economic backward

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• Backward induction — is the process of reasoning backwards in time, from the end of a problem or situation, to determine a sequence of optimal actions. It proceeds by first considering the last time a decision might be made and choosing what to do in any situation at …   Wikipedia

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• backward-sloping supply curve for labour — The preference for increased leisure over increased remuneration. Thus, when wage incentives are offered to improve productivity , labourers respond by working shorter hours to earn the same money rather than harder or longer to earn more money.… …   Dictionary of sociology

• Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

• economic planning — Use of government to make economic decisions with respect to the use of resources. In communist countries with a state planning apparatus, detailed and rigid planning results in a command economy; land, capital, and the means of production are… …   Universalium

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• backward — I (New American Roget s College Thesaurus) adj. retarded, slow, underdeveloped; third world; delayed, tardy; unwilling, loath, shy. See rear, unwillingness, lateness. II (Roget s IV) modif. 1. [To the rear] Syn. rearward, astern, behind, aback,… …   English dictionary for students

• economic traditionalism — See backward sloping supply curve for labour …   Dictionary of sociology