📚 Year 10 Eduqas Economics: Vocabulary & Terminology Quick-Memorisation Guide | Eduqas 经济学术语速记指南
Economics can feel like a foreign language when you first encounter terms like ‘opportunity cost’ or ‘price elasticity of demand’. This guide is designed to help Year 10 Eduqas students build a solid vocabulary foundation by grouping essential terms into logical clusters, offering simple memory hooks, and reinforcing each concept with bilingual explanation. By the end, you will be able to recall definitions quickly and apply them confidently in exam-style questions.
经济学初看起来就像一门陌生的语言，满是“机会成本”“需求价格弹性”这类术语。这份指南专为学 Eduqas 课程的 Year 10 学生编写，通过将核心词汇分组、提供简单易记的记忆钩子，并用双语解释每个概念，帮助你打好词汇基础。读完以后，你就能快速复述定义，在考试类题目中自信应用。
1. The Basic Economic Problem: Scarcity & Choice | 基本经济问题：稀缺与选择
The fundamental economic problem is scarcity: human wants are unlimited, but resources like land, labour, and capital are finite. This forces individuals, firms, and governments to make choices about how to allocate resources. A useful memory hook is ‘Scarce resources = choices’. Think of a pizza with only 8 slices but 10 hungry classmates — you can’t satisfy everyone.
基本经济问题就是稀缺性：人类的欲望无穷，但土地、劳动力、资本等资源有限。这迫使个人、企业和政府就如何分配资源做出选择。一个有用的记忆钩子是“稀缺资源 = 必须选择”。想象一个只有 8 块切片的披萨，却有 10 个饿肚子的同学——你没法满足所有人。
Opportunity cost is the next-best alternative forgone when a choice is made. If you spend an hour studying economics instead of playing video games, the opportunity cost is the enjoyment you would have gained from gaming. Always ask: ‘What did I give up?’
机会成本是做了某个选择后，放弃掉的次优替代选项。如果你用一小时学经济学而非打游戏，那么机会成本就是你从游戏中能获得的乐趣。永远自问：“我放弃了什么？”
These two ideas are constantly tested in Eduqas papers, both as multiple-choice questions and as part of data-response tasks. Knowing them inside out is non-negotiable.
这两个概念在 Eduqas 试卷中反复出现，包括选择题和数据分析题，务必吃透。
2. Factors of Production & Their Rewards | 生产要素及其报酬
Resources are categorised as land, labour, capital, and enterprise. Each factor earns a corresponding income: rent for land, wages for labour, interest for capital, and profit for enterprise. Use the sentence ‘Landlords earn Rent, Workers earn Wages, Capitalists earn Interest, Entrepreneurs earn Profit’ (remember the first letters).
资源分为土地、劳动力、资本和企业才能。每种要素获得相应的收入：土地得到租金，劳动力得到工资，资本得到利息，企业才能得到利润。用这句话记：“地主拿租金，工人拿工资，资本家拿利息，企业家拿利润”（英文首字母 L-R, L-W, C-I, E-P）。
Labour refers not just to manual work but to any human effort, mental or physical, used in production. Capital means man-made goods that help produce other goods, like machinery or factory buildings; it does not mean money in economics.
劳动力不仅指体力劳动，还包括生产中所有脑力或体力的人类努力。资本在经济学中指帮助生产其他产品的人造物品，如机器或厂房；而不是指金钱。
A common exam pitfall is confusing capital with money. Remember: ‘Money buys capital, but it is not capital itself.’ This distinction will save you marks on definition questions.
常见考试陷阱是把资本与金钱混为一谈。记住：“金钱购买资本，但本身不是资本。”这个区分能在定义题中帮你拿分。
3. Markets & The Price Mechanism | 市场与价格机制
A market is any place or mechanism that brings together buyers and sellers to exchange goods or services. It does not have to be a physical location; online platforms like eBay are markets too. The price mechanism describes how prices adjust to balance demand and supply without a central planner — the ‘invisible hand’ in action.
市场是任何将买家和卖家聚集在一起交换商品或服务的场所或机制。不一定是实体地点，如 eBay 这样的在线平台也是市场。价格机制描述的是价格如何在没有中央计划者的情况下自发调整，使供需平衡——这就是“看不见的手”在起作用。
When demand for a product rises, price tends to rise, signalling producers to supply more. If supply increases, price tends to fall, encouraging consumers to buy more. The three key functions of the price mechanism are signalling, incentive, and rationing. Recall SIR: Signalling, Incentive, Rationing.
当产品需求上升时，价格倾向于上升，向生产者发出增加供应的信号。如果供应增加，价格往往下跌，鼓励消费者多买。价格机制的三大功能是信号功能、激励功能和配给功能。记忆方法：SIR——信号、激励、配给。
Rationing means that scarce goods go to those most willing and able to pay. It is not about fairness; it is about allocating resources effectively. Learn to recognise these functions in scenario-based questions.
