Year 13 Edexcel Economics: Rapid Memorisation Guide to Key Terms | Year 13 Edexcel 经济：词汇术语速记指南

📚 Year 13 Edexcel Economics: Rapid Memorisation Guide to Key Terms | Year 13 Edexcel 经济：词汇术语速记指南

Mastering Year 13 Economics requires not only analytical thinking but also fluent command of a large body of specialist terminology. This guide organises the essential terms from the Edexcel specification into themed clusters with clear definitions, memory hooks and bilingual explanations, helping you move from passive recognition to confident application in essays, data-response questions and multiple-choice tests.

掌握 Year 13 经济不仅需要分析思维，还需要流利运用大量专业术语。本指南将 Edexcel 考纲中的核心词汇按主题分组，提供清晰的定义、记忆线索和中英双语解释，帮助你在论文、数据分析题和选择题中从被动识别转向自信运用。

1. Market Structures and Contestability | 市场结构与可竞争性

Perfect competition exists where many firms sell identical products, no barriers to entry or exit, and all firms are price takers. The demand curve facing the firm is perfectly elastic at the market price.

完全竞争存在于许多企业销售同质产品、无进入或退出障碍且所有企业都是价格接受者的市场中。单个企业面对的需求曲线在市场均衡价格处具有完全弹性。

Monopolistic competition features many firms, differentiated products and low barriers to entry. In the long run, firms make only normal profit because new entrants erode supernormal profit.

垄断竞争的特点是有许多企业、产品差异化且进入壁垒低。长期中，企业只能获得正常利润，因为新进入者会侵蚀超额利润。

Oligopoly is a market dominated by a few interdependent firms. The kinked demand curve model predicts price rigidity, while game theory shows how collusion may break down in a prisoner’s dilemma.

寡头垄断是由少数几家相互依赖的企业主导的市场。弯折的需求曲线模型预测价格刚性，而博弈论则说明了合谋在囚徒困境中如何崩溃。

Pure monopoly means a single seller with high barriers to entry. The monopolist faces the market demand curve and can earn supernormal profits in both the short run and the long run.

纯粹垄断意味着只有一个卖家且存在高进入壁垒。垄断者面对整个市场需求曲线，并能在短期和长期均获得超额利润。

Contestability refers to the ease with which new firms can enter and exit a market. Even a monopoly may behave competitively if hit-and-run entry is possible.

可竞争性指新企业进入和退出市场的容易程度。即便是垄断企业，如果“打了就跑”的进入是可能的，也会表现得有竞争性。

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2. Business Objectives and Efficiency | 企业目标与效率

Profit maximisation occurs where marginal cost equals marginal revenue (MC = MR). However, real-world firms may pursue sales maximisation (AR = AC), revenue maximisation (MR = 0) or satisficing.

利润最大化发生在边际成本等于边际收益时 (MC = MR)。然而现实中企业可能追求销量最大化 (AR = AC)、收益最大化 (MR = 0) 或者满意化目标。

Productive efficiency means operating at the lowest point on the average cost curve. Allocative efficiency occurs where price equals marginal cost (P = MC), so resources follow consumer preferences.

生产效率意味着在平均成本曲线的最低点运营。配置效率发生在价格等于边际成本时 (P = MC)，此时资源跟随消费者偏好配置。

Dynamic efficiency refers to improvements in productive and allocative efficiency over time through innovation and investment. X-inefficiency arises when a firm lacks competitive pressure and allows costs to drift above the minimum achievable level.

动态效率指随时间通过创新和投资实现的生产效率和配置效率的改善。X无效率出现在企业因缺乏竞争压力而让成本高出最低可达成水平时。

Divorce of ownership from control occurs in large firms where managers may pursue their own goals rather than shareholder value, leading to principal-agent problems.

所有权与经营权分离出现在大企业中，管理者可能追求自身目标而非股东价值，导致委托—代理问题。

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3. Labour Market Economics | 劳动市场经济

The marginal revenue product of labour (MRPL) equals marginal product of labour multiplied by marginal revenue. A profit-maximising firm hires workers until MRPL = wage rate.

