📚 Year 13 SQA Economics: Key Terminology Quick-Study Guide | SQA Year 13 经济：关键术语速记指南
Mastering the language of economics is essential for success in Year 13 SQA Economics. This guide groups core terms by topic, providing clear English definitions paired with precise Chinese translations. Use it to review, test yourself, and build the confidence needed for essays and exam scenarios.
掌握经济学语言是 Year 13 SQA 经济课程成功的关键。本指南按主题整理了核心术语，提供清晰的英文定义和准确的中文翻译。用它来复习、自测，并培养在论文和考试场景中所需的信心。
1. Scarcity, Choice, and Opportunity Cost | 稀缺性、选择与机会成本
Scarcity – The fundamental economic problem that resources are finite while human wants are infinite, forcing choices.
稀缺性 – 基本的经济问题，资源有限而人的欲望无限，迫使人们做出选择。
Choice – The decision made by economic agents between alternative uses of scarce resources.
选择 – 经济主体在稀缺资源的替代用途之间所做的决定。
Opportunity cost – The value of the next best alternative forgone when a choice is made.
机会成本 – 做出一项选择时所放弃的次优选择的价值。
Trade-off – The idea that gaining more of one good requires giving up some of another.
权衡 – 要获得更多一种物品，就必须放弃一定量的另一种物品。
Ceteris paribus – Latin for ‘all other things being equal’; used to isolate the effect of one variable.
其他条件不变 – 拉丁语“其他一切均保持不变”，用于隔离一个变量的影响。
Economic model – A simplified representation of economic reality used to analyse and predict outcomes.
经济模型 – 对经济现实的简化表示，用于分析和预测结果。
2. Demand, Supply, and Market Equilibrium | 需求、供给与市场均衡
Demand – The quantity of a good or service consumers are willing and able to buy at various prices over a period, ceteris paribus.
需求 – 在其他条件不变的情况下，消费者在一定时期内、在不同价格水平下愿意且能够购买的商品或服务数量。
Law of Demand – There is an inverse relationship between price and quantity demanded, ceteris paribus.
需求定律 – 其他条件不变，价格与需求量之间呈反向关系。
Supply – The quantity of a good or service producers are willing and able to offer for sale at various prices over a period, ceteris paribus.
供给 – 其他条件不变，生产者在一定时期内、在不同价格水平下愿意且能够出售的商品或服务数量。
Law of Supply – There is a positive relationship between price and quantity supplied, ceteris paribus.
供给定律 – 其他条件不变，价格与供给量之间呈正相关关系。
Market equilibrium – The point where quantity demanded equals quantity supplied; there is no shortage or surplus.
市场均衡 – 需求量等于供给量的点，不存在短缺或过剩。
Excess demand (shortage) – When price is below equilibrium, quantity demanded exceeds quantity supplied.
超额需求（短缺） – 当价格低于均衡价格时，需求量超过供给量。
Excess supply (surplus) – When price is above equilibrium, quantity supplied exceeds quantity demanded.
超额供给（过剩） – 当价格高于均衡价格时，供给量超过需求量。
3. Elasticity | 弹性
Price elasticity of demand (PED) – Measures the responsiveness of quantity demanded to a change in price. Calculated as:
PED = %Δ Quantity Demanded ÷ %Δ Price
需求价格弹性 – 衡量需求量对价格变动的反应程度。计算公式为：
PED = 需求量变动百分比 ÷ 价格变动百分比
Income elasticity of demand (YED) – Measures how quantity demanded responds to changes in consumer income.
YED = %Δ Quantity Demanded ÷ %Δ Income
需求收入弹性 – 衡量需求量对消费者收入变动的反应程度。
YED = 需求量变动百分比 ÷ 收入变动百分比
Cross elasticity of demand (XED) – Measures how the demand for one good responds to a price change in another good.
XED = %Δ Quantity Demanded of Good A ÷ %Δ Price of Good B
需求交叉弹性 – 衡量一种商品的需求对另一种商品价格变动的反应程度。
XED = 商品A需求量变动百分比 ÷ 商品B价格变动百分比
Price elasticity of supply (PES) – Measures the responsiveness of quantity supplied to a change in price.
PES = %Δ Quantity Supplied ÷ %Δ Price
供给价格弹性 – 衡量供给量对价格变动的反应程度。
PES = 供给量变动百分比 ÷ 价格变动百分比
Elastic, inelastic, and unitary – Demand is elastic if |PED| > 1, inelastic if |PED| < 1, and unitary if |PED| = 1.
弹性、非弹性和单位弹性 – 若 |PED| > 1，需求为弹性；若 |PED| < 1，需求为非弹性；若 |PED| = 1，为单位弹性。
4. Market Failure and Government Intervention | 市场失灵与政府干预
Market failure – When the free market fails to allocate resources efficiently, resulting in a net social welfare loss.
市场失灵 – 自由市场未能有效配置资源，导致社会净福利损失。
Externalities – Spillover costs or benefits affecting third parties not directly involved in a transaction. Negative externalities impose external costs; positive externalities generate external benefits.
