📚 AS CIE Economics: Quick Guide to Memorising Key Terms | AS CIE 经济：关键术语速记指南
Mastering key economic terminology is the first step to success in CIE AS Economics. This guide provides memory shortcuts, mnemonics and crisp, exam-focused definitions to help you retain essential concepts and apply them accurately in your answers.
掌握关键经济学术语是 CIE AS 经济考试成功的第一步。本指南提供记忆捷径、助记术和精准的考点定义，帮助你牢记核心概念并在答题中准确运用。
1. Scarcity, Choice and Opportunity Cost | 稀缺性、选择与机会成本
The basic economic problem is scarcity: unlimited human wants against limited resources. Use the mnemonic ‘SCO’ to remember that Scarcity forces Choice, and every Choice has an Opportunity Cost — the next best alternative foregone.
基本经济问题是稀缺性：无限的人类欲望与有限的资源。使用缩写“SCO”来记住：稀缺性（Scarcity）迫使做出选择（Choice），每个选择都涉及机会成本（Opportunity Cost）——被放弃的次优选项。
When you see a production possibility curve (PPC), think of it as a ‘bowed-out’ summary of scarcity and trade-offs. All points on the curve show productive efficiency; movement along the curve illustrates opportunity cost.
当你看到生产可能性曲线（PPC）时，把它看作稀缺性和权衡取舍的“弓形”概括。曲线上所有点表示生产有效率；沿曲线的移动说明机会成本。
Furthermore, free goods are not scarce and have no opportunity cost (mnemonic: ‘Free = No Fee’), while economic goods do incur a cost.
此外，免费品不稀缺，没有机会成本（助记：“免费=无代价”），而经济品则有成本。
2. Factors of Production and Their Rewards | 生产要素及其报酬
Remember the four factors of production as ‘CELL’: Capital, Enterprise, Land, Labour. Their corresponding rewards can be memorised with the phrase ‘We RIP’: Wages for Labour, Rent for Land, Interest for Capital, Profit for Enterprise.
用“CELL”记住四种生产要素：资本、企业家才能、土地、劳动。其对应的报酬可以用“We RIP”来记：劳动得工资（Wages），土地得地租（Rent），资本得利息（Interest），企业家得利润（Profit）。
Note that enterprise is the human factor that organises the other three and takes risks. Profit acts as the incentive and reward for successful risk-taking.
注意企业家才能是组织另外三种要素并承担风险的人为因素。利润是对成功承担风险的激励和报酬。
Specialisation and division of labour (Adam Smith’s pin factory) raise productivity but can cause boredom. Link ‘division’ with ‘dividing tasks’.
专业化和劳动分工（亚当·斯密的别针工厂）提高生产率，但可能导致厌倦。将“分工”与“切分任务”关联。
3. Positive vs Normative Statements | 实证与规范陈述
Positive statements are factual and testable, dealing with ‘what is’. Think: ‘Positive = Proof exists’. Normative statements involve value judgements and ‘what ought to be’. Recall: ‘Normative sounds like normal opinion’.
实证陈述是事实性的、可检验的，涉及“是什么”。记法：“实证=有证据”。规范陈述包含价值判断和“应该是什么”。联想：“规范听起来像常规观点”。
Example: ‘A higher tax on cigarettes reduces smoking’ is positive. ‘The government should raise the tax on cigarettes’ is normative. The word ‘should’ is a handy signal.
例如：“提高香烟税减少吸烟”是实证的。“政府应该提高香烟税”是规范的。“should”一词是一个便捷的信号词。
4. Demand, Supply and Market Equilibrium | 需求、供给与市场均衡
Demand shift factors can be learned with ‘PIRATES’: Population, Income (normal vs inferior goods), Related goods’ prices (substitutes/complements), Advertising, Tastes, Expectations, Special events. A shift rightwards means an increase in demand at every price.
需求移动因素可用“PIRATES”记忆：人口、收入（正常品与低档品）、关联品价格（替代品/互补品）、广告、偏好、预期、特殊事件。曲线右移意味着在每个价格水平上需求增加。
Supply shifts are driven by ‘PINTS W/C’: Productivity, Indirect taxes, Number of firms, Technology, Subsidies, Weather, Costs of production. A tax shifts the supply curve to the left (decrease), while a subsidy shifts it right.
供给移动由“PINTS W/C”驱动：生产率、间接税、厂商数量、技术、补贴、天气、生产成本。税收使供给曲线左移（减少），而补贴使其右移。
Equilibrium occurs where quantity demanded equals quantity supplied. Excess supply (surplus) pushes price down; excess demand (shortage) pushes price up. Think of a ‘see-saw’ settling at the middle.
