📚 Pre-U Cambridge Economics: Key Terms Memorisation Guide | 剑桥Pre-U经济学：关键术语速记指南
Mastering the terminology in Pre-U Cambridge Economics is the first step towards high-scoring essays and precise analysis. This guide organises essential micro and macroeconomic terms into logical clusters, pairing each English definition with its Chinese equivalent and a memory hack. Use it to build a mental dictionary that will sharpen both your understanding and your exam responses.
掌握剑桥Pre-U经济学的术语是写出高分论文和进行精准分析的第一步。本指南将微观与宏观核心术语按逻辑模块整理，为每个英文定义配上中文对应术语和记忆窍门。用它建立你的脑内词典，帮助你在理解与应试中更加敏锐。
1. The Basic Economic Problem | 基本经济问题
Scarcity – The condition that arises because human wants exceed the limited resources available to satisfy them. Memory tip: Picture ‘scarce’ + ‘city’, a city where everything is hard to find.
稀缺性 – 由于人类的欲望超过了可用于满足这些欲望的有限资源而产生的状况。记忆法：联想“稀少”和“缺”，合起来就是东西不够。
Choice – The act of selecting among alternatives, forced by scarcity. Memory tip: Every ‘ch’oice has a ‘c’ost; just replace ‘ch’ with ‘c’.
选择 – 由稀缺性所迫，在备选方案中做出取舍的行为。记忆法：英文Choice把ch换成c就成了Cost，选择即伴随成本。
Opportunity cost – The value of the next best alternative forgone when a choice is made. Memory tip: The ‘cost’ of the ‘opportunity’ you let go; think of a missed train – the next best ride.
机会成本 – 做出一种选择时所放弃的次优选项的价值。记忆法：放弃的那个“机会”所带来的“成本”，就像错过一班火车后所牺牲的时间。
Economic goods – Goods that are scarce relative to demand and therefore command a price. Memory tip: ‘Economic’ signals a price tag; if it is free, it is not an economic good.
经济物品 – 相对于需求而言稀缺、因此具有价格的物品。记忆法：有“经济”属性就意味着要花钱；免费的东西通常不是经济物品。
Free goods – Goods that are abundant and have no opportunity cost, such as air or sunshine. Memory tip: ‘Free’ means no opportunity cost, not necessarily zero price.
免费物品 – 丰富到没有机会成本的物品，如空气或阳光。记忆法：这里的“免费”是指没有机会成本，不一定是零价格。
Production possibility frontier (PPF) – A curve showing the maximum combinations of two goods an economy can produce with full employment of resources. Memory tip: PPF sounds like ‘Possible F’uture Frontier’ – the limit of what is possible.
生产可能性边界 – 表示一个经济体在资源充分利用时能生产的两种商品最大组合的曲线。记忆法：PPF可以理解为“可能的边界”，是能力的极限。
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 purchase at each price over a period. Memory tip: ‘De’ for ‘desire’ plus ‘mand’ for ‘mandatory money’ – you must want it and be able to pay.
需求 – 在某段时期内，消费者在不同价格水平下愿意且能够购买的商品或服务数量。记忆法：英文拆分为“desire(欲望)+mand(必须有钱)”，两者缺一不可。
Law of demand – An inverse relationship between price and quantity demanded, ceteris paribus. Memory tip: As price climbs, demand dives – think of a diving board.
需求定律 – 在其他条件不变的情况下，价格与需求量呈反向关系。记忆法：价格走高，需求跳水——想象一块跳板。
Supply – The quantity producers are willing and able to offer for sale at each price. Memory tip: ‘Sup’ as in ‘supply upward sloping’; suppliers supply when price is high.
供给 – 生产者在不同价格下愿意且能够提供出售的数量。记忆法：英文Supply与“斜坡向上”联想，价格越高供给越多。
Equilibrium price – The price where quantity demanded equals quantity supplied. Memory tip: ‘Equi’ = equal, ‘librium’ = balance; a balanced seesaw.
均衡价格 – 需求量等于供给量时的价格。记忆法：英文词根equi表示相等，librium像天平，均衡就像平衡的跷跷板。
Shift vs movement – A movement occurs when price changes (along the curve); a shift happens when a non-price determinant changes. Memory tip: ‘Move’ with price, ‘shift’ with structure (factors other than price).
