📚 AP Microeconomics: Core Vocabulary by Knowledge Modules | AP 微观经济：按知识模块分类的核心词汇
Mastering AP Microeconomics requires a strong command of precise terminology organized by the key knowledge modules tested in the exam. This bilingual glossary pairs every essential term with its Chinese equivalent and a concise explanation, helping you build conceptual clarity across Basic Economic Concepts, Supply and Demand, Elasticity, Consumer Choice, Production and Costs, market structures, Factor Markets, and Market Failure. Use it as both a quick reference and a systematic review tool.
掌握 AP 微观经济学需要在考试涵盖的各个知识模块中精准掌握术语。这份中英对照词汇表为每个核心词汇提供中文对应词和简明解释，帮助你理清基础经济概念、供需、弹性、消费者选择、生产和成本、市场结构、要素市场及市场失灵等模块的概念。可将其作为快速查阅和系统复习的工具。
1. Basic Economic Concepts | 基础经济概念
Scarcity: the fundamental economic problem arising from limited resources and unlimited wants, making choice unavoidable.
稀缺性：因资源有限而欲望无限所引发的根本经济问题，迫使人们必须做出选择。
Opportunity Cost: the value of the next-best alternative that is sacrificed when a decision is made.
机会成本：做决策时牺牲的次优选择的价值。
Marginal Analysis: comparing the additional benefits and additional costs of a choice to make optimal decisions.
边际分析：比较一个选择的额外收益与额外成本，以做出最优决策。
Comparative Advantage: the ability to produce a good at a lower opportunity cost than another producer.
比较优势：以低于其他生产者的机会成本生产某种商品的能力。
Production Possibilities Curve (PPC): a graph showing the maximum combinations of two goods an economy can produce with full employment of resources; illustrates scarcity, trade-offs, and opportunity cost.
生产可能性曲线：显示经济在资源充分利用时能生产的两种商品最大组合的图形；体现了稀缺性、权衡和机会成本。
Normative vs Positive Statements: positive statements are factual and testable (what is), while normative statements involve value judgments (what ought to be).
规范与实证陈述：实证陈述是事实性的、可检验的（是什么），规范陈述则包含价值判断（应该是什么）。
2. Supply and Demand | 供给与需求
Law of Demand: as the price of a good rises, quantity demanded falls, ceteris paribus.
需求定律：在其他条件不变下，商品价格上升，需求量下降。
Law of Supply: as the price of a good rises, quantity supplied rises, ceteris paribus.
供给定律：在其他条件不变下，商品价格上升，供给量上升。
Equilibrium: the price-quantity pair where quantity demanded equals quantity supplied; markets clear.
均衡：需求量等于供给量的价格-数量组合；市场出清。
Shortage and Surplus: a shortage occurs when price is below equilibrium (Qd > Qs); a surplus occurs when price is above equilibrium (Qs > Qd).
短缺与过剩：价格低于均衡时出现短缺（需求量大于供给量）；价格高于均衡时出现过剩（供给量大于需求量）。
Shifts vs Movements: a change in price causes a movement along the curve; changes in non-price determinants (income, tastes, input costs, etc.) shift the entire curve.
移动与转动：价格变化引起沿曲线的移动；非价格决定因素（收入、偏好、投入成本等）的变化导致整条曲线平移。
Price Controls: price ceiling (maximum legal price) set below equilibrium creates a shortage; price floor (minimum legal price) set above equilibrium creates a surplus.
价格管制：低于均衡的价格上限（最高合法价格）导致短缺；高于均衡的价格下限（最低合法价格）导致过剩。
3. Elasticity | 弹性
Price Elasticity of Demand (PED): measures responsiveness of quantity demanded to a change in price, calculated as %ΔQd ÷ %ΔP. The coefficient is usually negative, but we use its absolute value.
需求价格弹性 (PED)：衡量需求量对价格变化的反应程度，计算为 %ΔQd ÷ %ΔP。系数通常为负，但一般用绝对值。
PED = | %ΔQd / %ΔP |
Elastic, Inelastic, Unit Elastic: if |PED| > 1, demand is elastic; if |PED| < 1, inelastic; if |PED| = 1, unit elastic. Perfectly elastic is horizontal, perfectly inelastic is vertical.
富有弹性、缺乏弹性、单位弹性：|PED| > 1 为富有弹性；|PED| < 1 为缺乏弹性；|PED| = 1 为单位弹性。完全弹性为水平线，完全无弹性为垂直线。
Total Revenue Test: if demand is elastic, a price decrease raises total revenue; if inelastic, a price decrease lowers total revenue.
