📚 Year 7 CCEA Economics: Vocabulary & Terminology Quick Memory Guide | 七年级 CCEA 经济学：词汇术语速记指南
Welcome to your Year 7 CCEA Economics glossary guide! Understanding the language of economics is like learning the rules of a new game. Once you know the key terms, you can analyse how people, businesses and governments make decisions. In this article, we present essential vocabulary with simple definitions, real-life examples and fun memory aids, all in a paired bilingual format to boost your revision.
欢迎阅读七年级 CCEA 经济学词汇指南！理解经济学的语言就像学习一个新游戏的规则。一旦你掌握了关键术语，你就能分析个人、企业和政府如何做出决策。本文通过简单定义、生活实例和有趣的记忆法，以中英对照的形式帮助你巩固复习。
1. Scarcity and Choice | 稀缺与选择
Scarcity is the basic economic problem. It means that the resources we have are limited, but our wants are unlimited. For example, a country only has a certain amount of oil, land, and labour, yet people want more goods and services than these can produce. Because of scarcity, we cannot have everything we desire, so we must make choices.
稀缺是基本的经济问题。这意味着我们拥有的资源是有限的，而我们的欲望是无限的。例如，一个国家只有一定数量的石油、土地和劳动力，但人们想要的商品和服务超过了这些资源所能生产的。由于稀缺，我们不能拥有想要的一切，因此必须做出选择。
Resources are the inputs used to create goods and services. They are often classified as the four factors of production: land, labour, capital and enterprise. Wants are the desires people have for goods and services that make life more enjoyable but are not essential for survival, such as designer clothes or holidays.
资源是用来创造商品和服务的投入。它们通常被归类为四种生产要素：土地、劳动、资本和企业家精神。欲望是人们对商品和服务的渴望，这些能让生活更愉快但不是生存所必需，例如名牌服装或假期。
A choice is made whenever we decide to use resources in one way rather than another. Because scarcity forces us to choose, every decision has a cost – giving up the next best alternative. Memory tip: Remember ‘Limited resources, unlimited wants’ – this is the heart of economics.
每当我们决定以某种方式而不是另一种方式使用资源时，都做出了一个选择。由于稀缺迫使我们做出选择，每个决定都有代价——放弃了次优选项。记忆技巧：记住“有限资源、无限欲望”——这是经济学的核心。
2. Needs and Wants | 需要与欲望
Needs are things we must have to survive, such as food, clean water, shelter, and basic clothing. Wants are things we would like to have but can live without, like a games console, a holiday, or the latest smartphone.
需要是我们生存必须拥有的东西，如食物、干净的水、住所和基本的衣物。欲望是我们想要但可以没有的东西，比如游戏机、假期或最新的智能手机。
The distinction can depend on circumstances. A warm winter coat is a need if you live in a cold climate; a designer-label coat is a want. Understanding this helps us make better choices with limited money.
这种区分取决于情况。如果你生活在寒冷气候，一件冬季保暖外套就是需要；而一件名牌外套则是欲望。理解这一点有助于我们在有限的金钱下做出更好的选择。
Memory trick: Think ‘Needs keep you alive, wants make life fun.’ Businesses often try to persuade us that our wants are really needs, so stay alert!
记忆窍门：记住“需要让你活着，欲望让生活有趣”。商家常常试图说服我们，我们的欲望其实是需要，所以要保持警惕！
3. Goods and Services | 商品与服务
Goods are tangible items you can see, touch and own. Examples include a book, a bicycle, a pen, or an apple. Services are intangible activities done for you, such as a haircut, a bus journey, a doctor’s check-up, or a lesson from a teacher.
商品是你可以看见、触摸和拥有的有形物品。例如一本书、一辆自行车、一支笔或一个苹果。服务是为您执行的无形活动，如理发、乘公交车、医生检查或教师授课。
Some products combine both. A restaurant meal provides the goods (the food) and the service (cooking and serving). In economics, we also distinguish free goods (like air, available without limit) from economic goods (scarce, so they command a price).
有些产品两者兼具。餐厅用餐提供了商品（食物）和服务（烹饪与上菜）。在经济学中，我们还区分免费物品（如空气，无限可得）与经济物品（稀缺，因此有价格）。
Tip: If you can drop it on your foot, it’s probably a good. If you can’t, it’s probably a service. Simple!
窍门：如果能砸到你脚上，可能是商品；如果不能，那可能是服务。简单！
4. Factors of Production | 生产要素
Land includes all natural resources: soil, water, minerals, forests, and fish in the sea. The reward for land is rent.
土地包括所有自然资源：土壤、水、矿产、森林和海洋中的鱼类。土地的报酬是地租。
Labour is the human effort used in production, both physical (like building a wall) and mental (like planning a lesson). The reward for labour is wages or salaries.
劳动是生产中的人力投入，包括体力（如砌墙）和脑力（如备课）。劳动的报酬是工资或薪金。
Capital refers to man-made resources used to produce other goods and services, such as machinery, tools, factories, and computers. The reward for capital is interest.