移动与平移 – 价格变化引起曲线上点的移动；非价格因素导致整条曲线平移。记忆法：价格变了就“沿”着走；结构变了就“整条线”平移。
3. Elasticities | 弹性
Price elasticity of demand (PED) – Measures the responsiveness of quantity demanded to a change in price. Formula: PED = %ΔQd / %ΔP. Memory tip: PED talks about ‘Price’, so the % change in price is in the denominator.
需求价格弹性 – 衡量需求量对价格变化的反应程度。公式：PED = 需求量变动% ÷ 价格变动%。记忆法：PED关注价格，所以价格变动%放在分母。
Price elasticity of supply (PES) – Responsiveness of quantity supplied to a price change. Memory tip: ‘S’ in PES stands for ‘supply’ and ‘speed’ – how quickly firms can react.
供给价格弹性 – 供给量对价格变化的反应程度。记忆法：PES里的S代表“供给”和“速度”，衡量企业反应有多快。
Income elasticity of demand (YED) – Measures how demand changes with consumer income. Memory tip: Y for ‘Yield’ (income). YED positive for normal goods, negative for inferior.
需求收入弹性 – 衡量需求如何随消费者收入变动。记忆法：Y代表收入(income中的y)，YED为正的是正常品，为负的是劣质品。
Cross elasticity of demand (XED) – Measures how the demand for good A changes when the price of good B changes. Memory tip: ‘X’ marks the cross relationship; positive for substitutes, negative for complements.
需求交叉弹性 – 衡量商品A的需求对商品B价格变动的反应。记忆法：X表示交叉，正值替代品，负值互补品。
Elastic, inelastic, unitary – PED > 1 elastic, PED < 1 inelastic, PED = 1 unitary. Memory tip: ‘E’ for ‘exaggerated’ response, ‘I’ for ‘insensitive’, ‘U’ for ‘unit’ (proportional).
富有弹性、缺乏弹性、单位弹性 – PED大于1为富有弹性，小于1为缺乏弹性，等于1为单位弹性。记忆法：E对应夸大反应，I对应不敏感，U对应等比例。
4. Market Failure | 市场失灵
Market failure – When the free market fails to allocate resources efficiently, resulting in a net welfare loss. Memory tip: The market ‘fails’ to deliver an optimal outcome – imagine a broken shopping cart.
市场失灵 – 自由市场未能有效配置资源，导致净福利损失。记忆法：市场“失灵”，就像购物车坏了，没法装满你的需求。
Externalities – Spillover effects on third parties not reflected in prices. Negative externality: costs imposed on others; positive externality: benefits. Memory tip: ‘Extern’ like ‘external’ – effects external to the transaction.
外部性 – 未在价格中体现的对第三方的溢出效应。负外部性施加成本，正外部性带来收益。记忆法：Extern就是外部，交易之外的影响。
Public goods – Goods that are non-rivalrous and non-excludable, e.g. street lighting. Memory tip: ‘Public’ because no one can be excluded and one person’s use does not reduce availability – think ‘light for all’.
公共物品 – 具有非竞争性和非排他性的物品，如路灯。记忆法：“公共”因为无法排除他人，且一个人的使用不减少别人的使用——“大家共享的光”。
Merit goods and demerit goods – Merit goods are under-consumed if left to the market (education); demerit goods are over-consumed (cigarettes). Memory tip: ‘Merit’ deserves more, ‘demerit’ deserves less.
有益品与有害品 – 交给市场则消费不足的是有益品（如教育），消费过多的是有害品（如香烟）。记忆法：Merit 值得更多，de是降低，demerit值得更少。
Information failure – When consumers or producers lack full information to make optimal decisions. Memory tip: ‘Info’ gap leads to bad choices – imagine a blindfolded buyer.
信息不对称 – 消费者或生产者缺乏充分信息而无法做出最优决策。记忆法：信息缺口就像蒙着眼睛买东西，容易出错。
5. Government Intervention | 政府干预
Indirect tax – A tax on expenditure, such as VAT or excise duties, which increases costs and shifts supply leftwards. Memory tip: ‘Indirect’ because it hits spending, not income directly. Think of a tax ‘wedge’.