总收益检验：如果需求富有弹性，降价会提高总收益；如果缺乏弹性，降价会降低总收益。
Income Elasticity of Demand (YED): %ΔQd / %Δ income; positive for normal goods, negative for inferior goods.
需求收入弹性 (YED)：%ΔQd / %Δ收入；正常品为正，劣等品为负。
Cross-Price Elasticity of Demand (XED): %ΔQd of good X / %ΔP of good Y; positive for substitutes, negative for complements.
需求交叉价格弹性 (XED)：商品 X 需求量变化百分比 ÷ 商品 Y 价格变化百分比；替代品为正，互补品为负。
Price Elasticity of Supply (PES): %ΔQs / %ΔP; measures how responsive quantity supplied is to price changes. Key determinants include time period and availability of inputs.
供给价格弹性 (PES)：%ΔQs / %ΔP；衡量供给量对价格变化的反应程度。主要决定因素包括时间长短和投入品的可用性。
4. Consumer Choice and Utility | 消费者选择与效用
Utility: the satisfaction or benefit derived from consuming a good or service.
效用：从消费一种商品或服务中获得的满足感或收益。
Marginal Utility (MU): the additional utility from consuming one more unit of a good. The law of diminishing marginal utility states that MU eventually decreases as consumption rises.
边际效用 (MU)：多消费一单位商品所带来的额外效用。边际效用递减规律指出，随着消费增加，边际效用最终会下降。
Utility Maximization Rule: consumers allocate income so that the marginal utility per dollar spent is equal across all goods: MUₐ/Pₐ = MUₙ/Pₙ = …
MUₐ / Pₐ = MUₙ / Pₙ = …
效用最大化法则：消费者分配收入使得花在每一种商品上的最后一美元的边际效用相等。
Budget Constraint: the combination of goods affordable given income and prices. The slope measures the trade-off (opportunity cost) between two goods.
预算约束：在给定收入和价格下买得起的商品组合。斜率衡量两种商品间的权衡（机会成本）。
Indifference Curve: a curve showing combinations of goods that yield equal total utility. Convex due to diminishing marginal rate of substitution.
无差异曲线：表示带来相同总效用的商品组合的曲线。因边际替代率递减而凸向原点。
Income and Substitution Effects: the income effect occurs when a price change affects purchasing power; the substitution effect occurs when consumers switch to relatively cheaper goods. Both explain the downward slope of the demand curve.
收入效应与替代效应：收入效应指价格变动影响实际购买力；替代效应指消费者转向相对更便宜的商品。二者共同解释需求曲线向右下倾斜。
5. Production and Costs | 生产与成本
Short Run vs Long Run: in the short run, at least one input is fixed; in the long run, all inputs are variable.
短期与长期：短期中至少有一种投入固定；长期中所有投入均可变。
Law of Diminishing Marginal Returns: as more units of a variable input are added to fixed inputs, the marginal product of the variable input eventually declines.
边际报酬递减规律：在固定投入上不断增加可变投入，可变投入的边际产量最终会下降。
Total Product (TP), Marginal Product (MP), Average Product (AP): MP is the additional output from one more unit of input; AP is output per unit of input. When MP > AP, AP rises; when MP < AP, AP falls.
总产量 (TP)、边际产量 (MP)、平均产量 (AP)：MP 是多投入一单位带来的额外产出；AP 是每单位投入的产出。MP > AP 时 AP 上升，MP < AP 时 AP 下降。
Fixed Costs (FC) and Variable Costs (VC): FC do not change with output (rent, loan payments); VC change with output (labor, materials). Total Cost (TC) = FC + VC.
固定成本 (FC) 与可变成本 (VC)：FC 不随产量变化（租金、贷款偿付）；VC 随产量变化（劳动、原材料）。总成本 (TC) = FC + VC。
Marginal Cost (MC): the change in total cost from producing one more unit. It typically falls then rises due to diminishing returns.
MC = ΔTC / ΔQ
边际成本 (MC)：多生产一单位带来的总成本增加量。通常因边际报酬递减呈先降后升的 U 形。
Economies of Scale: long-run average total cost falls as output expands, due to specialization and efficiencies. Diseconomies of scale cause costs to rise at very high output.
规模经济：由于专业化和效率，长期平均总成本随产量扩大而下降。规模不经济则使极高产量下成本上升。
Long-Run Average Cost Curve (LRAC): a ‘U’-shaped curve showing the lowest possible per-unit cost for any output when all inputs are variable.
