(完整版)微观经济学名词解释双语版

2024年4月18日发(作者：)

(完整版)微观经济学名词解释双语版

微观经济名词解释

CHAPTER 1 Briefing

Scarcity : the limited nature of society's resources。

Economics ： the study of how society manages its scarce resources.

Efficiency ： the property of society getting the most it can from its scarce resources.

Equity ： the property of distributing economic prosperity fairly among the members of society.

Opportunity cost : whatever must be given up to obtain some item。

Rational : systematically and purposefully doing the best you can to achieve your objectives。

Marginal changes : small incremental adjustments to a plan of action。

Incentive ： something that induces a person to act。

Market economy : an economy that allocates resources through the decentralized decisions of

many firms and households as they interact in markets for goods and services。

Property rights ： the ability of an individual to own and exercise control over scarce resources。

Market failure ： a situation in which a market left on its own fails to allocate resources

efficiently。

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Externality ： the impact of one person’s actions on the well-being of a bystander.

Market power : the ability of a single economic actor （or small group of actors) to have a

substantial influence on market prices.

Productivity ： the quantity of goods and services produced from each hour of a worker's time.

Inflation : an increase in the overall level of prices in the economy.

Phillips curve : a curve that shows the short—run tradeoff between inflation and unemployment.

Business cycle ： fluctuations in economic activity， such as employment and production。

Circular—flow diagram ： a visual model of the economy that shows how dollars flow through

markets among households and firms。

Production possibilities frontier : 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.

Microeconomics : the study of how households and firms make decisions and how they interact

in markets。

Macroeconomics ： the study of economy—wide phenomena, including inflation,

unemployment, and economic growth.

Positive statements: claims that attempt to describe the world as it is。

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Positive statements： claims that attempt to describe the world as it is。

Invisibal hand

Economic man

Perfect information

Market clearing

CHAPTER 2 Supply—Demand Equilibrium

Quantity demanded： the amount of a good that buyers are willing and able to purchase.

Law of demand： the claim that, other things equal, the quantity demanded of a good falls when

the price of the good rises.

Demand schedule： a table that shows the relationship between the price of a good and the

quantity demanded。

Demand curve : a graph of the relationship between the price of a good and the quantity

demanded.

Normal good ： a good for which, other things equal, an increase in income leads to an increase

in demand。

Inferior good ： a good for which, other things equal， an increase in income leads to a decrease

in demand。

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Substitutes : two goods for which an increase in the price of one good leads to an increase in the

demand for the other.

Complements : two goods for which an increase in the price of one good leads to a decrease in

the demand for the other.

quantity supplied : the amount of a good that sellers are willing and able to sell.

Law of supply ： the claim that， other things equal, the quantity supplied of a good rises when

the price of the good rises。

Supply schedule： a table that shows the relationship between the price of a good and the

quantity supplied.

Supply curve: a graph of the relationship between the price of a good and the quantity supplied.

Equilibrium : a situation in which the price has reached the level where quantity supplied equals

quantity demanded。

Equilibrium price ： the price that balances quantity supplied and quantity demanded.

Equilibrium quantity : the quantity supplied and the quantity demanded at the equilibrium price.

Surplus : a situation in which quantity supplied is greater than quantity demanded.

Shortage ： a situation in which quantity demanded is greater than quantity supplied.

Law of supply and demand ： the claim that the price of any good adjusts to bring the supply

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and demand for that good into balance。

Price ceiling： a legal maximum 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。

Tax incidence: the manner in which the burden of a tax is shared among participants in a market。

Elasticity：a measure of the responsiveness of quantity demanded or quantity supplied to one of

its determinants。

Price elasticity of demand: 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 quantity demanded

divided by the percentage change in price。

Total revenue: the amount paid by buyers and received by sellers of a good， computed as the

price of the good times the quantity sold.

Income lasticity of demand: a measure of how much the quantity demanded of a good

responds to a change in consumers’ income, computed as the percentage change in quantity

demanded divided by the percentage change in income.

Crossprice elasticity of demand： 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 the

quantity demanded of the first good divided by the percentage change in the price of the second

good。

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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 percentage change in price。

Arc elasticity：弧弹性

Engel’s Coefficient

CHAPTER 3 Utility Theory

Cardinal utility theory

Ordinal utility theory

Consumer’s preference

Consumer’s equilibrium

Optimization

Budget constraints

marginal utility边际效用

additional unit of a good.

Total utility

Utility function

the change in utility an individual enjoys from consuming an is

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an indifference curve represents all combinations of two goods that make the consumer equally

well off。

the law of diminishing marginal returns边际收益递减规律 states that as we continue to add more

of any one input， its marginal product will eventually decline.