间接税 – 对支出征收的税，如增值税或消费税，增加成本并使供给曲线左移。记忆法：“间接”是因为它打击的是支出而不是收入，像在价格中插入一个楔子。
Subsidy – A payment from government to firms, lowering costs and shifting supply rightwards. Memory tip: ‘Sub’ means under, like a helping hand pushing the supply curve out.
补贴 – 政府给企业的转移支付，降低成本并使供给曲线右移。记忆法：sub-表示下方支持，就像一只手把供给曲线向外推。
Maximum price – A price ceiling set below equilibrium to protect consumers, often causing shortages. Memory tip: ‘Max’ sounds like a cap – it caps the price from going up.
最高限价 – 设定在均衡价格之下的价格上限，用于保护消费者，常导致短缺。记忆法：Max就像一顶帽子，压住价格不让上涨。
Minimum price – A price floor set above equilibrium, used to support producers, often leading to surpluses. Memory tip: ‘Min’ is a guarantee; it is the floor that supports the market.
最低限价 – 设定在均衡价格之上的价格下限，用来支持生产者，常造成过剩。记忆法：Min像地板，让价格不会跌破。
Tradable permits – A cap-and-trade system to limit pollution by issuing permits that firms can buy and sell. Memory tip: ‘Permit’ to pollute, tradable like a ticket you can resell.
可交易许可证 – 通过发放可买卖的排放许可证来限制污染的“总量控制与交易”制度。记忆法：污染“许可证”，像一张可以转卖的门票。
6. Costs, Revenue and Profit | 成本、收益与利润
Fixed costs (FC) – Costs that do not vary with output, such as rent. Memory tip: ‘Fixed’ means stuck – they stay the same even if you produce zero.
固定成本 – 不随产量变动的成本，如租金。记忆法：固定的就是粘住了，就算停产也要支出。
Variable costs (VC) – Costs that change directly with the level of output, e.g. raw materials. Memory tip: ‘Variable’ varies with volume – more output, more variable cost.
可变成本 – 随产量直接变动的成本，如原材料。记忆法：变量与产量挂钩，产量越高可变成本越大。
Marginal cost (MC) – The addition to total cost from producing one extra unit. Memory tip: ‘Margin’ means edge – the cost at the next edge of production.
边际成本 – 多生产一单位产量所增加的总成本。记忆法：“边际”就是下一个边沿的成本。
Total revenue (TR) – Price × quantity sold. Memory tip: ‘T’ for total takings, a simple multiplication.
总收益 – 价格乘以销量。记忆法：就是总收入，简单乘法。
Normal profit vs supernormal profit – Normal profit is the minimum return to keep resources in their current use (included in cost); supernormal profit is anything above that. Memory tip: ‘Normal’ is just enough to stay, ‘super’ is extra gravy.
正常利润与超额利润 – 正常利润是使资源留在当前用途的最低回报（包含在成本中）；超额利润是超出部分。记忆法：正常利润刚好够留，超额的就像额外肉汁。
7. Market Structures | 市场结构
Perfect competition – A market with many buyers and sellers, homogeneous products, free entry and exit, perfect information. Firms are price takers. Memory tip: ‘Perfect’ means no one firm has power – they must ‘take’ the market price.
完全竞争 – 具有众多买卖双方、同质产品、自由进出和完全信息的市场。企业是价格接受者。记忆法：“完全”意味着没有一家企业有影响力，只能“接受”市价。
Monopoly – A single seller dominates the market with high barriers to entry. It is a price maker. Memory tip: ‘Mono’ = one, like a lone king who sets the price.
垄断 – 单一卖家主导市场且存在高进入壁垒，是价格制定者。记忆法：Mono是一个，如同独裁国王定价格。
Oligopoly – A market dominated by a few large firms, characterised by interdependence and strategic behaviour. Memory tip: ‘Olig’ = few, like an oligarchy of firms watching each other’s moves.
寡头垄断 – 少数大企业主导的市场，特征为相互依赖和策略性行为。记忆法：Olig意思是少数，像企业寡头集团互相盯防。
Monopolistic competition – Many firms selling differentiated products, with low barriers to entry. Memory tip: It is ‘monopolistic’ because each firm has a mini-monopoly over its brand, yet ‘competition’ because entry is free.
垄断竞争 – 众多企业销售差异化产品，进入壁垒较低。记忆法：每个企业对自己品牌有小小的“垄断”，但仍存在竞争因为可以自由进入。
Barriers to entry – Obstacles that prevent new competitors from easily entering an industry. Memory tip: Think of a high wall with ‘entry’ written on it – legal, capital, or brand walls.
