微观经济学英文版名词解释超详细

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 resourc

2、es 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 goods

4、 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 given u

5、p 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 their

6、 objectives scarcity the limited nature of societys resources Chapter 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, unemploy

7、ment, 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 the w

8、orld 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 Chapter 3 absolute advantage the ability to produce a good using fewer inputs tha

9、n 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 some ite

10、m 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 demand cur

11、ve 需求曲线a graph of the relationship between the price of a good and the quantity demanded demand schedule需求表a table that shows the relationship between the price of a good and the quantity demanded Equilibrium,ikwlbrm均衡a situation in which the market price has reached the level at which quantity supp

12、lied 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 income leads to

13、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 demand the

14、claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balance market 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 increase in demand

15、 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 increase in th

16、e 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 situation in which q

17、uantity supplied is greater than quantity demanded Chapter 5 cross-price elasticity of demand 需求交叉弹性是需求交叉价格弹性a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in quantity demanded of the first good divided by

18、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 responds to a chan

19、ge 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 change in quanti

20、ty demanded divided by the percentage change in price price elasticity of supply 供给的价格弹性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 percentage change in price total revenue

21、 (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 good can be sold

22、tax incidencensd()nsthe manner in which the burden of a tax is shared among participants in a market Chapter 7 consumerknsjum surplusspls消费者剩余the amount a buyer is willing to pay for a good minus mans the amount the buyer actually pays for it cost the value of everything a seller must give up to pro

23、duce 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 it welfare eco

24、nomics 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变形; 失真dstrn, such a

25、s a tax Chapter 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 allocation of resources

26、, 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 one persons actions

27、 on the well-being of a bystander internalizing 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 Chapter 11 club good

28、s 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排他性the property of a good

29、whereby a person can be prevented from using it free rider 释义坐享其成，无本获利;a person who receives the benefit of a good but avoids paying for it private goods goods that are both excludable and rival in consumption public goods goods that are neither excludable nor rival in consumption rivalry in consump

30、tion消费竞争 the property of a good whereby one persons use diminishes other peoples use Tragedy of the Commons公共地悲剧 a parable寓言; 格言; that illustrates why common resources are used more than is desirable from the standpoint of society as a whole Chapter 12 ability-to-pay principle 释义负担能力原则，付税能力原则;the id

31、ea that taxes should be levied on a person according to how well that person can shoulder the burden average tax rate total taxes paid divided by total income benefits principle the idea that people should pay taxes based on the benefits they receive from government services budget deficit n.预算赤字;a

32、shortfall亏空; 缺空 of tax revenue from government spending budget surplus 预算结余an excess of tax revenue over government spending horizontal equity 纳税横向均等;the idea that taxpayers with similar abilities to pay taxes should pay the same amount lump-sum tax 总量税a tax that is the same amount for every person

33、marginal tax rate 边际税率the extra taxes paid on an additional dollar of income progressive tax 累进税a tax for which high-income taxpayers pay a larger fraction分数; 一小部分 of their income than do low-income taxpayers proportional tax 比例税率a tax for which high-income and low-income taxpayers pay the same frac

34、tion of income regressive tax 累退税a tax for which high-income taxpayers pay a smaller fraction of their income than do low-income taxpayers vertical equity 纵向公平the idea that taxpayers with a greater ability to pay taxes should pay larger amounts Chapter 13 accounting profit total revenue minus total

35、explicit清楚的，明确的 cost average fixed cost fixed cost divided by the quantity of output average total cost total cost divided by the quantity of output average variable cost variable cost divided by the quantity of output constant returns to scale the property whereby long-run average total cost stays

36、the same as the quantity of output changes diminishing marginal product 边际产量递减规律the property whereby the marginal product of an input declines as the quantity of the input increases diseconomies of scale 规模不经济the property whereby long-run average total cost rises as the quantity of output increases

37、economic profit total revenue minus total cost, including both explicit and implicit costs economies of scale 规模经济the property whereby long-run average total cost falls as the quantity of output increases efficient scale最小有效规模 the quantity of output that minimizes average total cost explicit costs i

38、nput costs that require an outlay of money by the firm fixed costs固定成本 costs that do not vary with the quantity of output produced implicit costs隐性成本 input costs that do not require an outlay of money by the firm marginal cost边际成本 the increase in total cost that arises from an extra unit of producti

39、on marginal product the increase in output that arises from an additional unit of input production function the relationship between the quantity of inputs used to make a good and the quantity of output of that good profit total revenue minus total cost total cost the market value of the inputs a fi

40、rm uses in production total revenue (for firm) the amount a firm receives for the sale of its output variable costs释义变动成本; costs that vary with the quantity of output produced Chapter 14 average revenue total revenue divided by the quantity sold competitive market a market with many buyers and selle

41、rs trading identical products so that each buyer and seller is a price taker marginal revenue the change in total revenue from an additional unit sold sunk cost 沉没成本a cost that has already been committed and cannot be recovered Chapter 15 monopolymnp()l a firm that is the sole seller of a product wi

42、thout close substitutes natural monopoly n.垄断; 专卖; 垄断者; 专利品;a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms price discrimination the business practice of selling the same good at different prices to differen

43、t customers Chapter 16 monopolistic competition垄断竞争市场 a market structure in which many firms sell products that are similar but not identical oligopoly 求过于供的市场情况;a market structure in which only a few sellers offer similar or identical products Chapter 17 cartel 卡特尔，企业联合a group of firms acting in un

44、ison juns()ncollusion an agreement among firms in a market about quantities to produce or prices to charge 卡特尔，企业联合a strategy that is best for a player in a game regardless of the strategies chosen by the other players game theory the study of how people behave in strategic situations GDP deflatordi

45、fleitGDP缩减指数 a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100 Nash equilibrium 纳什均衡a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen oligopoly,lgpli 寡头a market structure in which only a few sellers offer similar or identical products prisoners dilemma dlem囚徒困境”是19