（完整版）微观经济学（英文版）名词解释
微观经济名词解释全新版大学英语综合教程2答案
CHAPTER 1
Scarcity : the limited nature of society’s resources.
Economics : the study of how society manages its scarce resources.
Efficiency : the property of society getting the most it can from its scarce resources.
Equity : the property of distributing economic prosperity fairly among the members of society.
Opportunity cost : whatever must be given up to obtain some item.
Rational : systematically and purpofully doing the best you can to achieve your objectives.
Marginal changes : small incremental adjustments to a plan of action.
amorousIncentive : something that induces a person to act.
Market economy : an economy that allocates resources through the decentralized decisions of many firms and houholds as they interact in markets for goods and rvices.
Property rights : the ability of an individual to own and exerci control over scarce resources.
accommodativeMarket failure : a situation in which a market left on its own fails to allocate resources efficiently.
Externality : the impact of one person’s actions on the well-being of a bystander.
Market power : the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices.
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Productivity : the quantity of goods and rvices produced from each hour of a worker’s time.
Inflation : an increa in the overall level of prices in the economy.
Phillips curve : a curve that shows the short-run tradeoff between inflation and unemployment.
现状英文Business cycle : fluctuations in economic activity, such as employment and production.
CHAPTER 2
Circular-flow diagram : a visual model of the economy that shows how dollars flow through markets among houholds and firms.
Production possibilities frontier : a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.
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Microeconomics : the study of how houholds and firms make decisions and how they interact in markets. Macroeconomics : the study of economy-wide phenomena, including inflation, unemployment, and economic growth.
Positive statements: claims that attempt to describe the world as it is.
Positive statements: claims that attempt to describe the world as it is.
doyouloveme是什么意思CHAPTER 4
Quantity demanded: the amount of a good that buyers are willing and able to purcha.
Law of demand: the claim that, other things equal, the quantity demanded of a good falls when the price of the good ris.
Demand schedule: a table that shows the relationship between the price of a good and the quantity demanded. Demand curve : a graph of the relationship between the price of a good and the quantity demanded.
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Normal good : a good for which, other things equal, an increa in income leads to an increa in demand. Inferior good : a good for which, other things equal, an increa in income leads to a decrea in demand.
Substitutes : two goods for which an increa in the price of one good leads to an increa in the demand for the other.
Complements : two goods for which an increa in the price of one good leads to a decrea in the demand for the other.
quantity supplied : the amount of a good that llers are willing and able to ll.
isLaw of supply : the claim that, other things equal, the quantity supplied of a good ris when the price of the good ris.
Supply schedule: a table that shows the relationship between the price of a good and the quantity supplied. Supply curve: a graph of the relationship between the price of a good and the quantity supplied.
Equilibrium : a situation in which the price has reached the level where quantity supplied equals quantity demanded.
Equilibrium price : the price that balances quantity supplied and quantity demanded.
Equilibrium quantit y : the quantity supplied and the quantity demanded at the equilibrium price.
Surplus : a situation in which quantity supplied is greater than quantity demanded.
Shortage : a situation in which quantity demanded is greater than quantity supplied.
Law of supply and demand : the claim that the price of any good adjusts to bring the supply and demand for that good into balance.
CHAPTER 5
Elasticity a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants.
Price elasticity of demand: a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price.
Total revenue: the amount paid by buyers and received by llers of a good, computed as the price of the good times the quantity sold.
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