Chapter 1 | |
business cycle 经济周期 | fluctuations in economic activity, such as employment and production |
economics经济学; 经济，国家的经济状况 | the study of how society manages its scarce缺乏的，罕见的 resources |
efficiencyn.功效; 效率，效能; 实力，能力; [物] 性能; | the property of society getting the most it can from its scarce resources |
equalityn.pink visual同等，平等; [数] 相等，等式excessive packaging; | the property of distributing economic prosperity uniformly among the members of society |
externality[,ekstɜː'nælɪtɪ]外部性 | vlccthe unpensated impact of one person’s actions on the well-being of a bystander旁观者; 局外人; 看热闹的人 |
incentive | 函授成绩查询something that induces a person to act |
Inflation [ɪn'fleɪʃ(ə)n] | an increa in the overall level of prices in the economy |
marginal changes | small incremental增加的 adjustments to a plan of action |
market economy | an economy that allocates resources through the decentralized 权力分散; 人口疏散; 密度分散;decisions of many firms and houholds as they interact in markets for goods and rvices |
rebecca tsangmarket failure | a situation in which a market left on its own fails to allocate分配，分派; 把ibm是什么意思…拨给;英[ˈæləkeɪt] resources efficiently |
market power | the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices |
opportunity cost | dully whatever must be given up to obtain some item |
productivity | the quantity of goods and rvices produced from each unit of labor input |
property rights | the ability of an individual to own and exerci control over scarce resources |
rational people | people who systematically and purpofully do the best they can to achieve their objectives |
scarcity | the limited nature of society’s resources |
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