📚 AP Economics: Key Terms Glossary | AP 经济学：核心词汇释义汇总
Mastering AP Economics — both Microeconomics and Macroeconomics — begins with a rock‑solid command of the discipline’s core vocabulary. This glossary distils the most frequently tested terms into concise, bilingual definitions, helping you bridge the gap between textbook English and conceptual clarity. Whether you are preparing for free‑response questions or drilling multiple‑choice concepts, internalising these entries will sharpen your analysis and boost your confidence.
攻克 AP 经济学（微观与宏观）的第一步，就是扎实掌握学科的核心词汇。这份术语表将最高频的考点浓缩为精炼的中英双语释义，帮助你在原版教材和清晰概念之间搭建桥梁。无论你是在准备简答题还是刷选择题，熟记这些条目都能让分析更敏锐，底气更足。
1. Fundamental Economic Concepts | 基本经济概念
Scarcity is the condition in which human wants exceed the available resources, forcing individuals and societies to make choices. It is the fundamental economic problem that gives rise to opportunity cost and all subsequent trade‑offs.
稀缺性 是指人类的欲望超过现有资源的状况，迫使个人与社会做出选择。这是最基本的经济问题，进而产生了机会成本以及所有后续的权衡取舍。
Opportunity Cost is the value of the next best alternative forgone when a choice is made. It is not limited to monetary cost but includes time, utility, and any sacrificed benefit.
机会成本 是做出一种选择时所放弃的次优选项的价值。它不限于货币成本，还包括时间、效用以及任何被牺牲掉的好处。
Production Possibilities Curve (PPC) illustrates the maximum combinations of two goods an economy can produce given fixed resources and technology. Points inside the curve indicate inefficiency; outward shifts represent economic growth.
生产可能性曲线（PPC） 展示了一个经济体在资源与技术既定时能生产的两种商品的最大组合。曲线内的点表示无效率；曲线外移代表经济增长。
Marginal Analysis involves comparing the additional benefits of an action to its additional costs. Optimal decisions occur where marginal benefit equals marginal cost (MB = MC).
边际分析 是比较一项行动的额外收益与额外成本的方法。最优决策发生在边际收益等于边际成本（MB = MC）之处。
2. Supply and Demand | 供给与需求
Law of Demand states that, all else being equal, as the price of a good rises, quantity demanded falls (and vice versa), reflecting the inverse relationship between price and quantity demanded.
需求定律 指出，其他条件不变时，商品价格上升，需求量下降（反之亦然），体现了价格与需求量之间的反向关系。
Law of Supply holds that, ceteris paribus, higher prices lead to higher quantity supplied because producers are incentivised to offer more for greater profit.
供给定律 认为，其他条件不变时，价格越高，供给量越大，因为生产者受到激励以提供更多商品来获取更高利润。
Equilibrium occurs at the price where quantity demanded equals quantity supplied. At this point, there is no surplus or shortage, and market forces stabilise.
均衡 发生在需求量等于供给量的价格水平上。此时没有过剩或短缺，市场力量达到稳定。
Shifts vs. Movements – A change in price causes a movement along the curve; a change in a non‑price determinant (income, tastes, input costs) shifts the entire curve left or right.
移动与位移 – 价格变动引起沿曲线的移动；非价格决定因素（收入、偏好、投入成本）的变化则使整条曲线向左或向右位移。
3. Elasticity | 弹性
Price Elasticity of Demand (PED) measures how responsive quantity demanded is to a change in price. PED = (% change in Qd) ÷ (% change in P). If |PED| > 1, demand is elastic; if < 1, inelastic.
需求价格弹性（PED） 衡量需求量对价格变动的反应程度。PED = (Qd 变动%) ÷ (价格变动%)。若 |PED| > 1，需求富有弹性；若 < 1，缺乏弹性。
Price Elasticity of Supply (PES) captures the responsiveness of quantity supplied to price changes. It depends on production flexibility and time horizon.
