经济学原理名词解释英文版Word文件下载.docx
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theimpactofoneperson’sactionsonthewell-beingofabystander.
Marketpower:
theabilityofasingleeconomicactor（orsmallgroupofactors）tohaveasubstantialinfluenceonmarketprices.
Productivity:
thequantityofgoodsandservicesproducedfromeachhourofaworker’stime.
Inflation:
anincreaseintheoveralllevelofpricesintheeconomy.
Phillipscurve:
acurvethatshowstheshort-runtradeoffbetweeninflationandunemployment.
Businesscycle:
fluctuationsineconomicactivity,suchasemploymentandproduction.
CHAPTER2
Circular-flowdiagram:
avisualmodeloftheeconomythatshowshowdollarsflowthroughmarketsamonghouseholdsandfirms.
Productionpossibilitiesfrontier:
agraphthatshowsthecombinationsofoutputthattheeconomycanpossiblyproducegiventheavailablefactorsofproductionandtheavailableproductiontechnology.
Microeconomics:
thestudyofhowhouseholdsandfirmsmakedecisionsandhowtheyinteractinmarkets.
Macroeconomics:
thestudyofeconomy-widephenomena,includinginflation,unemployment,andeconomicgrowth.
Positivestatements:
claimsthatattempttodescribetheworldasitis.
Normativestatements:
claimsthatattempttoprescribehowtheworldshouldbe.
CHAPTER3
AbsoluteAdvantage:
thecomparisonamongproducersofagoodaccordingtotheirproductivity.
OpportunityCost:
whatevermustbegiventoobtainsomeitem.
ComparativeAdvantage:
thecomparisonamongproducersofagoodaccordingtotheiropportunitycost.
Imports:
goodsproducedabroadandsolddomestically.
Exports:
goodsproduceddomesticallyandsoldabroad.
CHAPTER4
Market:
agroupofbuyersandsellersofaparticulargoodorservice.
Competitivemarket:
amarketinwhichtherearemanybuyersandmanysellerssothateachhasanegligibleimpactonthemarketprice.
Quantitydemanded:
theamountofagoodthatbuyersarewillingandabletopurchase.
Lawofdemand:
theclaimthat,otherthingsequal,thequantitydemandedofagoodfallswhenthepriceofthegoodrises.
Demandschedule:
atablethatshowstherelationshipbetweenthepriceofagoodandthequantitydemanded.
Demandcurve:
agraphoftherelationshipbetweenthepriceofagoodandthequantitydemanded.
Normalgood:
agoodforwhich,otherthingsequal,anincreaseinincomeleadstoanincreaseindemand.
Inferiorgood:
agoodforwhich,otherthingsequal,anincreaseinincomeleadstoadecreaseindemand.
Substitutes:
twogoodsforwhichanincreaseinthepriceofonegoodleadstoanincreaseinthedemandfortheother.
Complements:
twogoodsforwhichanincreaseinthepriceofonegoodleadstoadecreaseinthedemandfortheother.
quantitysupplied:
theamountofagoodthatsellersarewillingandabletosell.
Lawofsupply:
theclaimthat,otherthingsequal,thequantitysuppliedofagoodriseswhenthepriceofthegoodrises.
Supplyschedule:
atablethatshowstherelationshipbetweenthepriceofagoodandthequantitysupplied.
Supplycurve:
agraphoftherelationshipbetweenthepriceofagoodandthequantitysupplied.
Equilibrium:
asituationinwhichthepricehasreachedthelevelwherequantitysuppliedequalsquantitydemanded.
Equilibriumprice:
thepricethatbalancesquantitysuppliedandquantitydemanded.
Equilibriumquantity:
thequantitysuppliedandthequantitydemandedattheequilibriumprice.
Surplus:
asituationinwhichquantitysuppliedisgreaterthanquantitydemanded.
Shortage:
asituationinwhichquantitydemandedisgreaterthanquantitysupplied.
Lawofsupplyanddemand:
theclaimthatthepriceofanygoodadjuststobringthesupplyanddemandforthatgoodintobalance.
CHAPTER5
Elasticityameasureoftheresponsivenessofquantitydemandedorquantitysuppliedtooneofitsdeterminants.
Priceelasticityofdemand:
ameasureofhowmuchthequantitydemandedofagoodrespondstoachangeinthepriceofthatgood,computedasthepercentagechangeinquantitydemandeddividedbythepercentagechangeinprice.
Incomeelasticityofdemand:
ameasureofhowmuchthequantitydemandedofagoodrespondstoachangeinconsumers’income,computedasthepercentagechangeinquantitydemandeddividedbythepercentagechangeinincome.
Cross-priceelasticityofdemand:
ameasureofhowmuchthequantitydemandedofonegoodrespondstoachangeinthepriceofanothergood,computedasthepercentagechangeinthequantitydemandedofthefirstgooddividedbythepercentagechangeinthepriceofthesecondgood.
