.     (BUSINESS)   usu N n  
You are advised to read the small print of household and motor insurance policies.     

policy-making      , policymaking  
Policy-making is the making of policies.      n-uncount   oft N n  
He will play a key background role in government policy-making.     
Translation English Cobuild Collins Dictionary  
See also:

police, polity, poly, politic

Collaborative Dictionary     English Cobuild
right granted to a general assembly to give an opinion on the salaries and bonuses of top managers
unconventional monetary policy used by central banks to stimulate the national economy when conventional monetary policy has become ineffective.
to pay close attention to (someone or something)
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