微观经济学英文版名词解释超详细

微观经济学名词解释

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Chapter 1

business

fluctuations in economic activity, such as employment and

cycle 经

production

济周期

economics经济学;

the study of how society manages its scarce缺乏的，罕见的

经济，国家

resources

的经济状况

efficiencyn.功效; 效率，效

the property of society getting the most it can from its scarce

能; 实力，

resources

能力; [物] 性能;

equalityn.同等，平

the property of distributing economic prosperity uniformly

等; [数]

among the members of society

相等，等式;

externalit

y[,ekst??the uncompensated impact of one person’s actions on the 'n?l?t?]外well-being of a bystander旁观者; 局外人; 看热闹的人 部性

incentive something that induces a person to act

Inflation[?

an increase in the overall level of prices in the economy

n'fle??(?)n] marginal

small incremental增加的 adjustments to a plan of action

changes

market an economy that allocates resources through the

decentralized 权力分散; 人口疏散; 密度分散;decisions of economy

many firms and households as they interact in markets for goods and services market failure market power

a situation in which a market left on its own fails to allocate分配，分派; 把…拨给;英[??l?ke?t] resources efficiently the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices

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opportun

whatever must be given up to obtain some item

ity cost

productithe quantity of goods and services produced from each unit of

labor input vity

Chapter 2

circular-flow a visual model of the economy that shows how dollars flow

through markets among households 家庭; 家庭，户and diagram

firms macroecono

mics [,m?krthe study of economy-wide phenomena, including inflation, ??i?k?'n?m?unemployment, and economic growth ks; -ek-]

microecono

the study of how households and firms make decisions

mics [,ma?kr?

and how they interact in markets

?i?k?'n?m?ks

normative['n

??m?t?v]标准claims that attempt to prescribe定，规定; 指定，规定;美的 [pr??skra?b] how the world should be statements

positive

claims that attempt to describe the world as it is

statements

production

a graph that shows the combinations of output that the

possibilities

economy can possibly produce given the available factors

frontier

of production and the available production technology

['fr?nt??）

Chapter 3

absolute

the ability to produce a good using fewer inputs than another

advantag

producer

e

comparati

the ability to produce a good at a lower opportunity cost than ve

advantaganother producer e

exports goods produced domestically美[d?'mest?kl?】合乎国内的and sold

abroad imports goods produced abroad and sold domestically opportuni

whatever must be given up to obtain some item

ty cost

Chapter 4

competitia market with many buyers and sellers['sel?] trading identicalve market 同一的，完全相同的美[a??d?nt?k?l] products so that each

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完全竞争buyer and seller is a price taker

市场

Complements互补

品

two goods for which an increase in the price of one leads to a

['kɑmpl?m?decrease in the demand for the other

nt] demand curve 需a graph of the relationship between the price of a good and 求曲线

the quantity demanded

demand

schedule

a table that shows the relationship between the price of a

需求表

good and the quantity demanded

Equilibriu

m[,ikw?'l?a situation in which the market price has reached the level at br??m] which quantity supplied equals quantity demanded 均衡

equilibriu

m price

the price that balances quantity supplied and quantity

均衡价格

demanded

equilibriu

m

the quantity supplied and the quantity demanded at the

quantity equilibrium price

inferior good a good for which, other things equal, an increase in income 劣质品 [?leads to a decrease in demand

n'f??r??]

law of

demand

the claim that, other things equal, the quantity demanded of a

需求原理

good falls when the price of the good rises

law of

supply

the claim that, other things equal, the quantity supplied of a

供给原理

good rises when the price of the good rises

law of

supply

the claim that the price of any good adjusts to bring the

and

quantity supplied and the quantity demanded for that good

demand into balance

market a group of buyers and sellers of a particular good or service normal a good for which, other things equal, an increase in income good

leads to an increase in demand

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普通商品

quantity

demande

the amount of a good that buyers are willing and able to

d 需求量

purchase

quantity

supplied

the amount of a good that sellers are willing and able to sell

shortage a situation in which quantity demanded is greater than

quantity supplied substitutetwo goods for which an increase in the price of one leads to

s an increase in the demand for the other supply

a graph of the relationship between the price of a good and curve

the quantity supplied

supply

a table that shows the relationship between the price of a schedule good and the quantity supplied

surplus a situation in which quantity supplied is greater than quantity ['s?:pl?s] demanded

Chapter 5

cross-price

elasticity a measure of how much the quantity demanded of one good of

responds to a change in the price of another good, computed demand as the percentage change in quantity demanded of the first 需求交叉good divided by the percentage change in the price of the 弹性是需second good

求交叉价格弹性

elasticity[,il?'st?s?ti]

n弹性; 弹

. 力; 灵活

a measure of the responsiveness of quantity demanded or

性; 伸缩quantity supplied to one of its determinants

性;

income a measure of how much the quantity demanded of a good elasticity responds to a change in consumers’ income, computed as the

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