📚 Year 11 Edexcel Economics: Key Terms Quick Revision Guide | Year 11 Edexcel 经济学：词汇术语速记指南
Mastering key economic terms is essential for Year 11 Edexcel Economics. This revision guide presents must-know vocabulary with clear definitions and catchy memory aids, alternating English and Chinese to reinforce understanding. Each section covers a core topic area and its critical terms, helping you build strong recall fast.
掌握关键经济学术语是 Year 11 Edexcel 经济学的基础。本速记指南为你提供必背词汇、清晰定义和易记口诀，采用英文与中文交替讲解的方式，强化理解。每个板块聚焦一个核心主题及其重要术语，帮助你快速建立牢固的记忆。
1. Scarcity and Choice | 稀缺性与选择
Scarcity is the fundamental economic problem: finite resources cannot satisfy all unlimited human wants.
稀缺性是根本经济问题：有限的资源无法满足所有无限的人类欲望。
Because of scarcity, we must make choices, and each choice involves an opportunity cost – the value of the next best alternative forgone.
由于稀缺性，我们必须做出选择，而每个选择都涉及机会成本——即所放弃的次优选项的价值。
The four factors of production are land, labour, capital and enterprise.
四种生产要素是土地、劳动力、资本和企业家才能。
Memory trick: Think of ‘CELL’ – Capital, Enterprise, Land, Labour. Although the order is scrambled, ‘CELL’ sticks in your mind and retrieves all four factors instantly.
记忆窍门： 联想 “CELL”（细胞）——资本(Capital)、企业家才能(Enterprise)、土地(Land)、劳动力(Labour)。虽然顺序打乱，但 “CELL” 容易记住，能立刻唤起四个要素。
2. Demand and Supply | 需求与供给
Demand is the quantity of a good that consumers are willing and able to purchase at each price over a period of time, ceteris paribus.
需求是在一定时期内、其他条件不变的情况下，消费者在各个价格水平上愿意且能够购买的商品数量。
Supply is the quantity that producers are willing and able to offer for sale at each price.
供给是生产者在各个价格水平上愿意且能够提供的商品数量。
Equilibrium occurs where demand equals supply. A shift in the demand curve is caused by factors like income, tastes, and prices of substitutes/complements. Use the acronym ‘PIRATES’ to recall demand shifters: Population, Income, Related goods (substitutes/complements), Advertising, Tastes, Expectations, Seasons.
当需求量等于供给量时达到均衡。需求曲线的移动由收入、偏好、替代品/互补品价格等因素引起。可用首字母缩略词 “PIRATES” 记忆需求移动因素：人口(Population)、收入(Income)、相关商品(Related goods)、广告(Advertising)、偏好(Tastes)、预期(Expectations)、季节性(Seasons)。
Supply shifters are often remembered as ‘PINTS’: Productivity, Indirect taxes, Number of firms, Technology, Subsidies.
供给移动因素常用 “PINTS” 记忆：生产力(Productivity)、间接税(Indirect taxes)、企业数量(Number of firms)、技术(Technology)、补贴(Subsidies)。
3. Price Elasticity | 价格弹性
Price elasticity of demand (PED) measures how responsive quantity demanded is 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
PED = 需求量变化百分比 ÷ 价格变化百分比
If PED > 1, demand is elastic – consumers are very responsive to price changes. If PED < 1, demand is inelastic. If PED = 1, demand is unit elastic. When PED = 0, demand is perfectly inelastic; when PED = ∞, perfectly elastic.
若 PED > 1，需求富有弹性——消费者对价格变化反应强烈；PED < 1 则缺乏弹性；PED = 1 为单位弹性；PED = 0 完全无弹性；PED = ∞ 完全弹性。
Price elasticity of supply (PES) follows a similar logic: responsiveness of quantity supplied to price changes. A quick recall rule is that more time to adjust makes supply more elastic.
