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basing point pricing (L2)<br />A system of uniform pricing which includes a transport charge for delivery from an arbitrarily chosen geographical base. In the USA, it was first used to sell steel at Pittsburgh prices plus freight charges from Pittsburgh to consumers (hence the name 'Pittsburgh-Plus' for the system). The system has also been used in Europe, including the UK cement industry. ANTITRUST and COMPETITION POLICIES have long condemned this departure from price competition. This practice distorts the location choices of firms as they are charged less than actual freight charges in some places but in others have to pay for phantom journeys.<br /><em>See also:</em> Robinson-Patman Act 1936
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development planning (02)<br />The USe of CENTRAL PLANNING in Third World countries as a route to economic development. The earliest plans were carried out before and after the Second World War in British, French, Belgian and Portuguese colonies. These plans included a crash investment programme, especially in the public sector, and a commitment to rapid industrialization.
<strong>Economic hardship</strong> – A period during which the borrower is working full time but is earning an amount that does not exceed the greater of the minimum wage or the poverty line for a family of two. Economic hardship also exists if a borrower' s monthly payments on federal student loans are equal to or greater than 20 percent of his/her monthly income.
baby-boom period (Jl)<br />The 1970s when persons who were born in the high-birth-rate period following the Second World War became adults.
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