长期平均成本曲线 (LRAC)：U 形曲线，显示在所有投入可变时，任何产量水平上可实现的最低单位成本。
6. Perfect Competition | 完全竞争
Characteristics: many small firms, identical products, no barriers to entry or exit, perfect information, firms are price takers.
特征：大量小企业、同质产品、无进出壁垒、完全信息、企业是价格接受者。
Demand = Marginal Revenue = Price: the firm faces a perfectly elastic demand curve at the market price; selling an additional unit adds exactly the price to total revenue.
需求 = 边际收益 = 价格：企业面对市场价格处完全弹性需求曲线；多卖一单位增加的总收益恰等于价格。
Profit Maximization Rule: produce the quantity where MR = MC. In perfect competition, this becomes P = MC.
利润最大化法则：在 MR = MC 处生产。完全竞争下即为 P = MC。
Shut-Down Rule: if P < AVC at the profit-maximizing output, the firm minimizes losses by shutting down temporarily.
停业规则：若在利润最大化产量处 P < AVC，企业通过暂时停业使亏损最小。
Long-Run Equilibrium: entry and exit drive economic profit to zero; firms produce where P = MC = minimum ATC, achieving both allocative and productive efficiency.
长期均衡：进入和退出使经济利润为零；企业在 P = MC = 最低 ATC 处生产，同时实现配置效率与生产效率。
Allocative and Productive Efficiency: allocative efficiency (P = MC) and productive efficiency (P = minimum ATC) are both attained in long-run perfect competition.
配置效率与生产效率：配置效率 (P = MC) 和生产效率 (P = 最低 ATC) 在完全竞争长期均衡中同时实现。
7. Monopoly | 垄断
Barriers to Entry: legal restrictions, economies of scale (natural monopoly), control of essential resources, and strategic actions that prevent competition.
进入壁垒：法律限制、规模经济（自然垄断）、控制关键资源以及阻止竞争的战略行为。
Price Maker: a monopolist has market power and faces a downward-sloping demand curve. To sell more, it must lower the price, making MR < P.
价格制定者：垄断者具有市场势力，面对向右下倾斜的需求曲线。要卖出更多必须降价，因此 MR < P。
Profit Maximization: produce where MR = MC, then set price from the demand curve. This leads to higher price and lower output than perfect competition, creating deadweight loss.
利润最大化：在 MR = MC 处生产，然后根据需求曲线定价。导致价格更高、产量更低，产生无谓损失。
Deadweight Loss: the loss of total surplus when monopoly output restricts mutually beneficial trades, reflecting allocative inefficiency (P > MC).
无谓损失：垄断产量限制互利的交易而导致的总剩余损失，反映配置无效率 (P > MC)。
Price Discrimination: charging different prices to different consumers for the same good, based on willingness to pay, which can increase profit and sometimes reduce deadweight loss.
价格歧视：根据支付意愿对同一商品向不同消费者收取不同价格，可增加利润并有时减少无谓损失。
Natural Monopoly Regulation: regulators may impose marginal cost pricing (P = MC) which may cause losses, or average cost pricing (P = ATC) allowing a fair return.
自然垄断监管：监管者可实行边际成本定价 (P = MC)，可能造成亏损；或平均成本定价 (P = ATC)，给予合理回报。
8. Monopolistic Competition and Oligopoly | 垄断竞争与寡头
Monopolistic Competition Characteristics: many firms, differentiated products, low barriers to entry, price makers with some market power, non-price competition (advertising).
垄断竞争特征：企业众多、产品差异化、低进入壁垒、具有一定市场势力的价格制定者、非价格竞争（广告）。
Excess Capacity: in the long run, monopolistically competitive firms produce where P = ATC but at less than minimum efficient scale, leaving unused capacity and a markup over MC.
超额产能：长期中垄断竞争企业在 P = ATC 处生产，但产量低于最低有效规模，存在闲置产能以及高于 MC 的加成。
Oligopoly Characteristics: few large firms dominate, high barriers to entry, mutual interdependence, products may be identical or differentiated.
寡头特征：少数大企业主导、高进入壁垒、相互依赖、产品可同质或差异化。
Game Theory and Nash Equilibrium: analyzes strategic interactions; a Nash equilibrium occurs when each player chooses their best strategy given the strategies of others. The prisoner’s dilemma often applies.
