AP课程经济学名词解释

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1、AP课程经济学名词解释AP课程经济学名词解释AP课程经济学名词解释据360教育集团介绍：给大家分享的AP课程微观经济学名词解释，希望对各位有所帮助。Pleasehighlightcriticalterms;=notimportantforexambutyoushouldknowChapterTwoDemand&Supplyutility-thebenefit,happiness,orsatisfactionexpectedfromachoiceoroption.marginalutility-thebenefit(satisfaction)receivedoranticipatedwhenan

2、additionalamountofanactivityisundertaken;usuallyusedwithmarginalopportunitycost.Usuallyfallsasquantityofaparticularactivityrises,accordingtotheLawofDiminishingReturns.lawofdiminishingmarginalutility-anexampleofthelawofdiminishingreturns(seeChapterTwo),whichsaysthataslargerquantitiesofagoodareconsume

3、d,thevalueofanadditionalormarginalamountwillfall.Inotherwords,marginalutilitydeclinesasconsumptiongoesup.Thisisonebasisforthelawofdemand.surplus-agreaterquantitysuppliedthanisdemanded,indicationofpriceaboveequilibrium;alsocalledexcesssupply.demand-therelationshipbetweenthepriceandquantitydemandedofa

4、good,allelsebeingheldconstant;demandisbasedonmarginalutility.*quantitydemanded-theamountofagoodthatbuyerswishtobuyataparticularprice.lawofdemand-therulethatsaysthatthedemandrelationshipisaninverseornegativeone(aspricerises,quantitydemandedfalls,allelsebeingheldconstant)elasticdemand-whenbuyersarever

5、yresponsetochangesinprice,duetotheavailabilityofsubstitutes.inelasticdemand-whenbuyersdonotrespondtochangesinprice,duetolackofsubstitutes.quantitysupplied-theamountofagoodthatsellerswishtosellataparticularprice.Giffengoods-goodforwhichthereisanupward-slopingdemandcurve(theoretical)Equilibriumpirce-p

6、riceatwhichquantitysuppliedequalsquantitydeanded*supply-therelationshipbetweenthepriceandquantitysuppliedofagood,allelsebeingheldconstant;therelationshipbetweentheamountofagoodofferedforsalebysellersandthepriceofthegood;supplyisbasedonmarginalopportunitycost.lawofsupply-statesthatthesupplyrelationsh

7、ipisadirectone(aspriceofagoodgetshigher,theamountofferedforsalewillincrease,allelsebeingheldconstant).priceceiling-amaximumpricesetbythegovernment;apricekeptbelowequilibrium,resultinginashortage.pricecontrols-pricessetbygovernment.pricefloor-aminimumpricesetbythegovernment;*market-thetotaloftradesandtradenegotiationsbetweenbuyersandsellersinwhichtheyexpresstheirdesires(reflectedinsupplyanddemand).*surplus-agreaterquantitysuppliedthanisdemanded,indicationofpriceaboveequilibrium;alsocalledexcesssupplyblackmarket-opportunityformutuallybeneficialbutillegaltransactions.