供给价格弹性（PES）逻辑类似：供给量对价格变化的反应程度。快速记忆法则：调整时间越长，供给弹性越大。
4. Market Failure | 市场失灵
Market failure happens when the free market fails to achieve an allocatively efficient outcome, causing a net social welfare loss.
市场失灵是指自由市场无法实现配置效率，导致社会净福利损失。
Externalities are spill-over effects on third parties. Negative externalities (e.g. pollution from factories) cause over-production; positive externalities (e.g. vaccinations) cause under-production if left to the market.
外部性是对第三方的溢出效应。负外部性（如工厂污染）导致过度生产；正外部性（如疫苗接种）若由市场自行决定则会导致生产不足。
Public goods are non-rival and non-excludable, such as street lighting or national defence. Because no one can be excluded from using them, private firms do not provide them at an efficient level, leading to the free‑rider problem.
公共物品具有非竞争性和非排他性，例如路灯或国防。由于无法排除任何人使用，私人企业不会高效提供，从而产生“搭便车”问题。
Memory aid: ‘NON’ – Non‑rival, Non‑excludable. Public goods are NON–excludable and NON–rival.
记忆法： “NON”——非竞争性和非排他性。公共物品就是“NON”属性。
5. Macroeconomic Objectives | 宏观经济目标
Governments typically pursue four main macroeconomic objectives: low and stable inflation, low unemployment, steady economic growth, and a satisfactory balance of payments on the current account.
政府通常追求四大宏观经济目标：低且稳定的通货膨胀、低失业率、稳定的经济增长以及令人满意的经常账户收支平衡。
A common mnemonic is ‘BIG U’: Balance of payments, Inflation, Growth, Unemployment. Some also add ‘E’ for environment or equality, but for Edexcel GCSE keep the core four in mind.
常用记忆口诀是 “BIG U”：国际收支(Balance of payments)、通货膨胀(Inflation)、经济增长(Growth)、失业(Unemployment)。有时还会加上环境或公平，但Edexcel GCSE主要掌握这四个核心目标。
6. GDP and Economic Growth | GDP 与经济增长
Gross Domestic Product (GDP) is the total monetary value of all finished goods and services produced within a country’s borders in one year.
国内生产总值（GDP）是一国境内一年内生产的所有最终商品与服务的货币总值。
Real GDP is adjusted for inflation, allowing comparison over time. GDP per capita divides GDP by the population, giving a rough measure of living standards.
实际 GDP 已经剔除了通胀影响，可用于跨年度比较。人均 GDP 是 GDP 除以人口数，用于粗略衡量生活水平。
Economic growth means an increase in a country’s productive capacity, often measured by the percentage change in real GDP. It is not the same as development, which includes health and education quality.
经济增长是指一国生产能力的提高，通常用实际 GDP 的百分比变化来衡量。它不同于经济发展，后者还包含健康和教育质量等维度。
7. Inflation | 通货膨胀
Inflation is a sustained rise in the general price level, reducing the purchasing power of money. It is usually measured by the Consumer Price Index (CPI).
通货膨胀是物价总水平的持续上涨，会削弱货币的购买力，通常用消费者价格指数（CPI）衡量。
Demand‑pull inflation occurs when excess demand chases too few goods. Cost‑push inflation arises when the costs of production (e.g. wages, raw materials) increase, pushing prices up.
需求拉动型通货膨胀是由于需求过大而商品供应不足；成本推动型通货膨胀是生产成本（如工资、原材料）上升推高了物价。
Memory tip: ‘Demand pulls, costs push.’ Think of demand pulling prices up, while rising costs push prices up from the supply side.
记忆技巧： “需求拉，成本推。” 想象需求把价格拉上去，而成本从供给端把价格推上去。
8. Unemployment | 失业
The unemployment rate is the percentage of the labour force that is willing and able to work but cannot find a job.
失业率是劳动力中愿意且有能力工作但找不到工作的人口所占的百分比。
Unemployment Rate = (Unemployed ÷ Labour Force) × 100
失业率 = (失业人数 ÷ 劳动力总数) × 100
Major types of unemployment include cyclical (due to a downturn in the business cycle), structural (mismatch of skills), frictional (between jobs), and seasonal (e.g. tourism‑only work). Remember the first letters: C‑S‑F‑S.
