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微观经济名词解释CHAPTER1Scarcity：thelimitednatureofsociety’sresources.Economics：thestudyofhowsocietymanagesitsscarceresources.Efficiency：thepropertyofsocietygettingthemostitcanfromitsscarceresources.Equity：thepropertyofdistributingeconomicprosperityfairlyamongthemembersofsociety.Opportunitycost：whatevermustbegivenuptoobtainsomeitem.Rationalpeople：peoplewhosystematicallyandpurposefullydothebesttheycantoachievetheirobjectives.Marginalchanges：smallincrementaladjustmentstoaplanofaction.Incentive：somethingthatinducesapersontoact.Marketeconomy：aneconomythatallocatesresourcesthroughthedecentralizeddecisionsofmanyfirmsandhouseholdsastheyinteractinmarketsforgoodsandservices.Propertyrights：theabilityofanindividualtoownandexercisecontroloverscarceresources.Marketfailure：asituationinwhichamarketleftonitsownfailstoallocateresourcesefficiently.Externality：theimpactofoneperson’sactionsonthewell-beingofabystander.Marketpower：theabilityofasingleeconomicactor(orsmallgroupofactors)tohaveasubstantialinfluenceonmarketprices.Productivity：thequantityofgoodsandservicesproducedfromeachhourofaworker’stime.Inflation：anincreaseintheoveralllevelofpricesintheeconomy.Businesscycle：fluctuationsineconomicactivity,suchasemploymentandproduction.CHAPTER2Circular-flowdiagram：avisualmodeloftheeconomythatshowshowdollarsflowthroughmarketsamonghouseholdsandfirms.Productionpossibilitiesfrontier：agraphthatshowsthecombinationsofoutputthattheeconomycanpossiblyproducegiventheavailablefactorsofproductionandtheavailableproductiontechnology.Microeconomics：thestudyofhowhouseholdsandfirmsmakedecisionsandhowtheyinteractinmarkets.Macroeconomics：thestudyofeconomy-widephenomena,includinginflation,unemployment,andeconomicgrowth.Positivestatements：claimsthatattempttodescribetheworldasitis.Normativestatements：claimsthatattempttoprescribehowtheworldshouldbe.Chapter3Absoluteadvantage：theabilitytoproduceagoodusingfewerinputsthananotherproducerOpportunitycost：whatevermustbegivenuptoobtainsomeitemComparativeadvantage：theabilitytoproduceagoodataloweropportunitycostthananotherproducerExports：goodsproduceddomestically合乎国内的andsoldabroadImports：goodsproducedabroadandsolddomesticallyCHAPTER4Market：agroupofbuyersandsellersofaparticulargoodorserviceCompetitivemarket：amarketinwhichtherearemanybuyersandmanysellerssothateachhasanegligibleimpactonthemarketpriceQuantitydemanded：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.CHAPTER5Elasticity：ameasureoftheresponsivenessofquantitydemandedorquantitysuppliedtooneofitsdeterminants.Priceelasticityofdemand：ameasureofhowmuchthequantitydemandedofagoodrespondstoachangeinthepriceofthatgood,computedasthepercentagechangeinquantitydemandeddividedbythepercentagechangeinprice.Totalrevenue：theamountpaidbybuyersandreceivedbysellersofagood,computedasthepriceofthegoodtimesthequantitysold.Incomelasticityofdemand：ameasureofhowmuchthequantitydemandedofagoodrespondstoachangeinconsumers’income,computedasthepercentagechangeinquantitydemandeddividedbythepercentagechangeinincome.Crosspriceelasticityofdemand：ameasureofhowmuchthequantitydemandedofonegoodrespondstoachangeinthepriceofanothergood,computedasthepercentagechangeinthequantitydemandedofthefirstgooddividedbythepercentagechangeinthepriceofthesecondgood.Priceelasticityofsupply：ameasureofhowmuchthequantitysuppliedofagoodrespondstoachangeinthepriceofthatgood,computedasthepercentagechangeinquantitysupplieddividedbythepercentagechangeinprice.CHAPTER6Priceceiling：alegalmaximumonthepriceatwhichagoodcanbesold.Pricefloor：alegalminimumonthepriceatwhichagoodcanbesold