1、1微观经济学名词解释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 resour
2、ces equalityn.同等，平等; 数 相等，等式; the property of distributing economic prosperity uniformly among the members of society externality,ekstnlt外部性the uncompensated impact of one persons actions on the well-being of a bystander 旁观者; 局外人; 看热闹的人 incentive something that induces a person to act Inflation nfle
3、()n an increase 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 households as they interact in markets for go
4、ods and services market failure a situation in which a market left on its own fails to allocate 分配，分派; 把拨给;英lket 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 whatever must be giv
5、en up to obtain some item productivity the quantity of goods and services produced from each unit of labor input property rights the ability of an individual to own and exercise control over scarce resources rational people people who systematically and purposefully do the best they can to achieve t
6、heir objectives scarcity the limited nature of societys resources 2Chapter 2 circular-flow diagram a visual model of the economy that shows how dollars flow through markets among households 家庭; 家庭，户and firms macroeconomics ,mkriknmks; -ek-the study of economy-wide phenomena, including inflation, une
7、mployment, and economic growth microeconomics ,makriknmksthe study of how households and firms make decisions and how they interact in markets normativenmtv标准的 statements claims that attempt to prescribe 定，规定; 指定，规定;美prskrab how the world should be positive statements claims that attempt to describe
8、 the world as it is production possibilities frontier frnt）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 3Chapter 3 absolute advantage the ability to produce a good using fewer inp
9、uts than another producer comparative advantage the ability to produce a good at a lower opportunity cost than another producer exports goods produced domestically 美dmestkl 】合乎国内的 and sold abroad imports goods produced abroad and sold domestically opportunity cost whatever must be given up to obtain
10、 some item Chapter 4 competitive market 完全竞争市场a market with many buyers and sellerssel trading identical同一的，完全相同的美adntkl products so that each buyer and seller is a price taker Complements 互补品kmplmnt two goods for which an increase in the price of one leads to a decrease in the demand for the other
11、demand curve 需求曲线a graph of the relationship between the price of a good and the quantity demanded demand a table that shows the relationship between the price of a 4schedule需求表good and the quantity demanded Equilibrium,ikwlbrm均衡a situation in which the market price has reached the level at which qu
12、antity supplied equals quantity demanded equilibrium price 均衡价格the price that balances quantity supplied and quantity demanded equilibrium quantity the quantity supplied and the quantity demanded at the equilibrium price inferior good劣质品 nfr a good for which, other things equal, an increase in incom
13、e leads to a decrease in demand law of demand 需求原理the claim that, other things equal, the quantity demanded of a good falls when the price of the good rises law of supply供给原理 the claim that, other things equal, the quantity supplied of a good rises when the price of the good rises law of supply and
14、demand the claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balance 5market a group of buyers and sellers of a particular good or service normal good普通商品 a good for which, other things equal, an increase in income leads to an increa
15、se in demand quantity demanded 需求量the amount of a good that buyers are willing and able to 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 substitutes two goods for which an in
16、crease in the price of one leads to an increase in the demand for the other supply curve a graph of the relationship between the price of a good and the quantity supplied supply schedule a table that shows the relationship between the price of a good and the quantity supplied surplus s:plsa situatio
17、n in which quantity supplied is greater than quantity demanded Chapter 5 cross-price a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed 6elasticity of demand 需求交叉弹性是需求交叉价格弹性as the percentage change in quantity demanded of the first goo
18、d divided by the percentage change in the price of the second good elasticity,ilststi n.弹性; 弹力; 灵活性; 伸缩性;a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants income elasticity of demand 需求的收入弹性a measure of how much the quantity demanded of a good respo
19、nds to a change in consumers income, computed as the percentage change in quantity demanded divided by the percentage change in income price elasticity of demand 需求价格弹性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 cha
20、nge in quantity demanded divided by the percentage change in price 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 7供给的价格弹性percentage change in price
21、 total revenue (in a market)总收入; 总收益 the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold Chapter 6 price ceiling sila legal maximummksmm on the price at which a good can be sold price floor a legal minimum on the price at which a goo
22、d can be sold tax incidencensd()nsthe manner in which the burden of a tax is shared among participants in a market Chapter 7 consumerknsjum surplusthe amount a buyer is willing to pay for a good minus mans the amount the buyer actually pays for it 8spls消费者剩余cost the value of everything a seller must
23、 give up to produce a good efficiency the property of society getting the most it can from its scarce resources equality the property of distributing economic prosperity uniformly among the members of society producer surplus the amount a seller is paid for a good minus the sellers cost of providing
24、 it welfare economics the study of how the allocation 美lken分配，配给 of resources affects economic well-being willingness to pay 受益者负担the maximum amount that a buyer will pay for a good Chapter 8 Dead weight loss 无谓损失又为社会净损失the fall in total surplus 过剩的; 多余的s:rpls that results from a market distortion 变
25、形; 失真dstrn, such as a tax 9Chapter 9 tariff n.关税; 关税表; 价格表a tax on goods produced abroad and sold domestically world price the price of a good that prevails in the world market for that good Chapter 10 Coase theoremrm 科斯定理the proposition that if private parties can bargain without cost over the allo
26、cation of resources, they can solve the problem of externalities 外在性 on their own corrective tax 矫正税a tax designed to induce private decision makers to take account of the social costs that arise from a negative externality externality ,ekstnltn.外形; 外在性; 外部事物; （经济学名词）外部效应the uncompensated impact of
27、one persons actions on the well-being of a bystander 10internalizing the externality 内化altering incentivesnsntv so that people take account of the external effects of their actions transactiontrnzkn交易 costs the costs that parties incur in the process of agreeing to and following through on a bargain
28、 Chapter 11 club goods goods that are excludable but not rival in consumption common resources goods that are rival in consumption but not excludable 可排他的; 包括在外的; costbenefit analysis成本效益分析a study that compares the costs and benefits to society of providing a public good excludability ks,kludblt排the property of a good whereby a person can be prevented from using it