博弈论与纳什均衡：分析策略性互动；纳什均衡是在给定他人策略下，每个参与方均选择了自己的最优策略。囚徒困境常被应用。
Collusion and Cartels: when firms cooperate to act like a monopoly, fixing prices or output. Cartels are unstable due to incentives to cheat.
合谋与卡特尔：企业合作像垄断者一样行动，固定价格或产量。卡特尔因存在欺骗诱惑而不稳定。
Kinked Demand Curve: a model of oligopoly where rivals match price cuts but not price increases, creating a kink at the current price and sticky prices.
弯折的需求曲线：寡头模型中，对手跟进降价但不跟进涨价，在当前价格处形成弯折，导致价格刚性。
9. Factor Markets | 要素市场
Derived Demand: demand for a factor of production (e.g., labor) is derived from the demand for the goods and services it produces.
派生需求：对生产要素（如劳动）的需求是从该要素所生产的商品和服务的需求中派生出来的。
Marginal Revenue Product (MRP): the additional revenue generated by hiring one more unit of input. MRP = MP × MR. In perfectly competitive output markets, MR = P, so MRP = MP × P.
边际收益产品 (MRP)：多雇用一单位投入所带来的额外收益。MRP = MP × MR。在完全竞争产品市场中，MR = P，故 MRP = MP × P。
Marginal Factor Cost (MFC): the additional cost of hiring one more unit of input. In a perfectly competitive labor market, MFC equals the wage rate.
边际要素成本 (MFC)：多雇用一单位投入所带来的额外成本。在完全竞争劳动市场，MFC 等于工资率。
Profit-Maximizing Hiring Rule: hire up to the point where MRP = MFC. For a perfectly competitive labor market, it becomes MRP = Wage.
利润最大化雇用规则：在 MRP = MFC 处停止雇用。在完全竞争劳动市场即为 MRP = 工资。
Least-Cost Rule: to minimize cost for a given output, firms allocate spending so that MP per dollar is equal across all inputs: MPₗ/Pₗ = MPₖ/Pₖ.
MPₗ / Pₗ = MPₖ / Pₖ
最低成本法则：为最小化给定产量的成本，企业分配支出使得所有投入的每美元边际产量相等。
Monopsony: a labor market with a single buyer. The firm faces an upward-sloping labor supply curve and MFC > wage; it hires fewer workers at a lower wage than a competitive market, causing deadweight loss.
买方垄断：只有一个买方的劳动市场。企业面对向右上倾斜的劳动供给曲线，MFC > 工资；与竞争市场相比，它雇用更少工人且支付更低工资，造成无谓损失。
10. Market Failure and Government Intervention | 市场失灵与政府干预
Externality: a side effect on a third party not reflected in the market price. Negative externality (pollution) leads to overproduction; positive externality (education) leads to underproduction.
外部性：未在市场价中反映的、对第三方产生的副作用。负外部性（污染）导致过度生产；正外部性（教育）导致生产不足。
Marginal Social Cost (MSC) and Marginal Social Benefit (MSB): MSC = MPC + marginal external cost; MSB = MPB + marginal external benefit. The socially optimal quantity is where MSC = MSB.
边际社会成本 (MSC) 与边际社会收益 (MSB)：MSC = 边际私人成本 + 边际外部成本；MSB = 边际私人收益 + 边际外部收益。社会最优产量在 MSC = MSB 处。
Public Goods: non-rival (one person’s consumption does not reduce availability) and non-excludable (no one can be prevented from using). The free-rider problem causes private markets to underprovide them.
公共物品：非竞争性（一人消费不减少可用量）和非排他性（无法阻止他人使用）。搭便车问题导致私人市场供给不足。
Common Resources: rival but non-excludable goods (e.g., fisheries). The tragedy of the commons leads to overexploitation; solutions include regulation, property rights, or tradable permits.
公共资源：竞争性但非排他性物品（如渔场）。公地悲剧导致过度开发；解决措施包括监管、产权或可交易许可证。
Coase Theorem: if property rights are well-defined and transaction costs are low, private bargaining can solve externality problems, leading to the efficient outcome regardless of initial assignment of rights.
科斯定理：如果产权明确且交易成本低，私人谈判可解决外部性问题，无论最初产权分配如何，都能达致有效结果。
Progressive Tax and Income Redistribution: a progressive tax takes a higher percentage from higher incomes. Governments may use taxes and transfers to reduce inequality, often measured by the Gini coefficient and Lorenz curve.
累进税与收入再分配：累进税对更高收入征收更高比例。政府可利用税收和转移支付减少不平等，常用基尼系数和洛伦兹曲线衡量。
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