进入壁垒 – 阻止新竞争者轻松进入行业的障碍。记忆法：想象一道高墙，上面写着“禁止进入”——可能是法律、资本或品牌之墙。
8. Macroeconomic Objectives | 宏观经济目标
Economic growth – An increase in the real output of an economy over time, measured by growth in real GDP. Memory tip: Growth is the ‘G’ in GDP pushing upward; think of an expanding balloon.
经济增长 – 一段时间内经济体实际产出的增加，用实际GDP增长率衡量。记忆法：增长就是GDP向上膨胀，像一个被吹大的气球。
Low and stable inflation – A sustained increase in the general price level kept within a target range (e.g. 2%). Memory tip: Inflation ‘inflates’ prices; ‘stable’ means the balloon is not bursting or deflating.
低且稳定的通胀 – 一般价格水平持续上升但被控制在目标区间内（如2%）。记忆法：通胀让价格“膨胀”，稳定意味着气球不爆也不瘪。
Low unemployment – When those willing and able to work can find jobs, typically measured by the claimant count or ILO survey. Memory tip: ‘Unemployment’ = unable + employment; aim to keep it low.
低失业率 – 愿意且有能力工作的人都能找到工作，通常用申请失业金人数或ILO调查衡量。记忆法：失业就是“无业”，政策目标是压低它。
Balance of payments equilibrium – A position where the current account is broadly balanced on average over the cycle. Memory tip: ‘BoP’ sounds like ‘balance’ – export earnings and import spending in harmony.
国际收支平衡 – 经常账户在整个经济周期内大致均衡的状态。记忆法：BoP就是天平，出口收入与进口支出和谐共处。
Income distribution – How evenly the nation’s income is shared among the population; Gini coefficient measures inequality. Memory tip: ‘Distribution’ like slicing a cake – a fair slice for everyone reduces the Gini.
收入分配 – 国民收入在人口中分配的公平程度；基尼系数衡量不平等。记忆法：“分配”就像切蛋糕，人人有公平的一块基尼系数就低。
9. Aggregate Demand and Aggregate Supply | 总需求与总供给
Aggregate demand (AD) – Total spending on domestic goods and services: AD = C + I + G + (X – M). Memory tip: ‘Aggregate’ means total; remember the components as ‘CIG-XM’ – a cigarette brand minus ‘M’.
总需求 – 对国内商品与服务的总支出：AD = C + I + G + (X – M)。记忆法：Aggregate就是“总计”，成分记为“CIG吸烟品牌，减去M”。
Short-run aggregate supply (SRAS) – The total output firms are willing to supply at a given price level, assuming some fixed input costs. Memory tip: ‘S’ for short-run stickiness – wages and prices are slow to adjust.
短期总供给 – 假设部分投入成本不变时，企业在既定价格水平下愿意供应的总产出。记忆法：短期“S”代表粘性，工资价格调整缓慢。
Long-run aggregate supply (LRAS) – The productive capacity of an economy when all resources are fully employed; vertical at full employment output. Memory tip: ‘L’ for long-run limit – the economy’s maximum potential.
长期总供给 – 所有资源充分就业时经济体的生产能力；在充分就业产出处呈垂直线。记忆法：长期“L”表示产能极限。
Multiplier effect – An initial change in spending leads to a larger final change in national income. Memory tip: Multiplier multiplies – a small injection creates a ripple that grows.
乘数效应 – 初始支出的变动导致国民收入更大规模变动的过程。记忆法：乘数就会放大，小投入掀起连锁扩大效应。
Output gap – The difference between actual GDP and potential GDP. Negative gap means spare capacity; positive gap suggests overheating. Memory tip: ‘Gap’ between real and ideal; negative gap = unemployed resources.
产出缺口 – 实际GDP与潜在GDP之间的差额。负缺口表示产能过剩，正缺口表示经济过热。记忆法：实际与理想之间的“缺口”，负的意味着资源闲置。
10. Fiscal and Monetary Policy | 财政与货币政策
Fiscal policy – Use of government spending and taxation to influence the economy. Memory tip: ‘Fiscal’ relates to the treasury’s ‘fiscal’ year; think of the government’s wallet.