外部性 – 影响未直接参与交易的第三方的溢出成本或收益。负外部性带来外部成本；正外部性产生外部收益。
Public goods – Goods that are non-excludable and non-rivalrous, leading to the free rider problem. Examples: street lighting, national defence.
公共品 – 具有非排他性和非竞争性的物品，导致搭便车问题。例如：路灯、国防。
Merit and demerit goods – Merit goods are under-consumed if left to the market (e.g., education), while demerit goods are over-consumed (e.g., alcohol).
优效品与劣效品 – 若由市场决定，优效品消费不足（如教育），劣效品消费过度（如酒精）。
Information failure – When consumers or producers lack full information to make optimal decisions, leading to misallocation.
信息失灵 – 消费者或生产者缺乏充分信息以做出最优决策，导致资源错配。
Government intervention methods – Indirect taxes, subsidies, regulation, tradable pollution permits, state provision, and information campaigns.
政府干预方式 – 间接税、补贴、监管、可交易的排污许可证、国家供给和信息宣传。
Government failure – When intervention leads to a less efficient allocation of resources, often due to unintended consequences, high costs, or distorted incentives.
政府失灵 – 干预导致资源配置效率更低的情况，通常源于意外后果、高额成本或激励扭曲。
5. Market Structures | 市场结构
Perfect competition – Many firms, homogeneous products, free entry and exit, perfect information. Firms are price takers.
完全竞争 – 众多厂商、同质产品、自由进出、完全信息。厂商是价格接受者。
Monopoly – A single firm dominates the market, with high barriers to entry. It is a price maker and may earn supernormal profits in the long run.
垄断 – 单一厂商主导市场，进入壁垒高。它是价格制定者，长期可获得超额利润。
Oligopoly – A market dominated by a few large firms; high concentration ratio, interdependent behaviour, often with non-price competition and potential collusion.
寡头垄断 – 少数大企业主导的市场；集中度高、行为相互依赖，常有非价格竞争和潜在合谋。
Monopolistic competition – Many firms, differentiated products, low barriers to entry. Firms have some price-setting power but only earn normal profits in the long run.
垄断竞争 – 众多厂商、产品差异化、低进入壁垒。厂商有一定的定价能力，但长期只能获得正常利润。
Barriers to entry – Obstacles that prevent new firms from easily entering a market, such as legal patents, economies of scale, or brand loyalty.
进入壁垒 – 阻止新厂商轻易进入市场的障碍，如法律专利、规模经济或品牌忠诚度。
Contestable market – A market where entry and exit costs are very low, forcing incumbent firms to behave competitively even without many actual rivals.
可竞争市场 – 进入和退出成本极低的市场，即使没有大量实际竞争对手，也会迫使现有企业采取竞争行为。
6. Macroeconomic Indicators | 宏观经济指标
Gross Domestic Product (GDP) – The total monetary value of all final goods and services produced within a country’s borders in a given period.
国内生产总值 – 在一给定时期内，一国境内生产的所有最终产品和服务的货币总价值。
Real vs nominal GDP – Real GDP is adjusted for inflation, reflecting the true volume of output; nominal GDP is measured using current prices.
实际GDP与名义GDP – 实际GDP经通胀调整，反映真实的产出量；名义GDP按当前价格计算。
Inflation – A sustained increase in the general price level, commonly measured by the Consumer Price Index (CPI).
通货膨胀 – 一般价格水平的持续上升，通常用消费者价格指数（CPI）衡量。
Deflation – A sustained fall in the general price level, which can be harmful if it causes consumers to delay spending.
通货紧缩 – 一般价格水平的持续下降，如果导致消费者推迟支出则可能有害。
Unemployment rate – The percentage of the labour force that is actively seeking work but unable to find employment. Measured by the Labour Force Survey (LFS) or claimant count.
失业率 – 正在积极寻找工作但无法就业的劳动力所占百分比。通过劳动力调查（LFS）或申领人数衡量。
Balance of payments – A record of all financial transactions between a country and the rest of the world, comprising the current account, capital account, and financial account.
国际收支 – 一国与世界其他地区所有金融交易的记录，包括经常账户、资本账户和金融账户。
7. Macroeconomic Policies | 宏观经济政策
Fiscal policy – Government decisions on taxation and government spending to influence aggregate demand and achieve macroeconomic objectives.
财政政策 – 政府关于税收和政府支出的决策，用以影响总需求并实现宏观经济目标。
Monetary policy – Management of interest rates and the money supply by a central bank (e.g., the Bank of England) to control inflation and support growth.
货币政策 – 中央银行（如英格兰银行）对利率和货币供应量的管理，以控制通胀并支持增长。
Supply-side policy – Measures aimed at increasing the productive capacity of the economy by improving efficiency, productivity, and incentives (e.g., education, deregulation).
供给侧政策 – 通过提高效率、生产率和激励措施（如教育、放松管制）来增强经济生产能力的措施。
Automatic stabilisers – Fiscal mechanisms that work automatically to dampen economic fluctuations, such as progressive taxation and unemployment benefits.
