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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 economi cs 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
2、resources equalityn.同等，平 等; 数 相等，等 式; the property of distributing economic prosperity uniformly among the members of society externality,ekst nl t 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 Inf
3、lation nfle ( )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 m
4、arkets for goods 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 opportun ity cost whate
5、ver must be given up to obtain some item producti vity 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
6、can to achieve their 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 macroecono mics ,mkri k n m ks; -ek-the study of economy-wide phenomena, in
7、cluding inflation, unemployment, and economic growth microecono mics ,ma kri k n m ksthe study of how households and firms make decisions and how they interact in markets normativen m t v标准标准的的 statements claims that attempt to prescribe 定，规定; 指定，规定;美 prskrab how the world should be positive stateme
8、nts claims that attempt to describe the world as it is production possibilities frontier fr nt）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 advantag e the abil
9、ity to produce a good using fewer inputs than another producer comparati ve advantag e 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 opportuni ty c
10、ost whatever must be given up to obtain some item Chapter 4 competiti ve market 完全竞争完全竞争 市场市场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 Complem ents 互补互补 品品 kmplm nt two goods for which an increase in the price o
11、f one leads to a decrease in the demand for the other demand curve 需需 求曲线求曲线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 需求表需求表good and the quantity demanded Equilibrium,ikw l brm均衡均衡a si
12、tuation in which the market price has reached the level at which quantity supplied equals quantity demanded equilibriu m price 均衡价格均衡价格the price that balances quantity supplied and quantity demanded equilibriu m quantity the quantity supplied and the quantity demanded at the equilibrium price inferi
13、or good劣质品劣质品 nfr a good for which, other things equal, an increase in income leads to a decrease in demand law of demand 需求原理需求原理the claim that, other things equal, the quantity demanded of a good falls when the price of the good rises law of supply供给原理供给原理 the claim that, other things equal, the q
14、uantity supplied of a good rises when the price of the good rises law of supply and 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 goo
15、d普通商品普通商品 a good for which, other things equal, an increase in income leads to an increase in demand quantity demande d 需求量需求量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 substitute s two goods for which an increase 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