供给价格弹性（PES） 反映供给量对价格变动的敏感度。它取决于生产灵活性和时间跨度。
Income Elasticity of Demand (YED) indicates how demand changes as consumer income changes. Normal goods have YED > 0; inferior goods have YED < 0.
需求收入弹性（YED） 显示消费者收入变化时需求如何变化。正常品 YED > 0；低档品 YED < 0。
Cross‑Price Elasticity of Demand (XED) measures the effect of a change in the price of one good on the demand for another. Substitutes have XED > 0; complements have XED < 0.
需求交叉价格弹性（XED） 衡量一种商品价格变化对另一种商品需求的影响。替代品 XED > 0；互补品 XED < 0。
4. Consumer Theory | 消费者理论
Utility is the satisfaction or pleasure derived from consuming goods and services. Total utility accumulates; marginal utility is the additional satisfaction from consuming one more unit.
效用 是从消费商品与服务中获得的满足感。总效用是累计值；边际效用是多消费一单位所带来的额外满足。
Diminishing Marginal Utility asserts that as a person consumes more of a good, the extra satisfaction from each additional unit eventually declines. This shapes the downward‑sloping demand curve.
边际效用递减 认为，随着消费某商品数量的增加，每增加一单位所带来的额外满足感最终会下降。这塑造了向下倾斜的需求曲线。
Budget Constraint represents all combinations of two goods a consumer can afford given income and prices. The slope equals the price ratio (–Pₓ / Pᵧ).
预算约束 表示在给定收入和价格下，消费者能买得起的两种商品的所有组合。斜率等于价格比 (–Pₓ / Pᵧ)。
Consumer Surplus is the difference between what consumers are willing to pay and what they actually pay. It is the area below the demand curve and above the market price.
消费者剩余 是消费者愿意支付的价格与实际支付价格之间的差额。它是需求曲线下方、市场价格上方的面积。
5. Producer Theory and Costs | 生产者理论与成本
Fixed Costs (FC) do not vary with output in the short run (e.g., rent). Variable Costs (VC) change with production volume (e.g., raw materials). Total Cost = FC + VC.
固定成本（FC） 在短期内不随产量变动（如租金）。可变成本（VC） 随产量变化（如原材料）。总成本 = FC + VC。
Marginal Cost (MC) is the additional cost of producing one more unit. It intersects average total cost (ATC) and average variable cost (AVC) at their minimum points.
边际成本（MC） 是多生产一单位产品的额外成本。它与平均总成本（ATC）和平均可变成本（AVC）相交于它们的最低点。
Economies of Scale occur when long‑run average total cost falls as output expands, due to factors like specialisation. Diseconomies of scale push costs up beyond an optimal scale.
规模经济 指长期平均总成本随产量扩张而下降，源于专业化等因素。规模不经济则在超过最优规模后使成本上升。
Profit Maximisation Rule states that firms maximise profit by producing where marginal revenue equals marginal cost (MR = MC).
利润最大化法则 指出企业通过将产量定在边际收益等于边际成本（MR = MC）的水平上来实现利润最大化。
6. Market Structures | 市场结构
Perfect Competition features many small firms, homogeneous products, perfect information, and free entry/exit. Firms are price takers; in the long run, economic profit is zero (P = MR = MC = ATC).
完全竞争 拥有众多小企业、同质产品、完全信息和自由进出。企业是价格接受者；长期中经济利润为零（P = MR = MC = ATC）。
Monopoly exists when a single seller controls the market with high barriers to entry. The monopolist is a price maker, produces where MR = MC but charges a price above MC, and earns long‑run profit often leading to deadweight loss.
垄断 指单一卖方凭借高进入壁垒控制市场。垄断者是价格制定者，在 MR = MC 处生产，但定价高于 MC，往往获得长期利润并导致无谓损失。
Oligopoly is dominated by a few large firms, with high barriers. They may engage in collusion (cartels) or non‑price competition. Game theory models (prisoner’s dilemma) explain interdependent behaviour.
