📚 AP Microeconomics: Core Vocabulary by Topic | AP微观经济：按主题分类的核心词汇表
Welcome to this comprehensive vocabulary guide for AP Microeconomics. Each term is explained in clear English with a matching Chinese definition, organized by the major topics tested on the exam. Mastering these core concepts will sharpen your multiple-choice accuracy and strengthen your free-response answers.
欢迎来到这份全面的AP微观经济核心词汇指南。每个术语都配有简洁的英文解释和对应的中文定义，并按考试涉及的主要主题分类。掌握这些核心概念将帮助你提高选择题的正确率并强化简答题的回答。
1. Basic Economic Concepts | 基本经济概念
Scarcity is the condition in which human wants exceed the limited resources available to satisfy them, making choice necessary at every level.
稀缺性 是指人类的欲望超过了可用来满足这些欲望的有限资源，因此在任何层面上都必需做出选择。
Opportunity cost is the value of the next-best alternative that must be given up when a decision is made; it is the real cost of any choice.
机会成本 是指做出一项决定时必须放弃的次优选择的价值，它是任何选择的真实成本。
Marginal analysis involves comparing the additional benefits of an action to its additional costs; ‘marginal’ means one more unit.
边际分析 涉及将某一行动的额外收益与额外成本相比较；’边际’指的是再增加一个单位。
Incentives are rewards or penalties that influence people’s choices and behavior; they can be positive or negative.
激励 是影响人们选择与行为的奖励或惩罚，可以是正向的也可以是负向的。
2. Comparative Advantage and Trade | 比较优势与贸易
Absolute advantage exists when a producer can make a good using fewer inputs (or more output in the same time) than another producer.
绝对优势 存在于当一个生产者生产某种商品所使用的投入比另一个生产者更少（或在相同时间内产出更多）的情况。
Comparative advantage occurs when a producer can make a good at a lower opportunity cost than another producer; this is the basis for mutually beneficial trade.
比较优势 出现在当一个生产者生产某种商品的机会成本低于另一个生产者时；这是互惠贸易的基础。
Terms of trade refer to the rate at which one good is exchanged for another; mutually beneficial trade occurs when the terms lie between the two countries’ opportunity costs.
贸易条件 是指一种商品交换另一种商品的比率；当贸易条件位于两国机会成本之间时，就会发生互惠贸易。
Production possibilities curve (PPC) shows the maximum combinations of two goods an economy can produce with full and efficient use of resources.
生产可能性曲线 (PPC) 显示了一个经济体在充分且有效利用资源的情况下所能生产的两种商品的最大组合。
3. Supply and Demand | 供给与需求
Law of demand states that, ceteris paribus, as the price of a good rises, the quantity demanded falls; it reflects diminishing marginal utility.
需求定律 指出，在其他条件不变的情况下，一种商品的价格上升，需求量会下降；这反映了边际效用递减。
Law of supply states that, ceteris paribus, as the price of a good rises, the quantity supplied rises; it is driven by the profit motive.
供给定律 指出，在其他条件不变的情况下，一种商品的价格上升，供给量会增加；这是由利润动机驱动的。
Market equilibrium is the price-quantity pair where quantity demanded equals quantity supplied; there is no shortage or surplus.
市场均衡 是需求量等于供给量时的价格-数量组合，此时不存在短缺或过剩。
Price floor is a legal minimum price set above equilibrium, causing a persistent surplus (e.g., minimum wage).
价格下限 是设定在均衡价格之上的法定最低价格，会导致持续的过剩（例如最低工资）。
Price ceiling is a legal maximum price set below equilibrium, causing a persistent shortage (e.g., rent control).
价格上限 是设定在均衡价格之下的法定最高价格，会导致持续的短缺（例如租金管制）。
4. Elasticity | 弹性
Price elasticity of demand (PED) measures how responsive quantity demanded is to a change in price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price.
需求的价格弹性 (PED) 衡量需求量对价格变化的反应程度。其计算方法是需求量的百分比变化除以价格的百分比变化。
Ed = %ΔQd / %ΔP
Ed = %ΔQd / %ΔP
Income elasticity of demand (YED) measures how responsive demand is to a change in consumers’ income; normal goods have positive YED, inferior goods have negative YED.