失业的主要类型包括周期性（经济周期下行）、结构性（技能不匹配）、摩擦性（换工作期间）和季节性（如仅旅游季工作）。记住首字母 C‑S‑F‑S。
9. Fiscal Policy | 财政政策
Fiscal policy involves the use of government spending and taxation to influence aggregate demand and achieve macroeconomic goals.
财政政策是政府运用支出和税收来影响总需求、实现宏观经济目标的手段。
Expansionary fiscal policy – increasing government spending and/or cutting taxes – boosts demand and is used during a recession. Contractionary fiscal policy – cutting spending and/or raising taxes – cools an overheating economy.
扩张性财政政策——增加政府支出和/或减税——能够刺激需求，通常在经济衰退时使用。紧缩性财政政策——削减支出和/或增税——用于给过热的经济降温。
The budget balance shows the difference between government revenue and expenditure. A deficit means spending exceeds revenue; a surplus means revenue exceeds spending.
预算平衡反映政府收入与支出的差额。赤字表示支出大于收入；盈余表示收入大于支出。
10. Monetary Policy | 货币政策
Monetary policy uses interest rates and the money supply to control inflation and stabilise the economy. In the UK, the Bank of England’s Monetary Policy Committee sets the base rate.
货币政策通过调节利率和货币供应量来控制通胀、稳定经济。在英国，英格兰银行货币政策委员会负责设定基准利率。
Lowering interest rates makes borrowing cheaper and saving less attractive, stimulating spending and investment. Raising rates does the opposite, dampening demand and easing inflationary pressure.
降低利率使借贷更便宜、储蓄吸引力下降，从而刺激消费和投资。提高利率则相反，抑制需求、缓解通胀压力。
Quantitative easing (QE) is an unconventional tool where the central bank buys government bonds to inject liquidity directly into the financial system.
量化宽松（QE）是非常规工具，央行通过购买政府债券直接向金融体系注入流动性。
11. International Trade and Exchange Rates | 国际贸易与汇率
International trade is the exchange of goods and services across borders. Exports bring money into a country; imports send money out. The balance of trade is the value of exports minus imports.
国际贸易是商品和服务跨越国境的交换。出口为国家带来收入，进口则付出资金。贸易差额是出口额减去进口额。
An exchange rate is the price of one currency expressed in another. Appreciation means the currency becomes stronger (buys more foreign currency); depreciation means it becomes weaker.
汇率是一种货币以另一种货币表示的价格。升值意味着本币变强（能兑换更多外币）；贬值意味着本币变弱。
A strong pound makes imports cheaper but exports more expensive for foreign buyers – remember ‘Stronger currency, cheaper imports, dearer exports.’
英镑走强会使进口商品更便宜，但出口对外国买家来说更昂贵——记住“货币越强，进口越便宜，出口越昂贵”。
12. Globalisation and Multinationals | 全球化与跨国公司
Globalisation is the increasing economic integration and interdependence of countries through trade, investment and technology.
全球化是各国通过贸易、投资和技术日益加深经济一体化和相互依赖的过程。
Multinational corporations (MNCs) are firms that produce or sell in more than one country. They bring investment, jobs and technology, but may also cause job losses in home countries and exploit low-cost labour.
跨国公司（MNCs）是指在多个国家进行生产或销售的企业。它们能带来投资、就业和技术，但也可能导致母国就业流失和低成本劳动力剥削。
A quick way to remember advantages of MNCs is ‘JIT’: Jobs, Investment, Technology. Disadvantages: ‘LICE’ – Loss of local businesses, Inequality, Cultural erosion, Environmental damage.
记忆 MNC 优点的速记词是 “JIT”：就业、投资、技术。缺点可用 “LICE”：本地企业受损、不平等、文化侵蚀、环境破坏。
Published by TutorHao | Economics Revision Series | aleveler.com
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