寡头垄断 由少数大企业主导，进入壁垒高。它们可能合谋（卡特尔）或进行非价格竞争。博弈论模型（囚徒困境）可解释相互依赖的行为。
Monopolistic Competition combines many sellers with product differentiation and low barriers. Firms have some pricing power; in the long run they earn zero economic profit (P = ATC) but produce with excess capacity.
垄断竞争 融合了大量卖方、产品差异化和低进入壁垒。企业具有一定定价权；长期中获得零经济利润（P = ATC），但存在产能过剩。
7. Factor Markets | 要素市场
Derived Demand means the demand for a factor of production (labour, capital) stems from the demand for the final product it helps produce.
派生需求 指对一种生产要素（劳动、资本）的需求源自对其所产出的最终产品的需求。
Marginal Revenue Product of Labour (MRPL) = Marginal Product of Labour × Marginal Revenue. Firms hire workers as long as MRPL exceeds the wage rate.
劳动的边际收益产品（MRPL） = 劳动的边际产品 × 边际收益。只要 MRPL 高于工资率，企业就会雇佣工人。
Least‑Cost Rule for combining inputs: minimise cost when the marginal product per dollar spent on each input is equal (MPₗ / w = MPₖ / r).
最小成本法则 用于要素组合：当花在每种要素上的每一美元所带来的边际产品相等时（MPₗ / w = MPₖ / r），成本最小化。
Monopsony is a labour market with a single buyer (employer). The monopsonist hires fewer workers and pays a lower wage than in a competitive labour market, creating inefficiency.
买方垄断 指劳动力市场中只有一个买方（雇主）。与竞争性劳动市场相比，买方垄断者雇佣更少的工人、支付更低的工资，导致无效率。
8. Market Failure and Government Intervention | 市场失灵与政府干预
Externalities occur when a transaction affects third parties not directly involved. Negative externalities (pollution) cause overproduction; positive externalities (vaccination) cause underproduction.
外部性 发生在交易影响到未直接参与的第三方时。负外部性（污染）导致过度生产；正外部性（疫苗接种）导致生产不足。
Public Goods are non‑excludable and non‑rivalrous (e.g., national defence). Private markets under‑provide them, requiring government intervention.
公共物品 具有非排他性和非竞争性（如国防）。私人市场会供给不足，需要政府干预。
Deadweight Loss is the loss of total surplus (consumer + producer) that results from market distortions like price controls, taxes, or monopoly power.
无谓损失 是市场扭曲（如价格管制、税收或垄断势力）造成的总剩余（消费者剩余 + 生产者剩余）损失。
Price Ceiling is a legally mandated maximum price. If set below equilibrium, it creates a persistent shortage. Price Floor sets a minimum price above equilibrium, leading to a surplus.
价格上限 是法定的最高价格。若低于均衡价，会造成持续性短缺。价格下限 则设定高于均衡的最低价格，导致过剩。
9. Macroeconomic Indicators | 宏观经济指标
Gross Domestic Product (GDP) measures the total market value of all final goods and services produced within a country in a given year. Real GDP adjusts for inflation using a base year’s prices.
国内生产总值（GDP） 衡量一国在一年内生产的所有最终商品与服务的市场价值总和。实际 GDP 使用基年价格剔除通胀影响。
Unemployment Rate = (number of unemployed ÷ labour force) × 100. The labour force includes those employed or actively seeking work. Types include frictional, structural, and cyclical unemployment.
失业率 = (失业人数 ÷ 劳动力) × 100。劳动力包括就业者和积极求职者。类型有摩擦性失业、结构性失业和周期性失业。
Inflation is a sustained increase in the general price level. It is measured by the Consumer Price Index (CPI). Disinflation is a slowdown in the inflation rate; deflation is a decrease in the price level.
通货膨胀 是总体物价水平的持续上升。由消费者价格指数（CPI）衡量。反通货膨胀指通胀率下降；通货紧缩指物价水平下降。
Natural Rate of Unemployment is the rate consistent with full employment output, comprising frictional and structural unemployment only. The corresponding output is Potential GDP.