劳动的边际收益产品 (MRPL) 等于劳动的边际产品乘以边际收益。追求利润最大化的企业会雇佣工人直到 MRPL 等于工资率。

Elasticity of labour demand depends on the price elasticity of demand for the final product, the ease of substituting capital for labour, labour’s share of total costs and time period.

劳动需求弹性取决于最终产品的需求价格弹性、资本替代劳动的难易程度、劳动在总成本中的份额以及时间长短。

Monopsony is a labour market where a single buyer dominates. The monopsonist faces an upward-sloping labour supply curve and marginal cost of labour above the wage, leading to lower employment and lower wages than in a competitive market.

买方垄断是单个买方主导的劳动市场。买方垄断者面临的劳动供给曲线向上倾斜，边际劳动成本高于工资，导致就业人数和工资低于竞争性市场。

Trade unions can offset monopsony power and raise wages, but may cause unemployment if wages are pushed above the market-clearing level. Bilateral monopoly occurs when a union confronts a monopsonist employer.

工会可以抵消买方垄断力量并提高工资，但如果工资被推高到市场出清水平以上，可能导致失业。当工会面对买方垄断雇主时，就形成双边垄断。

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4. Competition Policy and Regulation | 竞争政策与监管

The Competition and Markets Authority (CMA) enforces UK competition law, investigating abuse of a dominant position, cartels and mergers that may significantly lessen competition.

竞争与市场管理局 (CMA) 执行英国竞争法，调查滥用市场支配地位、卡特尔以及可能显著削弱竞争的合并。

Price capping (e.g., RPI – X or RPI + K) limits how much a regulated firm can raise prices each year, incentivising cost efficiency while preventing excessive pricing.

价格上限监管（如 RPI – X 或 RPI + K）限制了受监管企业每年可提高价格的幅度，在防止过高定价的同时激励成本效率。

Windfall taxes and clawback mechanisms can recapture excessive profits made by privatised utilities, while yardstick competition compares regional monopolies to simulate competitive pressure.

暴利税和追回机制可以收回私有化公用事业获得的过高利润，而标尺竞争则通过比较地区垄断企业来模拟竞争压力。

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5. Macroeconomic Objectives and Conflicts | 宏观经济目标与冲突

The four key macroeconomic objectives are low and stable inflation, sustainable economic growth, low unemployment and a satisfactory balance of payments. Potential conflicts include the short-run Phillips curve trade-off between inflation and unemployment.

四大宏观经济目标是低而稳定的通胀、可持续的经济增长、低失业率和令人满意的国际收支。潜在冲突包括通胀与失业之间的短期菲利普斯曲线取舍。

Economic growth can be measured by the percentage change in real GDP. Short-run growth uses spare capacity, while long-run growth requires expanding the productive potential of the economy (shifting LRAS or PPF outward).

经济增长可用实际 GDP 的百分比变化衡量。短期增长利用闲置产能，长期增长则需要扩大经济的生产潜力（使 LRAS 或生产可能性曲线外移）。

Unemployment types include cyclical (demand-deficient), structural (mismatch of skills/locations), frictional (between jobs) and seasonal. The natural rate of unemployment exists even when the economy is at full capacity.

失业类型包括周期性（需求不足）、结构性（技能/地点错配）、摩擦性（转换工作之间）和季节性失业。即使经济处于充分产能，自然失业率依然存在。

Inflation is a sustained rise in the general price level. Demand-pull inflation arises from excess aggregate demand, while cost-push inflation is triggered by rising production costs (e.g., wages, raw materials).

通货膨胀是物价总水平的持续上升。需求拉动型通胀源于总需求过剩，成本推动型通胀则由生产成本上升（如工资、原材料）引发。

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6. The Financial Sector and Monetary Policy | 金融部门与货币政策

The Bank of England’s Monetary Policy Committee (MPC) sets Bank Rate to meet the 2% CPI inflation target. Changes in Bank Rate influence market interest rates, asset prices, expectations and the exchange rate.