自动稳定器 – 自动发挥作用的财政机制，以缓和经济波动，如累进税制和失业救济。
Crowding out – The idea that increased government borrowing can lead to higher interest rates, which then reduce private sector investment.
挤出效应 – 政府借贷增加可能导致利率上升，从而减少私人部门投资。
Quantitative easing (QE) – A non-conventional monetary policy where the central bank purchases government bonds and other financial assets to inject money into the economy.
量化宽松 – 一种非常规货币政策，中央银行购买政府债券和其他金融资产，以向经济注入资金。
8. International Trade and Globalisation | 国际贸易与全球化
Comparative advantage – The ability of a country to produce a good at a lower opportunity cost than another country, forming the basis for trade gains.
比较优势 – 一国以低于另一国的机会成本生产一种商品的能力，构成贸易获益的基础。
Absolute advantage – When a country can produce a good using fewer resources (or more efficiently) than another country.
绝对优势 – 一國能以比另一國更少的資源（或更高的效率）生产某种商品。
Terms of trade – The ratio of export prices to import prices; an improvement means a country can buy more imports for a given volume of exports.
贸易条件 – 出口价格与进口价格的比率；改善意味着给定出口量能购买更多进口商品。
Protectionism – The use of trade barriers such as tariffs, quotas, and subsidies to shield domestic industries from foreign competition.
保护主义 – 使用关税、配额和补贴等贸易壁垒来保护本国产业免受外国竞争。
Free trade area – A bloc where member countries eliminate internal trade barriers while maintaining their own external trade policies (e.g., USMCA).
自由贸易区 – 成员方消除内部贸易壁垒，但各自保持独立对外贸易政策的集团（例如，美墨加协定）。
Globalisation – The increasing integration of economies, cultures, and societies through trade, capital flows, technology, and migration.
全球化 – 通过贸易、资本流动、技术和移民，经济体、文化和社会日益融合的过程。
9. Exchange Rates and Balance of Payments | 汇率与国际收支
Exchange rate – The price of one currency expressed in terms of another. It can appreciate (rise in value) or depreciate (fall in value) under a floating system.
汇率 – 一种货币以另一种货币表示的价格。在浮动汇率制度下，货币可升值（价值上升）或贬值（价值下降）。
Fixed vs floating exchange rate – A fixed rate is pegged by the government; a floating rate is determined by market forces of supply and demand.
固定汇率与浮动汇率 – 固定汇率由政府钉住；浮动汇率由市场供求力量决定。
Current account – Part of the balance of payments recording trade in goods, services, primary income, and secondary income. A deficit means the value of imports exceeds exports.
经常账户 – 国际收支的一部分，记录货物、服务、初次收入和二次收入的贸易。赤字表示进口价值超过出口。
J-curve effect – In the short run, a depreciation may worsen the current account before improving it, because import and export volumes adjust slowly.
J曲线效应 – 短期内，货币贬值可能先使经常账户恶化，随后才改善，因为进出口量调整缓慢。
Marshall-Lerner condition – States that a devaluation will improve the current account only if the sum of the price elasticities of demand for imports and exports exceeds 1.
马歇尔-勒纳条件 – 指出只有当进口和出口的需求价格弹性之和大于1时，货币贬值才会改善经常账户。
Foreign direct investment (FDI) – Investment by a company based in one country into physical assets or production facilities in another country.
外国直接投资 – 一国企业向另一个国家的实物资产或生产设施进行的投资。
10. Economic Development and Sustainability | 经济发展与可持续性
Economic growth – An increase in the productive capacity of an economy, measured by the rate of change of real GDP.
经济增长 – 经济体生产能力的提升，以实际GDP的变化率衡量。
Economic development – A broader concept than growth, encompassing improvements in living standards, health, education, and reduced inequality.
经济发展 – 比增长更宽泛的概念，包括生活水平、健康、教育的改善以及不平等的减少。
Human Development Index (HDI) – A composite index combining life expectancy, mean years of schooling, and GNI per capita (PPP) to measure development.
人类发展指数 – 结合预期寿命、平均受教育年限和人均国民总收入（购买力平价）的综合指数，用以衡量发展。
Sustainable development – Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
可持续发展 – 既满足当代人需求，又不损害子孙后代满足其自身需求能力的发展。
Circular economy – An economic model aimed at minimising waste and making the most of resources through reuse, repair, and recycling.
循环经济 – 旨在通过再利用、修复和回收，最大限度减少浪费并充分利用资源的经济模式。
Negative output gap – When actual GDP is below potential GDP, indicating underused resources and possible deflationary pressure.
负产出缺口 – 实际GDP低于潜在GDP时，表明资源未充分利用，可能出现通缩压力。
Positive output gap – When actual GDP exceeds potential GDP, risking overheating and demand-pull inflation.
正产出缺口 – 实际GDP超过潜在GDP时，有经济过热和需求拉动型通胀的风险。
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