📚 Year 10 AQA Economics: Key Terms & Definitions Quick Revision Guide | Year 10 AQA 经济：词汇术语速记指南
Mastering the key terminology is essential for success in AQA GCSE Economics. This guide highlights the most important terms you will encounter in Year 10, with clear definitions and examples to help you memorise them effectively for your exams.
掌握关键术语对 AQA GCSE 经济学考试至关重要。本文速记指南精选了 Year 10 课程中最核心的词汇，提供清晰定义和示例，帮助你在考试中高效记忆和运用。
1. The Basic Economic Problem | 基本经济问题
Scarcity refers to the fundamental economic problem of having limited resources but unlimited wants. Because we cannot have everything, we must make choices.
稀缺性 指资源有限而欲望无限这一基本经济问题。由于无法拥有一切，我们必须做出选择。
The Economic Problem arises because resources are finite and needs/wants are infinite. It forces societies to decide what, how, and for whom to produce.
经济问题 源于资源有限和需求无限，迫使社会决定生产什么、如何生产以及为谁生产。
Choice is the act of selecting among alternatives. Every choice involves a trade-off and an opportunity cost.
选择 是在不同选项之间做决定。每个选择都涉及权衡取舍和机会成本。
Trade-off means sacrificing one good or service to obtain more of another. It is a direct consequence of scarcity.
权衡取舍 指为获得更多某种商品或服务而牺牲另一种，这是稀缺性的直接后果。
2. Factors of Production | 生产要素
Land includes all natural resources used in production, such as minerals, forests, water, and land itself. The reward for land is rent.
土地 涵盖用于生产的所有自然资源，如矿产、森林、水资源和土地本身。土地的报酬是地租。
Labour refers to the human effort (physical and mental) used in production. The reward for labour is wages/salaries.
劳动 指生产中投入的人类体力和脑力努力。劳动的报酬是工资/薪金。
Capital includes man-made goods used to produce other goods and services, such as machinery, tools, and factories. The reward for capital is interest.
资本 包括用于生产其他商品和服务的人造物品，如机器、工具和厂房。资本的报酬是利息。
Enterprise is the willingness to take risks to combine the other factors of production to create goods and services. The reward for enterprise is profit.
企业精神/企业家才能 指愿意承担风险，将其他生产要素结合起来创造商品和服务的能力。其报酬是利润。
Factor mobility describes how easily factors of production can be moved from one use to another. Land is geographically immobile; labour may be occupationally immobile.
生产要素流动性 描述生产要素从一种用途转移到另一种用途的难易程度。土地在地理上难以流动，劳工可能存在职业流动性不足。
3. Opportunity Cost | 机会成本
Opportunity cost is the value of the next best alternative forgone when an economic choice is made. It is a central concept in economics because it forces us to consider what is given up.
机会成本 指在做出经济选择时所放弃的次优选项的价值。它是经济学的核心概念，因为它迫使人们考虑放弃的东西。
Example: If a government spends £1 million on building a new hospital, the opportunity cost may be the schools or roads it could have built instead.
例子：如果政府花费100万英镑建造新医院，机会成本可能就是本可建造的学校或公路。
Free goods are abundant and have no opportunity cost (e.g. air, sunlight). Economic goods are scarce and have an opportunity cost (e.g. a car, education).
免费品 丰富而无机会成本（如空气、阳光）。经济品 具有稀缺性，因此有机会成本（如汽车、教育）。
4. Demand | 需求
Demand is the quantity of a good or service that consumers are willing and able to buy at various prices over a given period.
需求 指消费者在一定时期内，在不同价格水平下愿意并能够购买的商品或服务数量。
Law of Demand: As the price of a product rises, the quantity demanded falls, and vice versa (ceteris paribus).
需求定律：在其他条件不变的情况下，价格上升，需求量下降；价格下降，需求量上升。
Extension/Contraction in demand: Movement along the demand curve caused by a change in price. A price fall causes an extension (increase in QD); a price rise causes a contraction (decrease in QD).
需求量的扩张/收缩：由价格变化引起的沿需求曲线的移动。价格下降导致需求量扩张（增加）；价格上升导致需求量收缩（减少）。
Shifts of demand: A whole shift of the demand curve to the right (increase) or left (decrease) caused by non-price factors: income, tastes, prices of related goods (substitutes/complements), advertising, population, etc.
需求曲线的移动：由非价格因素引起的整个需求曲线向右（增加）或向左（减少）移动。这些因素包括收入、偏好、相关商品价格（替代品/互补品）、广告、人口等。
Substitutes: goods bought in place of others (tea and coffee). Complements: goods bought together (printers and ink).
替代品：可相互替代的商品（茶和咖啡）。互补品：需一起使用的商品（打印机和墨盒）。
5. Supply | 供给
Supply is the quantity of a good or service that producers are willing and able to offer for sale at different prices over a given period.
供给 指生产者在特定时间段内，在不同价格水平下愿意并能够出售的商品或服务数量。
Law of Supply: As price rises, quantity supplied rises; as price falls, quantity supplied falls (ceteris paribus).
供给定律：在其他条件不变时，价格上升，供给量上升；价格下降，供给量下降。
Extension/contraction in supply: movements along the supply curve due to price changes. Shifts in supply: rightward shift = increase in supply; leftward shift = decrease, caused by factors such as costs of production, technology, taxes, subsidies, weather, number of producers.
供给量扩张/收缩：由价格变化引起的沿供给曲线移动。供给曲线移动：向右移动表示供给增加，向左表示供给减少，原因包括生产成本、技术、税收、补贴、天气、生产商数量等。
Factor causing supply shift – Productivity: higher productivity reduces costs, shifting supply right.
导致供给移动的因素 – 生产率：生产率提高会降低成本，使供给曲线右移。
6. Price Determination and Equilibrium | 价格决定与均衡
Equilibrium price is the price at which quantity demanded equals quantity supplied. It is where the demand and supply curves intersect. There is no tendency for change.
均衡价格 指需求量与供给量相等时的价格，即需求曲线与供给曲线的交点，此时市场没有变动趋势。
Excess demand (shortage): occurs when price is below equilibrium – quantity demanded > quantity supplied, leading to price being bid up.
超额需求（短缺）：当价格低于均衡水平时，需求量大于供给量，价格会被推高。
Excess supply (surplus): occurs when price is above equilibrium – quantity supplied > quantity demanded, causing price to fall.
超额供给（过剩）：当价格高于均衡点时，供给量大于需求量，价格会下降。
Market forces act to bring price back to equilibrium whenever there is a disequilibrium.
市场力量 会在失衡时使价格回归均衡。
7. Price Elasticity of Demand (PED) | 需求价格弹性
Price elasticity of demand (PED) measures the responsiveness of quantity demanded to a change in price.
需求价格弹性（PED） 衡量需求量对价格变化的反应程度。
PED = (%Δ Quantity Demanded) ÷ (%Δ Price)
If PED > 1, demand is elastic: quantity demanded changes by a greater percentage than price. If PED < 1, demand is inelastic.
若 PED > 1，需求富有弹性：需求量变动百分比大于价格变动百分比。若 PED < 1，需求缺乏弹性。
Factors affecting PED: availability of substitutes, necessity vs luxury, proportion of income spent, time period.
影响需求价格弹性的因素：替代品的可获得性、必需品还是奢侈品、支出占收入的比例、时间长短。
Total revenue test: for elastic demand, a price rise reduces total revenue;
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