资本是指用于生产其他商品和服务的人造资源，如机器、工具、厂房和电脑。资本的报酬是利息。
Enterprise is the skill of an entrepreneur who brings together land, labour and capital, taking risks to start a business. The reward is profit. Remember the four factors with the initials C-E-L-L (Capital, Enterprise, Land, Labour) or the phrase ‘Little Learners Can Excel’.
企业家精神是将土地、劳动和资本结合起来，承担风险创办企业的才能。报酬是利润。你可以用“CELL” (Capital, Enterprise, Land, Labour) 或句子“Little Learners Can Excel”来记忆这四种要素。
5. 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 not all the things you sacrifice, only the one best alternative you forgo.
机会成本是做出选择时所放弃的次优选项的价值。它不是放弃的所有东西，仅仅是你放弃的那个最佳替代选项。
Example: You have one free hour. You can either study economics or play football with friends. If you choose to study, the opportunity cost is the fun and exercise you would have got from the football game.
例如：你有一个小时的空闲时间，可以选择学习经济学或与朋友踢足球。如果你选择学习，机会成本就是你踢足球本可获得的乐趣和锻炼。
A money example: You have £5 and decide to buy a sandwich instead of an ice cream. The opportunity cost is the enjoyment of the ice cream. Memory hook: ‘Opportunity cost is what you miss out on – the second-best choice.’
一个金钱例子：你有5英镑，决定买三明治而不是冰淇淋。机会成本就是冰淇淋带来的享受。记忆钩子：“机会成本就是你错过的东西——那个第二好的选择。”
6. Demand and Supply | 需求与供应
Demand is the quantity of a good or service that consumers are willing and able to buy at various prices, over a period of time. The law of demand states that when the price of a product falls, the quantity demanded increases (assuming other factors stay constant).
需求是消费者在不同价格下愿意并且能够购买的商品或服务数量（在一定时期内）。需求定律指出，当产品价格下降时，需求量增加（假设其他因素不变）。
Supply is the quantity of a good or service that producers are willing and able to offer for sale at various prices. The law of supply says that when the price rises, the quantity supplied increases, because higher prices can mean higher profits.
供给是生产者愿意并能够出售的商品或服务数量。供给定律指出，价格上涨时，供给量增加，因为更高的价格可能带来更高的利润。
For instance, if the price of cinema tickets drops, more people demand to see films. If the price of wheat rises, farmers plant more wheat to supply. Demand and supply together determine the market price.
例如，如果电影票价格下跌，更多人想看电影。如果小麦价格上涨，农民种植更多小麦供给。需求与供给共同决定市场价格。
7. Market and Price | 市场与价格
A market is any arrangement that allows buyers and sellers to exchange goods, services, or resources. It can be a physical place like a farmers’ market or a virtual space like an online auction. The key is interaction, not location.
市场是任何允许买卖双方交换商品、服务或资源的安排。它可以是实体场所如农贸市场，也可以是虚拟空间如在线拍卖。关键在互动，不在位置。
Price is the amount of money a buyer pays and a seller receives for a unit of a good or service. The equilibrium price is the price at which the quantity demanded equals the quantity supplied – the market ‘clears’, with no shortage or surplus.
价格是买者支付、卖者获得的一单位商品或服务的货币金额。均衡价格是需求量等于供给量时的价格——市场“出清”，没有短缺也没有剩余。
For example, if a toy is priced too high, not many people buy it (surplus). If priced too low, it sells out quickly (shortage). The market tends to move towards equilibrium. Memory: ‘Market clears where D meets S.’
例如，一个玩具定价过高，买的人不多（剩余）；定价过低，很快卖光（短缺）。市场会趋向均衡。记忆：“需求等于供给时市场出清。”
8. Money and its Functions | 货币及其职能
Money is anything that is generally accepted as a means of payment for goods, services, or debts. In the UK, this is mainly pounds and pence. Money has three main functions.
货币是被普遍接受为商品、服务或债务支付手段的任何东西。在英国，主要是英镑和便士。货币有三个主要职能。
Medium of exchange: Money allows us to trade without bartering. You give the shopkeeper money and receive bread; you do not need to find a shopkeeper who wants your old shoes.
交换媒介：货币使我们能够不用以物易物地交易。你把钱给店主并获得面包；你不需要寻找想要你旧鞋的店主。
Unit of account: Money measures the value of different items. We compare prices in pounds – a book costs £10 and a meal £15, so we know which is more expensive.
计价单位：货币衡量不同物品的价值。我们用英镑比较价格——一本书10英镑，一顿饭15英镑，我们就知道哪个更贵。
Store of value: Money can be saved and used later. You can put coins in a piggy bank today and spend them next month. Inflation can reduce this function, but it remains essential.
价值储存：货币可以储蓄并在以后使用。你今天把钱放进储蓄罐，下个月再花。通货膨胀会削弱这个职能，但依然至关重要。
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