The method of proving a sequence of statements by showing that if one particular case is true, the next must also be true; but it is true for the first, so it must be true for the rest. Consider for example the statement that the sum of the first N terms of a geometric progression a, ar, ar², etc. is given by S_N = a(r^N - 1)/(r - 1). This is clearly true for N = 1. Suppose it is true for N. The N + 1th term is ar^N. But 0198607679.proof-by-induction.1.jpg This is S_N with N + 1 substituted for N, so if the formula for S_N is correct for N it is correct for N + 1. But we know it is true for N = 1, so it must be true for all N ≥ 1.

• tender issue
• tend to infinity
• Tennessee Valley Authority
• tenure, security of
• term loan
• terms of trade
• term structure of interest rates
• TESSA
• test discount rate
• testing, hypothesis
• test, means
• tests of significance
• Thatcherism
• theory of X
• third-degree price discrimination
• third-party insurance
• third world
• threat, credible
• threshold
• thrift
• thrifts
• tied aid
• tied loan
• tigers, East Asian
• tight fiscal policy