📚 Vocabulary Terminology Quick Memorisation Guide for Year 7 Cambridge Economics | Year 7 剑桥经济：词汇术语速记指南
Welcome to this quick memorisation guide for Year 7 Cambridge Economics! Building a strong vocabulary is the first step to thinking like an economist. This article will help you learn, understand and remember the key terms from scarcity to trade. Let’s dive into the world of economics with simple explanations and memory tricks.
欢迎来到 Year 7 剑桥经济学的词汇速记指南！建立扎实的词汇基础是像经济学家一样思考的第一步。本文将帮助你学习、理解并记住从稀缺性到贸易的关键术语。让我们通过简单的解释和记忆技巧，一起走进经济学的世界。
1. Scarcity and Choice | 稀缺性与选择
Scarcity is the basic economic problem. It means that we have limited resources, but our wants are unlimited. For example, there is only a finite amount of oil, land and time, yet people always want more goods, services and leisure. Because of scarcity, we cannot have everything we desire, so we must make choices. A choice involves selecting one option over others. When you decide to spend your pocket money on a video game instead of a cinema ticket, you have made a choice. Economists study how people, businesses and governments make these choices to allocate scarce resources efficiently.
稀缺性是基本的经济问题。它意味着我们的资源有限，但欲望无限。例如，石油、土地和时间都是有限的，然而人们总想要更多的商品、服务和休闲。由于稀缺性，我们无法拥有一切渴望的东西，因此必须做出选择。选择意味着从众多选项中挑选一个。当你决定把零花钱花在电子游戏上而不是电影票上，你就做出了选择。经济学家研究个人、企业和政府如何做出这些选择，以有效分配稀缺资源。
To remember SCARCITY, use the acronym: Some Choices Always Require Careful Investigation and Thought. This reminds you that scarcity forces us to think carefully before deciding.
要记住稀缺性，可以使用缩写：Some Choices Always Require Careful Investigation and Thought。这提醒你，稀缺性迫使我们在决策前谨慎思考。
2. Needs and Wants | 需要与欲望
Needs are things that are necessary for survival, such as food, clean water, shelter and clothing. Wants are things we would like to have but are not essential for staying alive, like smartphones, toys and holiday trips. In economics, understanding the difference between needs and wants helps to explain how people prioritise their spending. When resources are scarce, individuals must satisfy needs before wants.
需要是生存所必需的事物，如食物、洁净水、住所和衣物。欲望是我们想要拥有但对生存并非不可或缺的东西，比如智能手机、玩具和度假旅行。在经济学中，理解需要与欲望之间的区别有助于解释人们如何安排支出的优先顺序。当资源稀缺时，个人必须首先满足需要，然后才考虑欲望。
A simple memory aid: ‘N’ in Needs stands for ‘Necessary’, whereas ‘W’ in Wants stands for ‘Wishful’. This mental link can speed up your recall in exams.
一个简单的记忆法：Needs 中的 ‘N’ 代表 ‘Necessary’（必需的），而 Wants 中的 ‘W’ 代表 ‘Wishful’（渴望的）。这样的思维联系可以让你在考试中更快地回忆起来。
3. Opportunity Cost | 机会成本
Opportunity cost is the value of the next best alternative that you give up when making a choice. It is a key concept because every decision has a trade-off. For instance, if a student has one hour before bed and chooses to revise economics instead of playing video games, the opportunity cost is the enjoyment and relaxation that the gaming would have provided. The cost is not the money spent, but the forgone benefit of the missed option.
机会成本是你做出选择时所放弃的次优替代选项的价值。这是一个关键概念，因为每个决策都涉及权衡。例如，如果一个学生在睡前有一小时，选择复习经济学而不是玩电子游戏，那么机会成本就是玩游戏本可以带来的乐趣和放松。成本不是花掉的钱，而是被放弃选项的收益。
Think of OPPORTUNITY COST as ‘The Cost Of Sacrificed Thing’ (C.O.S.T.). This phrase captures the essence: you always sacrifice something to gain something else.
可以将机会成本记作 ‘The Cost Of Sacrificed Thing’（所牺牲事物的成本），缩写 C.O.S.T.。这句话抓住了本质：你总是要牺牲某些东西来换取另一些东西。
4. Goods and Services | 商品与服务
Goods are tangible products that you can touch and see, such as textbooks, fruit and shoes. Services are intangible activities performed for you, like a haircut, a bus ride or a doctor’s check-up. The key distinction is tangibility. Another way to differentiate them is that goods can be stored for future use, while services are consumed at the point of production. Production of both goods and services uses factors of production.
商品是你可以触摸和看见的有形产品，比如教科书、水果和鞋子。服务是为你完成的无形活动，如理发、搭公交车或医生检查。关键区别在于有形性。另一种区分方法是，商品可以储存起来以备将来使用，而服务在生产的同时就被消费了。商品和服务的生产都需要使用生产要素。
Memory trick: ‘Goods you can drop on your foot; Services you cannot.’ The silly image of dropping a book on your toe makes the concept stick.