Consumer Surplus

Economic Well—Being

Marginal Rate of Substitution （MRS

XY

)

Law of Diminishing Marginal Rate of Substitution

Price—consumption curve

Income-consumption curve

Substitution ＆ Income Effects

Compensated Budget Line

Perfect substitutes

Perfect complements

Engel curve

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CHAPTER 4 Production Theory

Production function： the relationship between quantity of inputs used to make a good and

the quantity of output of that good.

Marginal product: the increase in output that arises from an additional unit of input。

Total product

Average product

Diminishing marginal product： the property whereby the marginal product of an input

declines as the quantity of the input increases。

Isoquants curves : showing all possible combinations of inputs that yield the same output

MRTS: It is the rate at which a firm is willing to trade one factor for another.

Law of Diminishing Marginal Rate of Technical Substitution

Isocost line

Producer Equilibrium： at the point where the highest isoquant curve and the isocost curve

are tangent。

Returns to Scale

Constant returns to scale denote a case where a change in all inputs leads to a proportional

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change in output.

Increasing returns to scale arise when an increase in all inputs leads to a

more-than—proportional increase in the level of output。

Decreasing returns to scale occur when a balanced increase of all inputs leads to a

less-than-proportional increase in total output。

CHAPTER 5 Cost Theory

Total revenue: the amount a firm receives for the sale of its output。

Total cost: the market value of the inputs a firm uses in production.

Profit ：total revenue minus total cost。

Economic profit： total revenue minus total cost， including both explicit and implicit costs.

Accounting profit: total revenue minus total explicit cost。

Explicit costs： input costs that require an outlay of money by the firm.

Implicit costs: input costs that do not require an outlay of money by the firm。

conomic cost：

Accounting cost:

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Opportunity cost

Sunk cost: a cost that has been committed and cannot be recovered。

Short run cost / Long run cost：

Total cost:

Fixed costs： costs that do not vary with the quantity of output produced.

Variable costs: costs that do vary with the quantity of output produced。

Average total cost： total cost divided by the quantity of output。

Average fixed cost： fixed costs divided by the quantity of output.

Average variable cost: variable costs divided by the quantity of output.

Marginal cost: the increase in total cost that arises from an extra unit of production。

Efficient scale: the quantity of output that minimizes average total cost.

Economies of scale： the property whereby long-run average total cost falls as the quantity

of output increases。

Diseconomies of scale： the property whereby long—run average total cost rises as the

quantity of output increases.

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Constant returns to scale: the property whereby long—run average total cost stays the same

as the quantity of output changes。

CHAPTER 6 Perfectly competitive market

Competitive market： a market with many buyers and sellers trading identical products so that

each buyer and seller is a price taker。

Average revenue： total revenue divided by the quantity sold.

Marginal revenue： the change in total revenue from an additional unit sold。

AR、MR、D coincide

MR=MC -maximize profit

Break Even Point

Shut down Point

Producer surplus

Constant Cost Industry

Increasing Cost Industry

Decreasing Cost Industry

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CHAPTER 7 Imperfectly competitive markets

Monopoly ：a firm that is the sole seller of a product without close substitutes。

Natural monopoly： 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.

Government-created monopoly

Because a monopoly firm is the sole producer in its market, it faces the downward-sloping

market demand curve

Price discrimination: the business practice of selling the same good at different prices to

different customers。

Monopolistic competition： a market structure in which many firms sell products that are similar

but not identical.

Oligopoly： a market structure in which only a few sellers offer similar or identical products。

Duopoly

Collusion: an agreement among firms in a market about quantities to produce or prices to

charge。

Carte: a group of firms acting in unison.

Nash equilibrium： a situation in which economic actors interacting with one another each

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choose their best strategy given the strategies that all the other actors have chosen。

Game theory: the study of how people behave in strategic situations。

Prisoners' dilemma: a particular "game" between two captured prisoners that illustrates why

cooperation is difficult to maintain even when it is mutually beneficial.

Dominant strategy: a strategy that is best for a player in a game regardless of the strategies

chosen by the other players。

CHAPTER 8 The factors of production markets

VMP=MP X P

PEP

CHAPTER 9 General equilibrium

Pareto efficient

Welfare economics: the study of how the allocation of resources affects economic well—being。

Willingness to pay： the maximum amount that a buyer will pay for a good。

Consumer surplus: a buyer's willingness to pay minus the amount the buyer actually pays.

Producer surplus： the amount a seller is paid for a good minus the seller’s cost。

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Eficiency： the property of a resource allocation of maximizing the total surplus received by all

members of society.

