📚 Year 7 OCR Economics: Core Knowledge Summary | Year 7 OCR 经济：核心知识点梳理
Welcome to your Year 7 OCR Economics revision guide. Economics is about how people make choices when resources are limited. This article summarises the core knowledge you need to understand, from scarcity and opportunity cost to supply, demand and the role of money.
欢迎来到 Year 7 OCR 经济学复习指南。经济学研究人们在资源有限时如何做出选择。本文梳理了你需要掌握的核心知识点，从稀缺性和机会成本，到供给、需求和货币的作用。
1. What is Economics? | 什么是经济学？
Economics is the study of how individuals, businesses and governments make decisions about using limited resources to satisfy unlimited wants.
经济学研究个人、企业和政府如何决定使用有限的资源来满足无限的需求。
It helps us understand why we have to choose and how these choices affect our daily lives.
它帮助我们理解为什么必须做出选择，以及这些选择如何影响我们的日常生活。
2. Needs and Wants | 需要与欲望
Needs are essential things we require to survive, such as food, water, shelter and clothing.
需要是我们生存所必需的东西，比如食物、水、住所和衣物。
Wants are things we desire but can live without, like a new video game, a luxury car or a holiday abroad.
欲望是我们渴望但并非生存必需的东西，比如新电子游戏、豪车或海外度假。
3. Scarcity and Choice | 稀缺性与选择
Scarcity means that there are not enough resources to produce all the goods and services people want.
稀缺性意味着没有足够的资源来生产人们想要的所有商品和服务。
Because of scarcity, we must make choices about what to produce, how to produce it and who gets the output.
由于稀缺性，我们必须做出选择，决定生产什么、如何生产以及谁来获得产品。
4. Opportunity Cost | 机会成本
Opportunity cost is the value of the next best alternative you give up when making a choice.
机会成本是指做出选择时所放弃的次优选项的价值。
For example, if you spend your pocket money on a cinema ticket, the opportunity cost might be a book or a snack you could have bought instead.
例如，如果你用零花钱买了一张电影票，机会成本可能是你本可以购买的一本书或一份零食。
It reminds us that every decision involves a trade-off.
它提醒我们，每个决策都涉及权衡取舍。
5. Factors of Production | 生产要素
The resources used to produce goods and services are called factors of production. They are land, labour, capital and enterprise.
用于生产商品和服务的资源被称为生产要素，包括土地、劳动、资本和企业家精神。
Land includes all natural resources; labour is the human effort; capital refers to man-made tools and machinery; and enterprise is the ability to combine them to create value.
土地包括所有自然资源；劳动是指人的努力；资本指人造的工具和机器；企业家精神是组合这些要素创造价值的能力。
6. Goods and Services | 商品与服务
Goods are physical items that we can touch, such as a pair of shoes or a smartphone. Services are intangible activities provided by others, like haircuts, education and public transport.
商品是我们可以触摸的实物，比如一双鞋或一部智能手机。服务是他人提供的无形活动，如理发、教育和公共交通。
7. Supply and Demand | 供给与需求
Demand is the quantity of a good or service that consumers are willing and able to buy at different prices. Supply is the quantity that producers are willing and able to sell.
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的数量。供给是生产者愿意并且能够出售的数量。
When the price rises, demand usually falls (the law of demand) and supply often increases (the law of supply).
当价格上升时，需求量通常会下降（需求定律），而供给量往往会增加（供给定律）。
Price ‘ → Quantity Demanded ‘, Quantity Supplied ‘
价格 ↑ → 需求量 ↓，供给量 ↑
8. Markets and Prices | 市场与价格
A market is any place (physical or online) where buyers and sellers come together to exchange goods and services.
市场是买卖双方聚集交换商品和服务的任何地方（实体或线上）。
Prices in a market are determined by the interaction of supply and demand. If demand exceeds supply, prices tend to rise; if supply exceeds demand, prices tend to fall.
市场价格由供给和需求的相互作用决定。如果需求超过供给，价格趋于上涨；如果供给超过需求，价格趋于下跌。
9. Money and Its Functions | 货币及其职能
Money is anything that is widely accepted as a medium of exchange. It has four main functions: medium of exchange, unit of account, store of value and standard of deferred payment.
货币是被广泛接受作为交易媒介的任何事物。它有四大主要职能：交换媒介、计价单位、价值储藏和延期支付标准。
| Function | 中文职能 |
|---|---|
| Medium of exchange | 交换媒介 |
| Unit of account | 计价单位 |
| Store of value | 价值储藏 |
| Standard of deferred payment | 延期支付标准 |
10. Budgeting and Saving | 预算与储蓄
Budgeting is planning how to spend your money by balancing income and expenses. Saving means setting aside part of your income for future use instead of spending it all.
预算是指通过平衡收入和支出来规划如何使用金钱。储蓄意味着将部分收入留作将来使用，而不是全部花掉。
A simple budget helps avoid debt and achieve financial goals, such as buying a bicycle or funding further education.
一个简单的预算有助于避免债务，实现财务目标，比如购买自行车或支付继续教育的费用。
11. Economic Decision Making | 经济决策
Individuals, firms and governments constantly make economic decisions by weighing costs and benefits. This rational approach helps to maximise satisfaction or profit.
个人、企业和政府不断通过权衡成本和收益来做出经济决策。这种理性方法有助于最大化满足感或利润。
Using a decision-making model, like listing pros and cons, mirrors the concept of opportunity cost.
使用决策模型（如列出优缺点）反映了机会成本的概念。
12. Introduction to Trade | 贸易入门
Trade is the voluntary exchange of goods and services between people or countries. It allows specialisation, where each party focuses on what they produce most efficiently, and then trades for other needs.
贸易是个人或国家之间自愿交换商品和服务的行为。它允许专业化，各方专注于自己生产效率最高的产品，然后通过贸易满足其他需求。
Specialisation and trade increase overall output and make both parties better off, a key insight in economics.
专业化与贸易增加了总产出，使双方都变得更好，这是经济学的核心洞见。
Published by TutorHao | Economics Revision Series | aleveler.com
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