记忆小窍门：’Goods you can drop on your foot; Services you cannot.’ （商品可以砸在脚上；服务却不能。）想象一本书砸到脚趾的有趣画面，会让概念记忆更牢。
5. Factors of Production | 生产要素
Factors of production are the resources used to create goods and services. They are commonly grouped into four categories: land, labour, capital and enterprise. Land includes all natural resources such as soil, water, forests and minerals. Labour refers to human effort, both physical and mental, involved in production. Capital consists of man-made tools, machinery, factories and infrastructure used to produce other goods. Enterprise is the ability to combine the other three factors, take risks and innovate to start businesses.
生产要素是用于创造商品和服务的资源。它们通常分为四类：土地、劳动、资本和企业家才能。土地包括所有自然资源，如土壤、水、森林和矿藏。劳动是指生产过程中投入的人类体力和脑力努力。资本由人造的工具、机器、工厂和基础设施组成，用于生产其他商品。企业家才能是指将其他三种要素结合起来、承担风险并创新以开创事业的能力。
To memorise the four factors, use the word C.E.L.L. — Capital, Enterprise, Land, Labour. Imagine a ‘CELL’ as the basic building block of an economy, just as a biological cell is to life.
要记住这四种要素，可以用单词 C.E.L.L.——资本（Capital）、企业家才能（Enterprise）、土地（Land）、劳动（Labour）。把经济想象成一个由 ‘CELL’ 构成的基本单元，就像生物细胞之于生命一样。
6. Consumers and Producers | 消费者与生产者
Consumers are individuals or groups who purchase goods and services to satisfy their wants. Producers are the people or businesses that make and supply those goods and services. In a simple economy, households act as consumers, while firms take the role of producers. Consumers pay money to producers, and producers pay wages, rent and profits back to households, creating a circular flow of income.
消费者是购买商品与服务以满足欲望的个人或群体。生产者是制造并供应这些商品与服务的人或企业。在一个简单的经济体中，家庭充当消费者，企业则扮演生产者的角色。消费者向生产者支付货币，生产者将工资、租金和利润付回给家庭，形成收入的循环流动。
Remember the pair: Consumer ‘consumes’ (starts with C), and Producer ‘provides’ (starts with P). Link C with ‘customer’ and P with ‘provider’.
记住这一对：消费者消费（Consumer ‘consumes’，以 C 开头），生产者提供（Producer ‘provides’，以 P 开头）。将 C 与顾客（customer）联系，P 与提供者（provider）联系。
7. Supply and Demand | 供给与需求
Demand refers to the quantity of a good or service that consumers are willing and able to buy at different prices over a period of time. The law of demand states that, ceteris paribus, as the price rises, the quantity demanded falls. Supply is the quantity that producers are willing to offer for sale at various prices. The law of supply says that higher prices usually encourage higher quantity supplied because producers can earn more profit.
需求指的是在一段时间内，消费者在不同价格下愿意并能够购买的商品或服务数量。需求定律指出，在其他条件不变的情况下，价格上升，需求量下降。供给是生产者在不同价格下愿意出售的数量。供给定律表明，价格越高，供给量通常越大，因为生产者能获得更多利润。
Visualise the supply and demand curves: the demand curve slopes downward (think D for Down), while the supply curve slopes upward (S for Sky). Use the phrase ‘Demand Drops, Supply Soars’ as a quick reminder.
想象供求曲线：需求曲线向下倾斜（想到 D 代表 Down 向下），而供给曲线向上倾斜（想到 S 代表 Sky 天空，向上）。用短语 ‘Demand Drops, Supply Soars’（需求降，供给升）来快速提示。
8. Price and Market | 价格与市场
Price is the amount of money a buyer pays a seller for a good or service. It acts as a signal in an economy. A market is any arrangement that brings buyers and sellers together to exchange. It can be a physical place like a shopping mall or an online platform. The equilibrium price, often called the market-clearing price, is where the quantity demanded equals the quantity supplied, so there is no surplus or shortage.
价格是买方向卖方支付商品或服务的金额。它在经济中起着信号的作用。市场是将买卖双方聚集在一起进行交换的任何安排，可以是像购物中心这样的实体场所，也可以是在线平台。均衡价格，通常称为市场出清价格，是需求量与供给量相等时的价格，此时既无过剩也无短缺。
To remember the term ‘market’, think of it as a place where people ‘meet to exchange’ — ‘market’ sounds like ‘meet’. The word ‘price’ can be linked to ‘pay right at the counter’.
要记住 ‘market’（市场）一词，可以想象成人们 ‘meet to exchange’（相聚交换）的地方——’market’ 发音近似 ‘meet’。而 ‘price’（价格）可以与 ‘pay right at the counter’（在柜台立即支付）联系起来。
9. Money and Barter | 货币与物物交换
Before money existed, people relied on barter — the direct exchange of one good for another. Barter requires a double coincidence of wants, meaning each person must have what the other wants. Money solves this inefficiency by serving as a medium of exchange, a unit of account, a store of value and a standard of deferred payment. Modern money includes coins, banknotes and digital balances. Money makes trade smoother and economies more efficient.
在货币出现之前，人们依赖物物交换——一种商品直接交换另一种商品。物物交换需要双方欲望的巧合，即每个人必须拥有对方想要的物品。货币通过充当交换媒介、计价单位、价值储藏和延期支付标准，解决了这种低效问题。现代货币包括硬币、纸币和数字余额。货币使
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