Equity : fairness of the distribution of well—being among the members of society。

CHAPTER 10 Market failure and Macroeconomic policies

Market failure：

Deadweight loss: the fall in total surplus that results from a market distortion， such as a tax.

Externality ：the uncompensated impact of one person’s actions on the well-being of a

bystander.

Internalizing an externality： altering incentives so that people take account of the external

effects of their actions.

Coase theorem: the proposition that if private parties can bargain without cost over the

allocation of resources, they can solve the problem of externalities on their own。

Transaction costs: the costs that parties incur in the process of agreeing and following through

on a bargain。

Excludability：the property of a good whereby a person can be prevented from using it。

Rivalry in consumption： the property of a good whereby one person’s use diminishes other

people's use.

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Private goods: goods that are both excludable and rival。

Public goods ：goods that are neither excludable nor rival.

Common resources： goods that are rival but not excludable。

Free rider: a person who receives the benefit of a good but avoids paying for it.

Cost-benefit analysis: a study that compares the costs and benefits to society of providing a

public good.

Tragedy of the commons: a parable that illustrates why common resources get used more than is

desirable from the standpoint of society as a whole。

asymmetry information

adverse selection

moral hazard

稀缺性:有限的社会资源的性质。

经济学:研究社会如何管理自己的稀缺资源.

效率:社会的财产得到最能从它的稀缺资源。

公平：经济繁荣相当的财产分配的社会成员。

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机会成本：无论必须放弃获得一些项目.

理性：系统地,有目的地做最好的你可以实现你的目标。

边际变化：小增量调整行动计划。

激励：东西诱发一个人采取行动。

市场经济：经济分配资源通过分散决策的许多企业和家庭在市场上相互作用对商品和服务。

产权：个体拥有的能力和运动控制稀缺资源。

市场失灵:情况:市场本身不能有效地分配资源

边际效用边际效用从消费效用的改变一个人享受一个额外的单位好.

总效用

效用函数

一个无差异曲线表示两种商品的所有组合，使消费者同样。

边际收益递减规律边际收益递减规律指出,随着我们继续任何一个输入的增加,其边际产品最终将下降。

竞争市场:市场上许多买家和卖家交易相同的产品，每一个买方和卖方都是价格接受者。

平均收入：总收入除以数量出售。

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边际收益:总收入的变化从一个额外的单位出售。

规模回报

规模收益不变表示，所有输入的变化会导致输出的比例变化。

规模收益递增时出现所有输入的增加导致more—than—proportional增加产出的水平。

规模回报减少发生在一个平衡的所有输入的增加导致less—than-proportional总产量的增加。

外部性：一个人的行为的影响幸福的旁观者。

市场力量：一个经济参与者的能力(或一小群演员)对市场价格有实质性的影响.

生产力：产品和服务的数量从一个工人每小时的时间.

通货膨胀：增加价格经济的整体水平.

菲利普斯曲线:一个曲线,显示了通货膨胀与失业之间的短期权衡取舍.

商业周期:经济活动的波动，如就业和生产。

经济循环流图：可视模型显示美元流入市场如何在家庭和公司。

生产可能性边界:一个图，显示了输出的组合,经济可能产生可用的生产要素和可用的生产技术。

微观经济学：研究家庭和企业在市场决策,以及他们如何相互作用.

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宏观经济学：整体经济现象的研究，包括通货膨胀，失业和经济增长。

均衡数量:数量提供均衡价格和数量要求。

盈余:情况供给数量大于需求数量。

不足:情况需求数量大于供给数量.

供求定律：声称任何好的价格调整带来的供需平衡。

价格上限：法律最大的价格可以卖.

价格下限:法定最低的价格可以卖。

税收归宿:税收负担的方式在市场参与者之间共享。

弹性：测量响应的需求数量或数量提供给它的决定因素之一。

需求的价格弹性：衡量有多少的需求量对价格的变化作出反应，好,计算作为需求量变化的百分比除以价格

变化的百分比.

总收入：收到的金额支付的买家和卖家的好，计算的价格好的时候数量出售。

收入截面失效的需求:衡量有多少好的响应变化的需求数量在消费者的收入，计算需求量变化的百分比除以

收入的百分比变化。

Crossprice需求弹性：衡量一个好的响应变化的需求数量价格的另一个好,计算的百分比变化的数量要求第

一个好除以价格变化百分比的第二个好。

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供给的价格弹性:衡量有多少好的响应变化的供给数量的价格好，计算是需求量变动的百分比除以价格变化

的百分比。

总收入:一个公司出售其输出接收。

总成本：输入一个公司的市场价值在生产中使用.

利润：总收益减去总成本.

经济利润:总收入减去总成本，包括显性和隐性的成本。

会计利润:总收入减去总显性成本。

明确成本:投入成本需要支出的钱的公司.