需求的收入弹性 (YED) 衡量需求对消费者收入变化的反应程度；正常品的YED为正，低档品的YED为负。
Cross-price elasticity of demand (XED) measures how the demand for one good responds to a change in the price of another good; substitutes have positive XED, complements have negative XED.
需求的交叉价格弹性 (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；替代品的XED为正，互补品的XED为负。
Price elasticity of supply (PES) measures how responsive quantity supplied is to a change in price; it depends on factors like production flexibility and time horizon.
供给的价格弹性 (PES) 衡量供给量对价格变化的反应程度；它取决于生产灵活性和时间跨度等因素。
5. Consumer Choice Theory | 消费者选择理论
Total utility (TU) is the overall satisfaction a consumer receives from consuming a given quantity of a good or service.
总效用 (TU) 是消费者从消费一定数量的商品或服务中获得的总满足感。
Marginal utility (MU) is the additional satisfaction from consuming one more unit; MU = change in total utility / change in quantity.
边际效用 (MU) 是多消费一单位商品所带来的额外满足感；MU = 总效用的变化量 ÷ 数量的变化量。
The utility-maximizing rule states that a consumer allocates income so that the marginal utility per dollar spent is equal across all goods: MUa/Pa = MUb/Pb.
效用最大化法则 指出，消费者分配收入应使花在每一种商品上的每 1 元带来的边际效用相等：MUa/Pa = MUb/Pb。
Budget line shows all combinations of two goods a consumer can afford given income and prices; its slope equals the opportunity cost of one good in terms of the other.
预算线 显示给定收入和价格下消费者能够负担的两种商品的所有组合；其斜率等于一种商品相对于另一种商品的机会成本。
6. Production Costs and Perfect Competition | 生产成本与完全竞争
Fixed costs (FC) do not vary with output in the short run (e.g., rent); they exist even at zero output.
固定成本 (FC) 在短期内不随产量变化（如租金）；即使产量为零也依然存在。
Variable costs (VC) change with the level of output (e.g., raw materials); total cost = FC + VC.
可变成本 (VC) 随产量水平变化（如原材料）；总成本 = 固定成本 + 可变成本。
Marginal cost (MC) is the change in total cost from producing one additional unit; MC = ΔTC / ΔQ.
边际成本 (MC) 是多生产一单位产品所引起的总成本变化量；MC = ΔTC / ΔQ。
Perfect competition is a market structure with many small firms, identical products, free entry and exit, and firms are price-takers. In the long run, firms earn zero economic profit.
完全竞争 是一种市场结构，具有众多小企业、同质产品、自由进出市场等特征，企业是价格接受者。长期中企业获得零经济利润。
Shut-down point in the short run occurs when price falls below average variable cost (P < AVC); the firm minimizes losses by shutting down.
短期停业点 发生在价格低于平均可变成本 (P < AVC) 时；企业通过停止生产来最小化损失。
7. Imperfect Competition | 不完全竞争市场
Monopoly is a market with a single seller, high barriers to entry, and significant price-setting power; the monopolist produces where MR = MC and charges a price above MC.
垄断 是只有一个卖者、进入壁垒高且拥有显著定价权的市场；垄断者在MR = MC处生产，并收取高于边际成本的价格。
Monopolistic competition features many firms selling differentiated products, some price-setting power, and zero economic profit in the long run due to free entry.
垄断竞争 的特色是许多企业出售差异化产品，具有一定的定价权，并且由于自由进入，长期经济利润为零。
Oligopoly is a market dominated by a few large firms; mutual interdependence and strategic behavior are key, often analyzed with game theory.
寡头垄断 是由少数几家大企业主导的市场；相互依存和策略行为是关键特征，通常用博弈论分析。
Collusion occurs when rival firms cooperate to set prices or output, acting like a monopoly to maximize joint profits. It is often illegal.