财政政策 – 运用政府支出和税收影响经济运行。记忆法：Fiscal音似“财政”，就是政府的钱包。
Budget deficit and surplus – Deficit: government spending exceeds tax revenue; surplus: tax revenue exceeds spending. Memory tip: ‘Deficit’ like a ‘deficiency’ – you are short; surplus is extra.
预算赤字与盈余 – 赤字：政府支出大于税收收入；盈余：税收收入大于支出。记忆法：赤字就是不足，盈余就是有余。
Monetary policy – Central bank actions to control the money supply, interest rates, and credit conditions. Memory tip: ‘Monetary’ is about money; it is the ‘money policy’.
货币政策 – 中央银行控制货币供应量、利率和信贷条件的措施。记忆法：Monetary就是关于货币的，即“钱”的政策。
Interest rate – The cost of borrowing and the reward for saving. Memory tip: It is the ‘price’ of money; higher rates make borrowing ‘interest-ingly’ expensive.
利率 – 借贷的成本和储蓄的回报。记忆法：它是资金的“价格”，利率越高借钱越有趣地贵。
Quantitative easing (QE) – Central bank purchases of government bonds to inject liquidity into the banking system. Memory tip: ‘Quantitative’ = increasing quantity of money; ‘easing’ = making conditions looser.
量化宽松 – 中央银行购买政府债券以向银行体系注入流动性。记忆法：“量化”就是增加货币数量，“宽松”就是让银根松快。
11. International Trade | 国际贸易
Comparative advantage – The ability to produce a good at a lower opportunity cost than another country. Memory tip: ‘Compare’ the opportunity costs; the country with the smaller forgone alternative has the comparative advantage.
比较优势 – 以低于另一国的机会成本生产某种商品的能力。记忆法：比较机会成本，谁放弃的少谁有比较优势。
Absolute advantage – The ability to produce more of a good using the same amount of resources. Memory tip: ‘Absolute’ is about being absolutely better – producing more with less.
绝对优势 – 利用相同资源能生产更多产品的能力。记忆法：绝对就是绝对更优——用更少投入产出更多。
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. Memory tip: ‘Terms’ of the trade deal – higher export/import price ratio is better.
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买到更多进口品。记忆法：贸易“条件”越好，交换越划算。
Protectionism – Policies that restrict free trade, such as tariffs, quotas, and subsidies to domestic producers. Memory tip: ‘Protect’ domestic industries with barriers like walls around a castle.
保护主义 – 限制自由贸易的政策，如关税、配额和对国内生产者的补贴。记忆法：像城堡围墙一样“保护”国内产业。
Tariff – A tax on imported goods that raises their price. Memory tip: ‘Tariff’ sounds like ‘tariff-ic’ increase in price for imports.
关税 – 对进口商品征收的税，提高其价格。记忆法：Tariff像“太贵了”，进口品价格因此上涨。
12. Exchange Rates and the Balance of Payments | 汇率与国际收支
Exchange rate – The price of one currency in terms of another. Memory tip: ‘Exchange’ means you are swapping currencies; the rate tells you how much you get.
汇率 – 以一种货币表示的另一种货币的价格。记忆法：“兑换”就是换钱，汇率告诉你换多少。
Appreciation and depreciation – Appreciation: an increase in the value of a currency in a floating system; depreciation: a fall. Memory tip: ‘App-reciate’ goes up like an applause; ‘de-preciate’ goes down like a depreciating asset.
升值和贬值 – 浮动汇率下货币价值上升为升值，下降为贬值。记忆法：升值向上像鼓掌赞美，贬值向下像资产折旧。
Floating and fixed exchange rates – Floating: determined by market forces; fixed: pegged by the central bank to another currency or basket. Memory tip: ‘Float’ like a boat on waves; ‘fixed’ like an anchor.
浮动汇率与固定汇率 – 浮动汇率由市场力量决定；固定汇率由中央银行钉住另一种货币或一篮子货币。记忆法：“浮动”像小船随波，“固定”像抛锚定住。
Current account – Records trade in goods, services, income flows, and current transfers. Memory tip: ‘Current’ transactions happening now – think of the flow of exports and imports.
经常账户 – 记录商品、服务、收入流动和经常转移的账户。记忆法：“经常”意味着当下的交易，进出口的流水账。
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