Chapter1
Scarcity（缺乏）： 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 scare resources。
Equality： the property of distributing economic prosperity fairly among the members of society。
Opportunity cost(机会成本）: whatever must be given up to obtain some item.
Rational people： people who systematically and purpofully do the best they can to achieve their objectives.
Marginal changes(边际变量)：small incremental(增加的) adjustments to a plan of action.
Incentive： something that induces a person to act.
Market economy(市场经济):an economy that allocates resources through the decentralized decisions of many firms and houholds as they interact in markets for goods and rvices.
lungProperty rights（产权）: the ability of an individual to own and exerci control over scarce resources。
Market failure（市场失灵)：a situation in which a market left on its own fails to allocate resources efficiently。
Externality(外部性): the impact of one person’s actions on the well—being of a bystander.
Market power（市场势力）: the ability of a single economic actor（or a small group of actors） to have a substantial influence on market prices. 如：垄断 monopoly
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(起伏) in economic activity， such as employment and production.
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英语翻译在线翻译Chapter2
Circular-flow diagram（循环流动图)： a visual model of the economy that shows how dollars flow through markets among houholds and firms。
Production possibilities frontier（生产能力边界线)：a graph that shows the combination of output that the economy can possibly produce given the available factors of production and the available production technology。产出的组合 ，经济可能产生的可用因素的生产和现有的生产技术.
siri是什么Positive statements(实证表述)：claims that attempt to describe the world as it is.
Normative statements(规范表述）：claims that attempt to prescribe how the world should be.
Import：goods produced abroad and sold domestically.
ccpbExport：goods produced domestically and sold abroad。
Chapter3
Absolute advantage(绝对优势）: the ability to produce a good using fewer inputs than another producer.（比较的是生产量)
Comparative advantage（比较优势)：the ability to produce a good at a lower opportunity cost than another producer。（比较的是机会成本)
Chapter4
Market： a group of buyers and llers of a particular good or rvice.
home是什么意思
speCompetitive market(竞争市场)： a market in which there are many buyers and many llers so that each has a negligible(可以忽略的) impact on the market price。
Quantity demanded(需求量)：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(需求一览表）： a table that shows the relationship between the price of a good and the quantity demanded。(表格）
流氓的英文Demand curve： 如何与人沟通a graph of the relationship between the price of a good and the quantity demanded.（曲线）
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。