共谋 发生在竞争企业之间合作设定价格或产量、像垄断者一样行动以最大化共同利润时。这通常是非法的。
Price discrimination is the practice of charging different prices to different consumers for the same good, based on willingness to pay, to capture consumer surplus.
价格歧视 是指根据不同消费者的支付意愿，对相同商品收取不同价格的做法，以攫取消费者剩余。
8. Factor Markets | 要素市场
Derived demand means that the demand for a factor of production (labor, capital) comes from the demand for the goods and services it helps produce.
派生需求 意味着对一种生产要素（劳动、资本）的需求来自对其所生产的最终产品和服务的需求。
Marginal revenue product (MRP) is the additional revenue from hiring one more unit of a factor; MRP = marginal product × marginal revenue. A firm hires until MRP = factor price.
边际收益产品 (MRP) 是多雇佣一单位要素所增加的额外收益；MRP = 边际产量 × 边际收益。企业雇佣要素直至MRP = 要素价格。
Marginal factor cost (MFC) is the extra cost of employing one more unit of a factor; in a perfectly competitive labor market, MFC equals the wage rate.
边际要素成本 (MFC) 是多雇佣一单位要素带来的额外成本；在完全竞争的劳动市场中，MFC等于工资率。
Monopsony is a labor market with a single dominant employer; the monopsonist faces an upward-sloping labor supply curve, so MFC > wage, and hires fewer workers at a lower wage than a competitive market.
买方垄断 是只有一个主导雇主的劳动市场；买方垄断者面临向上倾斜的劳动供给曲线，因此MFC > 工资，它雇佣的工人数量比竞争市场少，支付的工资也更低。
9. Market Failure and Externalities | 市场失灵与外部性
Market failure occurs when the free market fails to allocate resources efficiently, resulting in over- or under-production from society’s perspective.
市场失灵 发生在自由市场未能有效配置资源、从社会角度看导致生产过度或生产不足时。
Negative externality is a cost imposed on third parties not directly involved in a transaction (e.g., pollution); the market over-produces the good because private cost is lower than social cost.
负外部性 是指强加给未直接参与交易的第三方的成本（如污染）；由于私人成本低于社会成本，市场会过度生产该商品。
Positive externality is a benefit received by third parties (e.g., education); the market under-produces the good because private benefit is lower than social benefit.
正外部性 是第三方获得的收益（如教育）；由于私人收益低于社会收益，市场会生产不足。
Coase theorem suggests that if property rights are well-defined and transaction costs are low, private bargaining can solve externality problems without government intervention.
科斯定理 提出，如果产权界定清晰且交易成本很低，私人谈判可以在没有政府干预的情况下解决外部性问题。
10. Government Intervention and Public Goods | 政府干预与公共物品
Pigouvian tax is a per-unit tax equal to the external cost, designed to internalize a negative externality and achieve the socially optimal output.
庇古税 是一种与外部成本相等的单位税，旨在将负外部性内部化，达到社会最优产量。
Subsidy is a government payment that encourages production or consumption of a good with positive externalities; it shifts the supply curve rightward.
补贴 是政府为鼓励具有正外部性商品的生产或消费而支付的款项；它会使供给曲线向右移动。
Public goods are non-rival (one person’s use doesn’t reduce availability to others) and non-excludable (no one can be prevented from using them). Free-rider problem leads to under-provision by the market.
公共物品 具有非竞争性（一个人的使用不会减少他人可用的数量）和非排他性（无法阻止任何人使用）。搭便车问题导致市场供给不足。
Free-rider problem occurs when people can enjoy the benefits of a good without paying for it, making it difficult for private firms to earn profit and thus leading to under-provision.
搭便车问题 发生在人们无需付费即可享受商品收益的情况下，这使得私人企业难以盈利，从而导致供给不足。
Lorenz curve graphically represents income distribution; its bowed shape away from the diagonal line of perfect equality shows inequality, with the Gini coefficient measuring the area between the two.
洛伦兹曲线 以图形方式显示收入分配；其偏离绝对平等对角线的弓形形状表明了不平等，基尼系数衡量两者之间的面积。
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