📚 AP Economics: Key Vocabulary and Definitions Summary | AP经济学核心词汇释义总结
Mastering essential economic terms is vital for success in both AP Microeconomics and AP Macroeconomics. This summary provides clear, exam-focused definitions of key vocabulary, helping you build a solid foundation and boost your confidence for the exam.
掌握核心经济学术语对于AP微观经济学和宏观经济学考试的成功至关重要。本总结为关键词汇提供清晰、紧扣考点的定义，帮助你打下坚实基础，提升应考信心。
1. Basic Economic Concepts | 基本经济概念
Scarcity: The fundamental economic problem that arises because resources are limited while human wants are unlimited, forcing individuals and societies to make choices.
稀缺性：由于资源有限而人类欲望无限所引发的根本经济问题，迫使个人和社会做出选择。
Opportunity Cost: The value of the next best alternative that is given up when a choice is made; it represents the true cost of any decision.
机会成本：做出选择时所放弃的次优替代方案的价值；它代表了任何决策的真实成本。
Marginal Analysis: Decision-making that involves comparing the additional benefits and additional costs of an action, often summarized as ‘thinking at the margin’.
边际分析：比较一项行动的额外收益与额外成本的决策方法，常被概括为“边际思考”。
Incentives: Factors that motivate individuals to act or exert effort; they can be positive (rewards) or negative (penalties), and are central to predicting behavior.
激励：促使个人行动或付出努力的因素；可以是正向的（奖励）或负向的（惩罚），是预测行为的核心。
2. Supply and Demand | 供给与需求
Law of Demand: All else equal, as the price of a good increases, the quantity demanded decreases, and vice versa. This inverse relationship is shown by a downward-sloping demand curve.
需求定律：在其他条件不变时，商品价格上升，需求量下降；反之亦然。这种反向关系表现为向下倾斜的需求曲线。
Law of Supply: All else equal, as the price of a good increases, the quantity supplied increases, and vice versa. The direct relationship is shown by an upward-sloping supply curve.
供给定律：在其他条件不变时，商品价格上升，供给量增加；反之亦然。这种正向关系表现为向上倾斜的供给曲线。
Equilibrium: The market price and quantity where quantity demanded equals quantity supplied, with no inherent tendency to change. It represents market-clearing.
均衡：需求量等于供给量时的市场价格和数量，没有内在变化趋势。它代表市场出清。
Shift vs. Movement: A shift of the demand or supply curve is caused by a change in a non-price determinant (e.g., income, technology). A movement along the curve is caused solely by a change in the good’s own price.
移动 vs. 沿着曲线移动：需求或供给曲线的移动是由非价格决定因素（如收入、技术）的变化引起的。沿着曲线的移动仅由商品自身价格的变化引起。
3. Elasticity | 弹性
Price Elasticity of Demand (PED): Measures the responsiveness of quantity demanded to a change in price, calculated as %ΔQd / %ΔP. It shows how sensitive consumers are to price changes.
需求价格弹性 (PED)：衡量需求量对价格变化的反应程度，计算公式为 %ΔQd / %ΔP。它显示消费者对价格变化的敏感程度。
Elastic Demand: When the absolute value of PED is greater than 1, meaning quantity demanded changes proportionately more than the price change. Luxury goods often have elastic demand.
弹性需求：当 PED 绝对值大于1时，需求量变化的比例大于价格变化的比例。奢侈品的需求通常富有弹性。
Income Elasticity of Demand (YED): Measures how quantity demanded responds to a change in consumers’ income. Normal goods have YED > 0, while inferior goods have YED < 0.
需求收入弹性 (YED)：衡量需求量对消费者收入变化的反应程度。正常品 YED > 0，劣等品 YED < 0。
Cross-Price Elasticity of Demand (XED): Measures the responsiveness of demand for one good to a change in the price of another. Positive XED indicates substitutes; negative XED indicates complements.
需求交叉价格弹性 (XED)：衡量一种商品的需求对另一种商品价格变化的反应程度。正 XED 表示替代品；负 XED 表示互补品。
Price Elasticity of Supply (PES): Measures the responsiveness of quantity supplied to a change in price, determined mainly by the ability of producers to change output quickly.
供给价格弹性 (PES)：衡量供给量对价格变化的反应程度，主要取决于生产者快速改变产出的能力。
4. Consumer and Producer Surplus | 消费者与生产者剩余
Consumer Surplus: The difference between the maximum price a consumer is willing to pay and the actual market price paid. It measures the benefit consumers receive from market transactions.