配给意味着稀缺商品流向那些最愿意且有能力支付的人。这不关乎公平，而关乎有效分配资源。要能在情景题中识别这些功能。
4. Demand, Supply & Equilibrium | 需求、供给与均衡
Demand is the quantity of a good or service consumers are willing and able to buy at various prices over a period. The law of demand states that, ceteris paribus, as price falls, quantity demanded rises. Memorise ‘Consumers buy more when it’s cheaper’.
需求是消费者在一段时间内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，在其他条件不变的前提下，价格下跌则需求量上升。记住：“便宜时就多买”。
Supply is the quantity producers are willing and able to sell. The law of supply: as price rises, quantity supplied rises. ‘Higher price = more profit motive to produce.’
供给是生产者愿意并能够出售的数量。供给定律：价格升高，供给量也升高。“高价格 = 更多生产动力”。
Equilibrium occurs where demand equals supply, and there is no tendency for change. Market diagrams nearly always ask students to identify the equilibrium price and quantity. Practise shifting demand or supply curves left and right to see how equilibrium changes. Use the phrase ‘shift left, less; shift right, more’ to remember the effect on quantity.
均衡发生在需求等于供给且无变化趋势时。市场图表几乎都要求学生识别均衡价格和数量。练习将需求或供给曲线左右移动，观察均衡如何变化。用“左移减少，右移增加”记住对数量的影响。
5. Elasticity: Price, Income & Cross | 弹性：价格弹性、收入弹性和交叉弹性
Price elasticity of demand (PED) measures how responsive quantity demanded is to a change in price. Formula: PED = %Δ quantity demanded ÷ %Δ price. If PED > 1, demand is elastic (luxury goods, many substitutes). If PED < 1, demand is inelastic (necessities, few substitutes).
需求价格弹性（PED）衡量需求量对价格变化的反应程度。公式：PED = 需求量变动百分比 ÷ 价格变动百分比。若 PED > 1，需求富有弹性（奢侈品，替代品多）；若 PED < 1，需求缺乏弹性（必需品，替代品少）。
A simple memory trick: ‘Elastic = stretchy, so quantity stretches a lot when price changes.’ Draw a rubber band in your mind. For inelastic, think of a brick — hardly any stretch.
简单记忆法：“弹性就像橡皮筋，价格一变，数量伸展很多。”想象一根橡皮筋。而缺乏弹性则像一块砖——几乎没伸展。
Price elasticity of supply (PES) works similarly but for producers. Income elasticity of demand (YED) tells us how demand changes with income; normal goods have positive YED, inferior goods have negative YED. Cross elasticity of demand (XED) shows how the demand for one good responds to a price change in another: positive for substitutes, negative for complements.
供给价格弹性（PES）类似，但从生产者角度。需求收入弹性（YED）反映需求随收入的变化；正常商品 YED 为正，劣质商品 YED 为负。需求交叉弹性（XED）体现一种商品需求对另一种商品价格变动的反应：替代品为正，互补品为负。
Eduqas papers often include basic elasticity calculations. Always remember to ignore minus signs for PED — treat the absolute value. And never mix up formula components; a quick definition check can save several marks.
Eduqas 试卷经常要求进行基础弹性计算。PED 计算永远忽略负号——取绝对值。切勿混淆公式成分；快速核对定义就能保住好几分。
6. Market Failure & Externalities | 市场失灵与外部性
Market failure occurs when the free market does not allocate resources efficiently. The main causes include externalities, public goods, information failures, and monopoly power. Think of it as the market ‘failing’ to deliver the best outcome for society.
市场失灵发生在自由市场无法有效配置资源时。主要原因包括外部性、公共品、信息不充分和垄断势力。可以理解为市场“失灵”了，无法给社会带来最佳结果。
Externalities are spillover effects on third parties. Negative externalities, like pollution, impose costs on others (social cost > private cost). Positive externalities, like vaccination, bring benefits beyond the individual (social benefit > private benefit). Use the phrase ‘Third-party washout’ to recall that externalities affect someone not involved in the transaction.
外部性是对第三方的溢出效应。负外部性如污染，给他人带来成本（社会成本 > 私人成本）。正外部性如疫苗接种，给个人以外的人带来收益（社会收益 > 私人收益）。用“第三方受波及”来回忆外部性影响了未参与交易的人。
Merit goods and demerit goods are closely related. Merit goods (education, healthcare) are under-consumed if left to the market; demerit goods (tobacco, alcohol) are over-consumed. Think ‘Merit = More for society’s benefit; Demerit = Dangerous over-consumption.’
