Backward bendingRefers to a curve that reverses direction, usually if, after moving out away from an origin or axis, it then turns back toward it. The term is used most frequently to describe supply curves for which the quantity supplied declines as price rises above some point, as may happen in a labor supply curve, the supply curve for foreign exchange, or an offer curve.
Backward linkageBackward linkage
The use by one firm or industry of produced inputs from another firm or industry.
Normal backwardation theoryNormal backwardation theory
Holds that the futures price will be bid down to a level below the expected spot price.
In the futures market the price of a contract for future delivery of a commodity usually trades above the spot price because the owner of the contract is deemed to have the advantage of holding cash until the time of delivery and is assumed to be able to earn interest on that cash.Occasionally, however, the spot price actually exceeds the futures price. This is known as backwardation, or an inverted market.
Backward integrationBackward integration
Acquisition by a firm of its suppliers.
Backward compatibilityBackward compatibility
Compatibility with earlier versions of software. When referring to Web pages, it means the Web page has been coded so the appearance and functionality of the page will be acceptable when it is viewed on computers with older versions of popular browsers.