隐性成本：投入成本，不需要花费钱的公司.

经济成本:

会计成本：

机会成本

沉没成本:成本已提交,不能恢复.

长期短期成本/费用：

总成本：

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固定成本:成本不随产量的数量生产。

可变成本:成本随产出的数量生产.

平均总成本:总成本除以产量的数量.

平均固定成本:固定成本除以产量的数量.

平均可变成本：可变成本除以产量的数量。

边际成本：总成本的增加,来自一个额外的单位的生产。

效率:输出的数量最小化平均总成本。

规模经济:房地产，长期平均总成本随着产出的数量增加.

规模不经济:房地产，长期平均总成本上升随着输出的数量增加。

规模收益不变：房地产,长期平均总成本保持相同数量的输出变化.

帕累托有效的

福利经济学:研究资源配置如何影响经济福祉.

愿意支付:买家将支付的最高金额好。

消费者剩余:买方愿意支付减去买方实际支付金额.

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生产者剩余：卖家支付是一个好的减去卖方的成本。

效率：房地产资源分配的总剩余最大化接收到所有的社会成员.

公平:公平分配的福利的社会成员。

无谓损失：总顺差的下降，结果从市场扭曲,如税收。

外部性：一个人的无报酬的影响的行动在一个旁观者的福祉。

一个外部性内化:改变激励，这样人们考虑他们行为的外部效应。

科斯定理:命题,如果私人派对可以讨价还价没有成本分配的资源,他们可以自己解决外部性的问题.

交易成本：成本过程中,各方同意并按照讨价还价.

排他性：一个好的,一个人的财产可以禁止使用它。

在消费竞争:一个好的，一个人的财产的使用减少其他人的使用。

私人商品:商品都是排他性的，竞争对手。

公共物品:商品既不是排他性的也不是对手。

常见的资源：竞争对手商品而不是排他性的。

搭便车：一个人收到良好的好处但避免支付它。

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成本效益分析:一项研究,比较成本和效益提供一个公共利益的社会。

公地悲剧：比喻，说明了为什么公共资源习惯多是可取的从社会整体的角度来看

需求数量：数量的一个好买家愿意也有能力购买。

需求法则:声称,其他条件相同的情况下，需求数量的一个好当良好的价格上升。

需求计划:一个表,显示了良好的价格和数量之间的关系。

需求曲线：图之间的关系良好的价格和数量要求。

正常好:好,其他条件相同的情况下，收入的增加会导致需求的增加。

劣质品:好的，其他条件相同的情况下,收入的增加会导致需求减少。

替代品:两种商品的价格增加一个好会导致需求的增加.

补充：两种商品的价格增加一个好导致需求下降。

供给数量：数量的一个好卖家愿意和能够出售.

供给定律：声称，其他条件相同的情况下,一个好的的供给数量上升时,良好的价格上涨.

供应表：表，显示了良好的价格和数量之间的关系.

供给曲线：一个图形之间的关系提供一个好的价格和数量。

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平衡：情况提供的价格已经达到的水平数量等于需求数量。

均衡价格：价格平衡供给数量和数量要求。

生产函数：输入量之间的关系用于制造一个好和输出的数量的好。

边际产品：产出的增加，来自一个额外的单位的输入。

总产品

普通的产品

边际产品递减：属性,输入的边际产品下降随着输入的数量增加。

等产量曲线曲线：显示所有可能的组合输入,产生相同的输出

重置:公司愿意贸易的一个因素。

边际技术替代率递减规律

等成本线

生产者均衡:在最高的等产量曲线曲线和等成本曲线切线。

垄断:一个公司的唯一销售商的产品没有替代品。

自然垄断：垄断，是因为一个公司可以提供一个好的或服务整个市场以较小的成本比两个或两个以上的公

司.

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政府垄断

因为垄断企业是唯一的生产商在中国市场，它面临着向下滑动市场需求曲线

价格歧视：业务实践同样擅长不同的价格卖给不同的顾客。

垄断竞争：市场结构中，许多公司出售相似但不完全相同的产品。

寡头垄断:市场结构中，只有少数卖家提供类似或相同的产品.

双头垄断

勾结：达成协议公司在市场中关于生产数量或价格收取。

菜单:一群公司代理。

纳什均衡：经济情况:演员与彼此互动每个选择最佳策略战略，所有其他演员选择.

博弈论:研究人们如何表现在战略的情况。

囚徒困境:一个特定的“游戏”两个俘虏，说明了为什么合作是很难维护，即使这是互惠互利的。

主要策略:策略是最好的玩家在游戏中无论策略选择的其他玩家。