优值品和劣值品与此紧密相关。优值品（教育、医疗）若放任市场会被消费不足；劣值品（烟草、酒精）会被过度消费。记法：“优值品——社会受益更多；劣值品——危险过量。”
7. Macroeconomic Aims & Indicators | 宏观经济目标与指标
Governments pursue four main macroeconomic objectives: low and stable inflation, low unemployment, steady economic growth, and a satisfactory balance of payments. Think of the acronym G.I.U.B. (Growth, Inflation, Unemployment, Balance of payments). Actually, a better mnemonic is ‘Big PIG’ rearranged: Prices stable, Inflation low, Growth steady, and Balance of payments near equilibrium — but you can create your own.
政府追求四大宏观经济目标：低且稳定的通货膨胀、低失业率、稳定的经济增长和合意的国际收支。可记忆为“物价稳、通胀低、增长稳、收支平衡”。
Gross Domestic Product (GDP) is the total value of all final goods and services produced within a country in a year. Real GDP adjusts for inflation, making it a better measure of true growth. Inflation means a sustained rise in the general price level, not just a one-off increase.
国内生产总值（GDP）是一国一年内所生产的所有最终产品与劳务的总价值。实际 GDP 剔除了通胀因素，更能衡量真实增长。通货膨胀是指一般物价水平持续上升，而非一次性上涨。
Unemployment rate measures those actively seeking work but unable to find it. Balance of payments records all transactions between residents of one country and the rest of the world, split into current account and capital/financial account. The current account covers trade in goods, services, and income flows; a deficit means a country is spending more abroad than it earns.
失业率衡量那些积极寻找工作但找不到的人数比例。国际收支记录一国居民与世界其他地区之间的所有交易，分为经常账户和资本/金融账户。经常账户涵盖商品、服务和收益流动；赤字意味着该国在海外的支出超过其收入。
8. Fiscal & Monetary Policy | 财政政策与货币政策
Fiscal policy involves using government spending and taxation to influence the economy. Expansionary fiscal policy (lower taxes/higher spending) boosts demand; contractionary policy (higher taxes/lower spending) cools it down. Remember ‘Fiscal = Financed by the government’ or ‘Fiscal = Federal budget’.
财政政策涉及利用政府支出和税收来影响经济。扩张性财政政策（减税/增加支出）刺激需求；紧缩性政策（增税/减少支出）给经济降温。记忆：“财政 = 政府财源”。
Monetary policy is the control of interest rates and money supply, usually managed by a central bank. Lower interest rates encourage borrowing and spending; higher rates discourage them. The three core monetary tools are interest rate changes, quantitative easing, and reserve requirements. Use the phrase ‘Money policy is monetary policy’ to link it to the central bank.
货币政策是对利率和货币供应的控制，通常由中央银行管理。降低利率鼓励借贷和消费；提高利率则抑制。三个核心货币工具是利率调整、量化宽松和准备金要求。用“货币 = 货币政策”来将它和中央银行联系。
Direct taxes are levied on income and wealth (income tax, corporation tax); indirect taxes are on spending (VAT, excise duties). A progressive tax takes a larger percentage from higher incomes, while a regressive tax takes a larger percentage from lower incomes.
直接税针对收入和财富征收（所得税、公司税）；间接税针对支出（增值税、消费税）。累进税对高收入者征收更高比例，而累退税对低收入者征收更高比例。
Eduqas often asks students to evaluate the effectiveness of these policies in achieving macroeconomic aims. Learn to link a policy instrument to an objective: for instance, an increase in income tax (fiscal) may reduce inflation but could slow growth.
Eduqas 经常要求学生评价这些政策在实现宏观经济目标时的有效性。要学会将政策工具与目标联系起来：例如，提高所得税（财政）可能降低通胀，但也会拖累增长。
9. International Trade & Globalisation | 国际贸易与全球化
Free trade is the exchange of goods and services between countries without tariffs, quotas, or other barriers. Protectionism, in contrast, shields domestic industries through tariffs (taxes on imports), quotas (volume limits), and subsidies. The mnemonic ‘T.Q.S. – Tariffs, Quotas, Subsidies’ is easy to recall.
自由贸易是国家间无关税、配额或其他壁垒的商品和服务交换。而保护主义则通过关税（对进口品征税）、配额（数量限制）和补贴来保护国内产业。记忆 T.Q.S.——关税、配额、补贴。
Comparative advantage explains why countries specialise and trade even when one is more efficient in producing all goods. If Country A can produce both wine and cloth with fewer resources than Country B, it still benefits from trading if it focuses on what it produces relatively best. This is a core Eduqas concept: the ability to produce a good at a lower opportunity cost than another country.