Priceelasticityofsupply:
ameasureofhowmuchthequantitysuppliedofagoodrespondstoachangeinthepriceofthatgood,computedasthepercentagechangeinquantitysupplieddividedbythepercentagechangeinprice.
CHAPTER6
Priceceiling:
alegalmaximumonthepriceatwhichagoodcanbesold.
Pricefloor:
alegalminimumonthepriceatwhichagoodcanbesold.
Taxincidence:
themannerinwhichtheburdenofataxissharedamongparticipantsinamarket.
CHAPTER7
Welfareeconomics:
thestudyofhowtheallocationofresourcesaffectseconomicwell-being.
Willingnesstopay:
themaximumamountthatabuyerwillpayforagood.
Consumersurplus:
abuyer’swillingnesstopayminustheamountthebuyeractuallypays.
Cost：
thevalueofeverythingasellermustgiveuptoproduceagood.
Producersurplus:
theamountasellerispaidforagoodminustheseller’scost.
Efficiency:
thepropertyofaresourceallocationofmaximizingthetotalsurplusreceivedbyallmembersofsociety.
fairnessofthedistributionofwell-beingamongthemembersofsociety.
CHAPTER8
Deadweightloss:
thefallintotalsurplusthatresultsfromamarketdistortion,suchasatax.
CHAPTER9
Worldprice:
thepriceofagoodthatprevailsintheworldmarketforthatgood.
Tariff:
ataxongoodsproducedabroadandsolddomestically.
Importquota:
alimitonthequantityofagoodthatcanbeproducedabroadandsolddomestically.
CHAPTER10
theuncompensatedimpactofoneperson’sactionsonthewell-beingofabystander.
Internalizinganexternality:
alteringincentivessothatpeopletakeaccountoftheexternaleffectsoftheiractions.
Coasetheorem:
thepropositionthatifprivatepartiescanbargainwithoutcostovertheallocationofresources,theycansolvetheproblemofexternalitiesontheirown.
Transactioncosts:
thecoststhatpartiesincurintheprocessofagreeingandfollowingthroughonabargain.
Pigoviantax:
ataxenactedtocorrecttheeffectsofanegativeexternality.
CHAPTER11
Excludability:
thepropertyofagoodwherebyapersoncanbepreventedfromusingit.
Rivalry:
thepropertyofagoodwherebyoneperson’susediminishesotherpeople’suse.
Privategoods:
goodsthatarebothexcludableandrival.
Publicgoods:
goodsthatareneitherexcludablenorrival.
Commonresources:
goodsthatarerivalbutnotexcludable.
Freerider:
apersonwhoreceivesthebenefitofagoodbutavoidspayingforit.
Cost-benefitanalysis:
astudythatcomparesthecostsandbenefitstosocietyofprovidingapublicgood.
Tragedyofthecommons:
aparablethatillustrateswhycommonresourcesgetusedmorethanisdesirablefromthestandpointofsocietyasawhole.
CHAPTER12
Totalrevenue:
theamountafirmreceivesforthesaleofitsoutput.
Totalcost:
themarketvalueoftheinputsafirmusesinproduction.
profit:
totalrevenueminustotalcost.
explicitcosts:
inputcoststhatrequireanoutlayofmoneybythefirm.
Implicitcosts:
inputcoststhatdonotrequireanoutlayofmoneybythefirm.
Economicprofit:
totalrevenueminustotalcost,includingbothexplicitandimplicitcosts.
Accountingprofit:
totalrevenueminustotalexplicitcost.
Productionfunction:
therelationshipbetweenquantityofinputsusedtomakeagoodandthequantityofoutputofthatgood.
Marginalproduct:
theincreaseinoutputthatarisesfromanadditionalunitofinput.
Diminishingmarginalproduct:
thepropertywherebythemarginalproductofaninputdeclinesasthequantityoftheinputincreases.
Fixedcosts:
coststhatdonotvarywiththequantityofoutputproduced.
Variablecosts:
coststhatdovarywiththequantityofoutputproduced.
Averagetotalcost:
totalcostdividedbythequantityofoutput.
Averagefixedcost:
fixedcostsdividedbythequantityofoutput.
Averagevariablecost:
variablecostsdividedbythequantityofoutput.
Marginalcost:
theincreaseintotalcostthatarisesfromanextraunitofproduction.
Efficientscale:
thequantityofoutputthatminimizesaveragetotalcost.
Economiesofscale:
thepropertywherebylong-runaveragetotalcostfallsasthequantityofoutputincreases.
Diseconomiesofscale:
thepropertywherebylong-runaveragetotalcostrisesasthequantityofoutputincreases.
Constantreturnstoscale:
thepropertywherebylong-runaveragetotalcoststaysthesameasthequantityofoutputchanges.
CHAPTER13
amarketwithmanybuyersandsellerstradingidenticalpr
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