均衡出现在需求量等于供给量时。超额供给（过剩）压价，超额需求（短缺）抬价。想象一个“跷跷板”停在中点。
5. Price Elasticity of Demand (PED) | 需求的价格弹性
PED measures responsiveness of quantity demanded to a change in price. Formula:
PED衡量需求量对价格变化的反应程度。公式：
PED = %ΔQd / %ΔP
For memory, the determinants form ‘SPLAT’: Substitutes (more subs → elastic), Percentage of income (big-ticket items → elastic), Luxury or necessity (luxuries elastic, necessities inelastic), Addictive (addictive goods inelastic), Time period (longer time → more elastic).
决定因素构成“SPLAT”：替代品（替代越多越有弹性）、收入占比（大额支出弹性大）、奢侈品或必需品（奢侈品有弹性，必需品缺乏弹性）、成瘾性（成瘾品缺乏弹性）、时间周期（时间越长弹性越大）。
If PED > 1, demand is elastic and a price cut raises total revenue. If PED < 1, demand is inelastic and a price rise raises total revenue. Use the 'total revenue test': TR = P × Q.
如果 PED > 1，需求有弹性，降价增加总收入。如果 PED < 1，需求缺乏弹性，提价增加总收入。使用“总收入检验法”：TR = P × Q。
6. Price Elasticity of Supply (PES) | 供给的价格弹性
PES measures firms’ ability to increase Qs when price rises. The key influences are time period, spare capacity, stock levels and factor mobility — remember ‘TSSF’. Spare capacity and high stocks make supply more elastic.
PES 衡量价格上升时厂商增加供给量的能力。关键影响因素为时间周期、闲置产能、库存水平和要素流动性——记作“TSSF”。闲置产能和高库存使供给更富有弹性。
Agricultural goods often have low PES in the short run because you cannot instantly grow more crops. Manufactured goods tend to have more elastic supply if factories run below full capacity.
农产品短期供给弹性通常较低，因为不可能立即种出更多庄稼。工业品如果工厂未满负荷运转，供给往往更富有弹性。
7. Income Elasticity of Demand (YED) & Cross Elasticity (XED) | 需求的收入弹性与交叉弹性
YED = %ΔQd / %ΔIncome. Normal goods have positive YED; inferior goods have negative YED. Luxury goods have YED > 1, necessities 0 < YED < 1. Say 'Y for income: positive for normal, negative for inferior'.
YED = 需求量变动% / 收入变动%。正常品收入弹性为正，低档品为负。奢侈品 YED > 1，必需品 0 < YED < 1。记法：“Y 代表收入，正为正常，负为低档”。
XED = %ΔQd of good A / %ΔP of good B. Substitutes have positive XED (coke vs pepsi); complements have negative XED (coffee and sugar). Unrelated goods have XED near zero. Visualise ‘SUBstitute → Same sign’ (positive).
XED = A产品需求量变动% / B产品价格变动%。替代品交叉弹性为正（可乐和百事）；互补品为负（咖啡和糖）。无关产品 XED 接近零。形象记忆：“替代 → 同号（正）”。
8. Market Failure and Externalities | 市场失灵与外部性
Market failure happens when the free market fails to allocate resources efficiently. Key types: externalities, public goods, information failure, merit and demerit goods. Remember ‘ME PIP’: Market failure, Externalities, Public goods, Information, merit/demerit.
市场失灵指自由市场未能有效配置资源。主要类型：外部性、公共品、信息失灵、优值品和劣值品。记住“ME PIP”：市场失灵、外部性、公共品、信息、优值/劣值。
Negative externalities create external costs (e.g., pollution), causing overproduction. The intersection of marginal social cost (MSC) and marginal social benefit (MSB) determines the socially optimal output. Draw two lines: private and social.
负外部性产生外部成本（如污染），导致过度生产。边际社会成本（MSC）与边际社会效益（MSB）的交点决定社会最优产量。画两条线：私人与社会。
Public goods are non-excludable and non-rivalrous. The free-rider problem leads to under-provision. Mnemonic: ‘NENR’ – Not Excludable, Not Rivalrous.
公共品具有非排他性和非竞争性。搭便车问题导致供给不足。助记：“NENR”——非排他，非竞争。
9. Aggregate Demand (AD) and Its Components | 总需求及其构成
AD = C + I + G + (X – M). Say it as ‘CIG XM’: Consumer spending, Investment, Government spending, net eXports minus iMports. A fall in any component shifts AD left, possibly causing recession.