英格兰银行货币政策委员会设定基准利率以实现 2% 的 CPI 通胀目标。基准利率的变化会影响市场利率、资产价格、预期和汇率。

Quantitative easing (QE) involves the central bank purchasing government bonds and other securities to inject liquidity, lower long-term yields and stimulate aggregate demand when policy rates are near zero.

量化宽松是指央行购买政府债券和其他证券以注入流动性、压低长期收益率并在政策利率接近零时刺激总需求。

Financial regulation aims to maintain systemic stability through capital adequacy ratios (Basel III), liquidity requirements and macroprudential tools such as countercyclical capital buffers.

金融监管旨在通过资本充足率（巴塞尔协议 III）、流动性要求和宏观审慎工具如逆周期资本缓冲来维持系统稳定。

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7. Fiscal Policy and Supply-Side Measures | 财政政策与供给侧措施

Fiscal policy uses government spending and taxation to manage aggregate demand. The budget position can be in deficit (spending > revenue), surplus (revenue > spending) or in balance. Automatic stabilisers (e.g., progressive taxes, welfare benefits) cushion the business cycle without discretionary action.

财政政策利用政府支出和税收来管理总需求。预算状况可以是赤字（支出 > 收入）、盈余（收入 > 支出）或平衡。自动稳定器（如累进税制、福利金）无需自由裁量行动即可缓冲经济周期。

The Laffer curve suggests that beyond a certain point, higher tax rates reduce tax revenue by discouraging work and investment. Crowding out occurs when increased government borrowing raises interest rates, reducing private sector investment.

拉弗曲线表明超过某一点后，更高的税率会因打击工作与投资积极性而减少税收。挤出效应指的是政府借款增加推高利率，从而减少私人部门投资。

Supply-side policies aim to raise productive potential. Market-based policies include deregulation, privatisation and trade liberalisation. Interventionist policies include education spending, infrastructure investment and R&D subsidies.

供给侧政策旨在提高生产潜力。市场导向政策包括放松管制、私有化和贸易自由化。干预主义政策包括教育支出、基础设施投资和研发补贴。

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8. International Trade and Protectionism | 国际贸易与保护主义

Comparative advantage (David Ricardo) explains why countries gain from specialisation even if one has an absolute advantage in all goods. The terms of trade measure the ratio of export prices to import prices; an improvement means a country can buy more imports for a given volume of exports.

比较优势（大卫·李嘉图）解释了为何即使一国在所有商品上拥有绝对优势，仍能从专业化中获益。贸易条件衡量出口价格与进口价格之比；贸易条件改善意味着一国用给定出口量能购买更多进口品。

Protectionist measures include tariffs (taxes on imports), quotas (quantity limits), subsidies to domestic producers and non-tariff barriers (regulations, standards). These shield domestic industries but create deadweight welfare loss.

保护主义措施包括关税（进口税）、配额（数量限制）、对国内生产者的补贴和非关税壁垒（法规、标准）。这些手段保护国内产业但造成无谓福利损失。

Trading blocs vary in depth: a free trade area (FTA) removes internal tariffs; a customs union adds a common external tariff; a single market also allows free factor movement; a monetary union shares a currency and monetary policy.

贸易集团深度不同：自由贸易区取消内部关税；关税同盟增加共同对外关税；单一市场还允许要素自由流动；货币联盟共享一种货币和货币政策。

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9. Exchange Rate Systems and the Balance of Payments | 汇率制度与国际收支

A floating exchange rate is determined by market forces of supply and demand. Depreciation (fall in value) makes exports cheaper and imports dearer, improving the current account if the Marshall-Lerner condition holds (sum of PED exports and imports > 1).

浮动汇率由市场供求力量决定。贬值（价值下跌）使出口更便宜、进口更贵，如果满足马歇尔—勒纳条件（出口和进口的需求价格弹性之和 > 1），则可改善经常账户。

In a fixed exchange rate system, the central bank intervenes to maintain a peg using foreign reserves and interest rate changes. A managed float allows some fluctuation within a band or under occasional intervention.