消费者剩余：消费者愿意支付的最高价格与实际支付的市场价格之间的差额。它衡量消费者从市场交易中获得的福利。
Producer Surplus: The difference between the minimum price a producer is willing to accept and the actual market price received. It represents the benefit producers gain from selling at the market price.
生产者剩余：生产者愿意接受的最低价格与实际收到的市场价格之间的差额。它代表生产者以市场价格出售获得的福利。
Total Surplus: The sum of consumer and producer surplus; it is a key measure of economic efficiency and social welfare in a market.
总剩余：消费者剩余与生产者剩余之和；它是衡量市场效率和社会福利的关键指标。
Deadweight Loss: The loss of total surplus that occurs when the market is not at equilibrium, typically due to government interventions like taxes, price controls, or externalities.
无谓损失：当市场不在均衡状态时发生的总剩余损失，通常由税收、价格管制或外部性等政府干预引起。
5. Market Structures | 市场结构
Perfect Competition: A market structure with many buyers and sellers, identical products, free entry and exit, and perfect information. Firms are price takers, and allocative and productive efficiency are achieved in the long run.
完全竞争：一种拥有众多买卖者、同质产品、自由进出和完全信息的市场结构。企业是价格接受者，长期可实现配置效率和生产效率。
Monopoly: A market with a single seller of a unique product with no close substitutes, high barriers to entry. The monopolist is a price maker and may cause deadweight loss by restricting output.
垄断：只有一个卖者销售独特产品、没有近似替代品、进入壁垒高。垄断者是价格制定者，可能通过限制产量导致无谓损失。
Oligopoly: A market dominated by a few large firms, characterized by interdependent decision-making and high barriers. Firms may compete or collude, and game theory often describes their behavior.
寡头：由少数大企业主导的市场，特征是决策相互依赖和高壁垒。企业可能竞争或合谋，博弈论常用来描述其行为。
Monopolistic Competition: A market with many firms selling differentiated products, relatively low barriers, and some price-setting power through product differentiation. Firms earn zero economic profit in the long run.
垄断竞争：众多企业销售差异化产品、进入壁垒相对较低、通过产品差异化拥有一定定价权的市场。长期中企业获得零经济利润。
6. Factor Markets | 要素市场
Derived Demand: The demand for factors of production (labor, capital, land) is derived from the demand for the final goods and services they help produce.
派生需求：对生产要素（劳动、资本、土地）的需求源自对它们所帮助生产的最终商品和服务的需求。
Marginal Revenue Product (MRP): The additional revenue generated by employing one more unit of a factor. In competitive output markets, MRP = marginal product x price of output.
边际收益产品 (MRP)：多雇佣一单位要素所产生的额外收益。在竞争性产出市场，MRP = 边际产品 × 产出价格。
Marginal Factor Cost (MFC): The additional cost of hiring one more unit of a factor. For a firm in a competitive labor market, MFC equals the market wage rate.
边际要素成本 (MFC)：多雇佣一单位要素的额外成本。对于在竞争性劳动市场中的企业，MFC 等于市场工资率。
Least-Cost Rule: Producing any given level of output at minimum cost requires that the ratio of marginal product to factor price be equal for all inputs (MPa/Pa = MPb/Pb).
最小成本法则：以最低成本生产任何给定产量要求所有投入的边际产品与要素价格之比相等 (MPa/Pa = MPb/Pb)。
7. Market Failures and the Role of Government | 市场失灵与政府角色
Externality: A cost or benefit that affects a third party not directly involved in the transaction. Negative externalities (e.g., pollution) lead to overproduction; positive externalities (e.g., education) lead to underproduction.
外部性：影响未直接参与交易的第三方的成本或收益。负外部性（如污染）导致生产过度；正外部性（如教育）导致生产不足。
Public Goods: Goods that are non-excludable and non-rivalrous, such as national defense. The free-rider problem often prevents private markets from supplying them efficiently.
公共物品：具有非排他性和非竞争性的物品，如国防。搭便车问题往往使私人市场无法有效提供它们。
Free-Rider Problem: A situation in which individuals can enjoy the benefits of a good without paying for it, leading to underprovision of the good by private firms.
搭便车问题：个人可以不用付费就享受物品
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