backward supply curve for labour

backward supply curve for labour

(ECONOMICS) a situation in which an increase in the rate of pay reduces, rather than increases, the willingness to work extra hours. For example, peasants in a traditional economy or students working part-time during a degree course, may have ‘target incomes’, required to supplement income from land or from a grant or loan, and thus choose to work fewer hours as the rate of pay increases.
Full browser ?