比较优势解释了即便一国在所有商品生产上都更有效率，为何仍然要专业化并进行贸易。如果 A 国生产酒和布都比 B 国使用的资源少，但专注于生产其相比之下最有优势的产品，双方仍能从贸易中获益。比较优势就是一国能以比他国更低的机会成本生产某种商品。
Terms of trade measure the rate at which one country’s exports exchange for imports. An improvement means a country can buy more imports for a given volume of exports. Globalisation is the growing integration of economies worldwide through trade, investment, and technology flows. Remember: ‘Globalisation = Goods and people moving more freely’.
贸易条件衡量一国出口商品对进口商品的交换比率。改善意味着给定出口量能换回更多的进口品。全球化是通过贸易、投资和技术流动使全球经济日益一体化的过程。记忆：“全球化 = 商品与人移动更自由。”
10. Exchange Rates & Balance of Payments | 汇率与国际收支
An exchange rate is the price of one currency in terms of another. A stronger pound means UK exports become more expensive for foreign buyers, while imports become cheaper. Use the phrase ‘Stronger Pound buys more Abroad, but hurts Exports’ — think SPE.
汇率是一种货币用另一种货币表示的价格。英镑走强意味着英国出口对外国买家来说变贵了，而进口变便宜了。记住：“强势英镑买更多外国货，但伤出口”（英文 SPE: Strong Pound, Shrinks Exports）。
Fluctuations in exchange rates affect the current account of the balance of payments. If the pound weakens, exports become cheaper and imports more expensive, which may improve the current account deficit over time. This is known as the Marshall-Lerner condition in more advanced analysis, but at Year 10 level just remember the direction of change.
汇率波动影响国际收支的经常账户。若英镑走弱，出口变便宜、进口变贵，随着时间推移可能改善经常账户逆差。这背后是马歇尔-勒纳条件，不过 Year 10 阶段只需记住变化方向。
Fixed exchange rate systems are pegged by a central bank, while floating rates are determined by market forces. Most major currencies float. To recall the difference: ‘Fixed = gov′t Fixes it; Floating = Free to Float.’
固定汇率制由中央银行钉住，而浮动汇率由市场力量决定。主要货币多采用浮动汇率。区分方法：“固定 = 政府钉住；浮动 = 自由浮动。”
11. Production, Productivity & Costs | 生产、生产率与成本
Production converts inputs into outputs. Productivity measures output per unit of input, like output per worker per hour. Increasing productivity is vital for economic growth. Memory aid: ‘Productivity = more from less.’
生产是将投入转化为产出。生产率衡量每单位投入的产出，比如每名工人每小时的产出。提高生产率对经济增长至关重要。记忆：“生产率 = 用更少产更多。”
Fixed costs do not vary with output (rent, salaries); variable costs change with production (raw materials). Total cost = fixed cost + variable cost. Average cost is total cost divided by quantity produced. As output rises, average fixed cost falls continuously because the same fixed sum is spread over more units.
固定成本不随产出变动（租金、固定工资）；可变成本随产量变化（原材料）。总成本 = 固定成本 + 可变成本。平均成本是总成本除以产量。产出增加时，平均固定成本持续下降，因为固定总额被分摊到更多单位上。
Economies of scale are cost advantages that arise when a firm increases its scale of production, leading to lower average costs. Diseconomies of scale occur when firms become too large and average costs start to rise. Think ‘Scale brings savings — until it gets too clumsy.’
规模经济是当企业扩大生产规模时获得的成本优势，导致平均成本下降。规模不经济则发生在企业过于庞大，平均成本开始上升时。理解为：“规模带来节省——直到变得笨拙。”
12. Revision & Exam Tips for Vocabulary Retention | 词汇记忆与考试技巧
Active recall beats passive reading. Write key terms on flashcards with the English term on one side and the Chinese definition on the other, then test yourself daily. Spaced repetition — reviewing terms at increasing intervals — embeds vocabulary in long-term memory.
主动回忆比被动阅读有效。把关键词写在小卡片上，一面英文，一面中文定义，每天自测。间隔重复——按越来越大的间隔复习——把词汇嵌入长期记忆。
Group related words into mind maps. For instance, draw a central bubble ‘Demand’ and branch out to ‘law of demand’, ‘PED’, ‘YED’, ‘shift factors’. Visual links strengthen recall under exam pressure.
把相关单词归入思维导图。例如，中心气泡“需求”分出“需求定律”“PED”“YED”“移动因素”等。视觉联系能在考试压力下加强回忆。
Finally, practise using terminology in full sentences. Eduqas examiners look for accurate application, not just memorised definitions. When answering a question, highlight the economic term and then immediately explain it in context. This demonstrates real understanding and secures top marks.
最后，练习在完整句子中使用术语。Eduqas 考官看重准确运用，而非仅仅记忆定义。答题时，标出经济术语随即在语境中解释它。这展示出真正理解力，确保拿到高分。
Published by TutorHao | Economics Revision Series | aleveler.com
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