在固定汇率制度下，央行利用外汇储备和利率变动进行干预以维持钉住汇率。管理浮动允许在一定区间内波动或伴随偶尔干预。

The balance of payments consists of the current account (trade in goods and services, investment income, transfers), the capital and financial accounts. A current account deficit must be financed by a surplus on the financial account, reflecting net borrowing from abroad.

国际收支由经常账户（商品服务贸易、投资收入和转移）以及资本和金融账户构成。经常账户赤字必须由金融账户盈余融资，反映了从国外的净借款。

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10. Globalisation, Development and Poverty | 全球化、发展与贫困

Globalisation is the growing integration of economies through trade, capital flows, migration and technology. It can drive growth but also widen inequality within and between countries.

全球化是通过贸易、资本流动、迁移和技术实现的经济日益一体化。它可以推动增长，但也可能加剧国家内部和国家之间的不平等。

The Human Development Index (HDI) combines life expectancy, education (mean and expected years) and GNI per capita to measure development beyond GDP. The Lorenz curve and Gini coefficient illustrate income inequality.

人类发展指数 (HDI) 集合预期寿命、教育（平均和预期受教育年限）和人均国民总收入，衡量超越 GDP 的发展水平。洛伦兹曲线和基尼系数描绘收入不平等。

Poverty can be absolute (lacking basic necessities) or relative (income below a threshold, typically 60% of median household income). The poverty trap arises when benefits are withdrawn sharply as income rises, discouraging work.

贫困可分为绝对贫困（缺乏基本必需品）或相对贫困（收入低于门槛，通常为家庭收入中位数的 60%）。贫困陷阱发生在收入增加导致福利急剧撤销时，打击工作积极性。

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11. Emerging and Developing Economies’ Challenges | 新兴经济体与发展中经济体的挑战

Many developing countries face constraints such as low savings and investment (Harrod-Domar model), volatile primary commodity prices (Prebisch-Singer hypothesis), capital flight and debt overhang.

许多发展中国家面临储蓄与投资低迷（哈罗德—多马模型）、初级产品价格波动（普雷维什—辛格假说）、资本外逃和债务积压等制约。

Microfinance provides small loans to entrepreneurs lacking collateral, fostering small-scale enterprise. However, critics point to high interest rates and limited impact on structural poverty.

小额信贷为缺乏抵押品的企业家提供小额贷款，培育小规模企业。但有批评指出其利率高且对结构性贫困影响有限。

Foreign direct investment (FDI) can bring technology and skills, but may also lead to profit repatriation and market dominance by multinational corporations. Conditional aid packages (e.g., IMF structural adjustment) often require market liberalisation and fiscal austerity.

外国直接投资 (FDI) 可以带来技术和技能，但也可能导致利润汇回和跨国公司市场支配。附带条件的援助方案（如 IMF 结构调整）常常要求市场自由化和财政紧缩。

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12. Quick-Fire Glossary: Paired Terms with Memory Cues | 速查词汇表：配对术语附记忆线索

English Term	中文术语	Memory Cue
Adverse selection	逆向选择	Buyer/seller has hidden info before a deal (think “lemon” used-car market).
Moral hazard	道德风险	Behaviour changes after being insured – risky because protected.
Hot money flows	热钱流动	Short-term capital chasing interest rates – can reverse quickly.
Crowding in	挤入效应	Public infrastructure boosts private-sector confidence and investment.
Lorenz curve	洛伦兹曲线	The bellies on the curve show inequality: further from 45° line = more unequal.
Gini coefficient	基尼系数	0 = perfect equality, 1 = perfect inequality (A/(A+B) area ratio).
J-curve effect	J曲线效应	Trade balance worsens before improving after depreciation – contracts fixed in short run.
Marshall-Lerner condition	马歇尔—勒纳条件	Sum of PED(X) + PED(M) > 1 for depreciation to improve current account.
Forward guidance	前瞻性指引	Central bank signals future rate path to shape expectations.
Velocity of circulation	货币流通速度	How often money changes hands: V = Nominal GDP / Money supply.

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