微观经济学-(英文版)
名词解释
微观经济名词解释
CHAPTER 1
英语二级成绩查询
Scarcity：the limited nature of society’s resources.
Economics：the study of how society manages its scarce resources.
新东方六级作文预测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.
英文翻译法文
Rational people：people who systematically and purpofully do the best they can to achieve their objectives.
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Marginal changes：small incremental adjustments to a plan of action.
Incentive：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. Market failure：a situation in which a market left on its own fails to allocate resources efficiently. Externality：the impact of one p erson’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.
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.
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.东莞网络营销培训
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.
Microeconomics：the study of how houholds and firms make decisions and how they interact in markets.
ctionalMacroeconomics：the study of economy-wide phenomena, including inflation, unemployment, and economic growth.
Positive statements：claims that attempt to describe the world as it is.
Normative statements：claims that attempt to prescribe how the world should be.
Chapter 3
Absolute advantage：the ability to produce a good using fewer inputs than another producer Opportunity cost：whatever must be given up to obtain some item
Comparative advantage：the ability to produce a good at a lower opportunity cost than another producer
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Exports：goods produced domestically合乎国内的and sold abroad
Imports：goods produced abroad and sold domestically
CHAPTER 4
Market：a group of buyers and llers of a particular good or rvice
Competitive market：a market in which there are many buyers and many llers so that each has a negligible impact on the market price
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.
教育学排名Demand curve：a graph of the relationship between the price of a good and the quantity demanded.
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.
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Quantity supplied：the amount of a good that llers are willing and able to ll.
Law 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 quantity：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.
Income lasticity of demand： a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as the percentage change in quantity demanded divided by the percentage change in income.
Crossprice elasticity of demand： a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in the quantity demanded of the first good divided by the percentage change in the price of the cond good.
Price elasticity of supply：a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in price.
CHAPTER 6
Price ceiling：a legal maximum on the price at which a good can be sold.
Price floor：a legal minimum on the price at which a good can be sold.
Tax incidence：the manner in which the burden of a tax is shared among participants in a market. CHAPTER 7
Welfare economics：the study of how the allocation of resources affects economic well-being. Willingness to pay：the maximum amount that a buyer will pay for a good.
Consumer surplus：a buyer’s willingness to pay minus the amount the buyer actually pays. Cost：the value of everything a ller must give up to produce a good.
Producer surplus：th e amount a ller is paid for a good minus the ller’s cost.
Eficiency：the property of a resource allocation of maximizing the total surplus received by all members of society.
Euity：fairness of the distribution of well-being among the members of society.
CHAPTER 10
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Externality：the uncompensated impact of one person’s actions on the well-being of a bystander.