AD = C + I + G + (X – M)。读作“CIG XM”：消费支出、投资、政府支出、净出口（出口减进口）。任一组成部分下降都会使 AD 左移，可能引发衰退。
AD curve slopes downward: wealth effect, interest rate effect, exchange rate effect. Think ‘WIE’ – Wealth, Interest, Exchange. As price level falls, real wealth rises, interest rates tend to fall, and exports become more competitive.
AD 曲线向右下方倾斜的原因：财富效应、利率效应、汇率效应。记作“WIE”——财富、利率、汇率。价格水平下降时，实际财富增加，利率趋于下降，出口更具竞争力。
10. Aggregate Supply (AS) and Macroeconomic Equilibrium | 总供给与宏观经济均衡
Short-run aggregate supply (SRAS) is upward-sloping because at least one factor price (e.g., wages) is sticky. Shifts in SRAS are driven by changes in costs of production — use ‘PINTS W/C’ again.
短期总供给曲线（SRAS）向右上方倾斜，因为至少有一种要素价格（如工资）是粘性的。SRAS 的移动由生产成本变化驱动——再次使用“PINTS W/C”。
Long-run aggregate supply (LRAS) is vertical at the full-employment level of output. It shifts right with improvements in the quantity/quality of factors (CELL). Think ‘LRAS = potential output, driven by CELL’.
长期总供给曲线（LRAS）在充分就业产量水平上垂直。它随生产要素数量或质量的改善（CELL）而右移。记法：“LRAS = 潜在产出，受 CELL 驱动”。
Macro equilibrium occurs where AD = AS. A negative supply shock (e.g., rising oil prices) shifts SRAS left, causing stagflation: falling output and rising price level.
宏观经济均衡出现在 AD = AS 时。负向供给冲击（如油价上涨）使 SRAS 左移，引发滞胀：产出下降、价格水平上升。
11. Inflation, Deflation and Disinflation | 通货膨胀、通货紧缩与反通货膨胀
Inflation is a sustained increase in the general price level, measured by CPI or RPI. Deflation is a sustained fall in the average price level. Disinflation means a decrease in the rate of inflation — prices still rise but more slowly. The ‘di’ in disinflation signals ‘drop in speed’.
通胀是总体价格水平的持续上升，用 CPI 或 RPI 衡量。通缩是平均价格水平的持续下降。反通胀指通胀率下降——价格仍在上涨，但速度放慢。Disinflation 中的“di”提示“减速”。
Demand-pull inflation: ‘too much money chasing too few goods’ — AD shifts right. Cost-push inflation: rising costs shift SRAS left. Remember ‘D for demand-pull, C for cost-push’.
需求拉上型通胀：“过多货币追逐过少商品”——AD 右移。成本推动型通胀：成本上升使 SRAS 左移。记“D 为需求拉上，C 为成本推动”。
Consequences include menu costs, shoe-leather costs, uncertainty affecting investment, and redistribution of income from lenders to borrowers if unanticipated.
后果包括菜单成本、皮鞋成本、影响投资的不确定性，以及未被预期时收入从债权人向债务人的再分配。
12. Balance of Payments and Exchange Rates | 国际收支与汇率
The balance of payments current account includes trade in goods, trade in services, primary income (investment income) and secondary income (transfers). Think ‘GPS: Goods, services, Primary, Secondary’.
国际收支经常账户包括货物贸易、服务贸易、初次收入（投资收益）和二次收入（转移支付）。记作“GPS”：货物、服务、初次、二次。
Exchange rate: the price of one currency in terms of another. Appreciation means the currency strengthens (ER rises), depreciation means it weakens. For the pound, use ‘SPICED’: Strong Pound Imports Cheaper Exports Dearer.
汇率：用一种货币表示的另一种货币的价格。升值意味着货币走强（汇率上升），贬值意味着货币走弱。对于英镑，用“SPICED”：Strong Pound Imports Cheaper Exports Dearer（强英镑进口便宜出口贵）。
Managed float, fixed and freely floating exchange rate systems affect policy options. A lower exchange rate boosts net exports (X–M) and shifts AD right, aiding growth but risking imported inflation.
管理浮动、固定和自由浮动汇率制度影响政策选择。较低的汇率促进净出口（X–M），使 AD 右移，有助于增长但可能引发输入型通胀。
Published by TutorHao | Economics Revision Series | aleveler.com
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