自然失业率 是与充分就业产出相符的失业率，仅包含摩擦性和结构性失业。对应的产出为潜在 GDP。
10. Aggregate Demand and Aggregate Supply | 总需求与总供给
Aggregate Demand (AD) shows the total quantity of goods and services demanded in an economy at different price levels. It slopes downward due to wealth, interest‑rate, and net‑export effects.
总需求（AD） 表示在不同物价水平下，经济中对商品与服务的总需求量。由于财富效应、利率效应和净出口效应，AD 曲线向右下倾斜。
Short‑Run Aggregate Supply (SRAS) is upward‑sloping, reflecting sticky wages or prices. Shifts can be caused by changes in input costs, productivity, or supply shocks.
短期总供给（SRAS） 曲线向右上倾斜，反映了工资或价格粘性。投入成本、生产率或供给冲击的变化可使其位移。
Long‑Run Aggregate Supply (LRAS) is vertical at the potential GDP level, indicating that in the long run, output is determined by resources and technology, not the price level.
长期总供给（LRAS） 在潜在 GDP 水平呈垂直线，表明长期中产出由资源和技术决定，而非物价水平。
Recessionary Gap occurs when equilibrium output is below potential, accompanied by unemployment. An Inflationary Gap has equilibrium output above potential, pressuring prices upward.
衰退缺口 指均衡产出低于潜在产出，伴随失业。通胀缺口 则是均衡产出高于潜在产出，带来物价上涨压力。
11. Fiscal and Monetary Policy | 财政政策与货币政策
Fiscal Policy uses government spending and taxation to influence the economy. Expansionary policy (increased G, lower taxes) closes a recessionary gap; contractionary policy curbs inflation.
财政政策 运用政府支出与税收来影响经济。扩张性政策（增加 G、减税）可弥补衰退缺口；紧缩性政策则抑制通胀。
Multiplier Effect magnifies an initial change in spending into a larger final change in GDP. For a closed economy without taxes, the spending multiplier = 1 / (1 – MPC).
乘数效应 将初始支出的变动放大为 GDP 的更大变动。在无税收的封闭经济中，支出乘数 = 1 / (1 – MPC)。
Monetary Policy is conducted by a central bank (the Fed in the US) through manipulating money supply and interest rates. Open‑market operations are the primary tool.
货币政策 由中央银行（美国为美联储）通过调控货币供给和利率实施。公开市场操作是首要工具。
Federal Funds Rate is the interest rate banks charge each other for overnight loans. The Fed targets this rate to influence overall borrowing costs and economic activity.
联邦基金利率 是银行之间隔夜拆借的利率。美联储通过设定该利率目标来影响整体借贷成本和经济活动。
12. International Trade and Finance | 国际贸易与金融
Comparative Advantage exists when a country can produce a good at a lower opportunity cost than another. Specialisation and trade based on comparative advantage increase total world output.
比较优势 指一国能以比另一国更低的机会成本生产某种商品。基于比较优势的专业化与贸易能增加全球总产出。
Balance of Payments records all economic transactions between a country and the rest of the world. The current account includes trade in goods and services; the financial account records capital flows.
国际收支平衡表 记录一国与世界其他国家的所有经济交易。经常账户包括商品和服务贸易；金融账户记录资本流动。
Exchange Rate is the price of one currency in terms of another. Appreciation makes a currency stronger (buys more foreign currency); depreciation makes it weaker.
汇率 是一种货币以另一种货币表示的价格。升值使货币更强势（能兑换更多外币）；贬值则使其变弱。
Tariffs are taxes on imports; Quotas are limits on the quantity of imports. Both restrict trade, raise domestic prices, and cause deadweight loss.
关税 是对进口商品征收的税；配额 是对进口数量的限制。两者均限制贸易、提高国内价格并导致无谓损失。
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