微观经济学中英文术语及其解释.doc

微观经济学中英文术语及其解释.doc

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Scarcitythelimitednatureofsociety’sresources

Economicsthestudyofhowsocietymanagesitsscarceresources

Efficiencythepropertyofsocietygettingthemostitcanfromitsscarceresources

Equitythepropertyofdistributingeconomicprosperityfairlyamongthemembersofsociety

Opportunitycostwhatevermustbegivenuptoobtainsomeitem

Marginalchangessmallincrementaladjustmentstoaplanofaction

Marketeconomyaneconomythatallocatesresourcesthroughthedecentralizeddecisionsofmanyfirmsandhouseholdsastheyinteractinmarketsforgoodsandservices

Marketfailureas/tuitioninwhichamarketleftonitsownfailstoallocateresourcesefficiently

Externalitytheimpactofoneperson’sactionsonthewell-beingofabystander

Marketpowertheabilityofasingleeconomicactor（orsmallgroupofactors）tohaveasubstantialinfluenceonmarketprices

Productivitythequantityofgoodsandservicesproducedfromeachhourofaworker’stime

Inflationanincreaseintheoveralllevelofpricesintheeconomy

Philipscurveacurvethatshowstheshort-runtradeoffbetweeninflationandunemployment

Businesscyclefluctuationsineconomicactivity，suchasemploymentandproduaion

Circular-flowdiagramavisualmodeloftheeconomythatshowshowdollarsflowthroughmarketsamonghouseholdsandfirms

Productionpossibilitiesfrontieragraphthatshowsthecombinationsofoutputthattheeconomycanpossiblyproducegiventheavailablefactorsofproductionandtheavailableproductiontechnology

Positivestatementsclaimsthatattempttododescribetheworldasitis

Normativestatementsclaimsthatattempttoprescribehowtheworldshouldbe

Absoluteadvantagethecomparisonamongproducersofagoodaccordingtotheirproductivity

Opportunitycostwhatevermustbegivenuptoobtainsomeitem

Comparativeadvantagethecomparisonamongproducersofagoodaccordingtotheiropportunitycost

Importsgoodsproducedabroadandsolddomestically

Exportsgoodsproduceddomesticallyandsoldabroad

Marketagroupofbuyersandsellersofaparticulargoodorservice

Competitivemarketamarketinwhichtherearemanybuyersandmanysellerssothateachhasanegligibleimpactonthemarketprice

Quantitydemandedtheamountofagoodthatbuyersarewillingandableto-purchase

Lawofdemandtheclaimthat,otherthingsequal,thequantitydemandedofagoodfallswhenthepriceofthegoodrises

Demandscheduleatablethatshowstherelationshipbetweenthepriceofagoodand-thequantitydemanded

Demandcurveagraphoftherelationshipbetweenthepriceofagoodandthequantitydemanded

Normalgoodagoodforwhich,otherthingsequal,anincreaseinincomeleadstoanincreaseindemand

Inferiorgoodagoodforwhich,otherthingsequal,anincreaseinincomeleads‘toadecreaseindemand

Substitutestwogoodsforwhichanincreaseinthepriceofoneleadstoanincreaseinthedemandfortheother

Complementstwogoodsforwhichanincreaseinthepriceofoneleadstoadecreaseinthedemandfortheother

Quantitysuppliedtheamountofagoodthatsellersarewillingandabletosell

Lawofsupplytheclaimthat,otherthingsequal,thequantitysuppliedofagoodriseswhenthepriceofthegoodrises

Supplyscheduleatablethatshowstherelationshipbetweenthepriceofagoodandthequantitysupplied

Supplycurveagraphoftherelationshipbetweenthepriceofagoodandthequantitysupplied

Equilibriumasituationinwhichthepricehasreachedthelevelwherequantitysuppliedequalsquantitydemanded

Equilibriumpricethepricethatbalancesquantitysuppliedandquantitydemanded

Equilibriumquantitythequantitysuppliedandthequantitydemandedattheequilibriumprice

Surplusasituationinwhichquantitysuppliedisgreaterthanquantitydemanded

Shortageasituationinwhichquantitydemandedisgreaterthanquantitysupplied

Lawsofsupplyanddemandtheclaimthatthepriceofanygoodadjuststobringthequantitysuppliedandthequantitydemandedforthatgoodintobalance

Elasticityameasureoftheresponsivenessofquantitydemandedorquantitysuppliedtooneofitsdeterminants

Priceelasticityofdemandameasureofhowmuchthequantitydemandedofagoodrespondstoachangeinthepriceofthatgood,computedastheepercentagechangeinquantitydemandeddividedbythepercentagechangeinprice

Incomeelasticityofdemandameasureofhowmuchthequantitydemandedofagoodrespondstoachangeinconsumers’income,computedasthepercentagechangetnquantitydemandeddividedbythepercentagechangeinincome

Cross-priceelasticityofdemandameasureofhowmuchthequantitydemandedofonegoodrespondtoachangeinthepriceofanothergood,computedasthepercentagechangemquantitydemandedofthefirstgooddividedbythepercentagechangeinthepriceofthesecondg