📚 Vocabulary Terminology Quick Reference Guide for Pre-U AQA Economics | Pre-U AQA 经济：词汇术语速记指南
Mastering the vocabulary of Economics is essential for success in the Pre-U AQA examination. This guide presents key terms organised by major topic areas, with concise definitions and memory aids to help you internalise the language of the subject. The paired English–Chinese explanations below ensure you can reason in both languages with confidence.
掌握经济学术语是 Pre-U AQA 考试取得成功的必要条件。本指南按主要专题板块整理核心词汇，配合精炼的定义与记忆方法，帮助你内化学科语言。以下英中双语对照解释确保你能自信地运用两种语言进行推理。
1. Scarcity and Choice | 稀缺性与选择
The fundamental economic problem is that resources are finite while human wants are infinite, forcing individuals and societies to make choices. Every choice involves an opportunity cost.
根本的经济学问题是资源有限而人类欲望无限，迫使个人和社会作出选择。每一个选择都涉及机会成本。
Scarcity – the situation in which available resources are insufficient to satisfy all wants. Remember: ‘Scarcity is forever, shortage is temporary.’
稀缺性 – 可用资源不足以满足所有欲望的状况。记住：“稀缺永恒，短缺短暂。”
Opportunity cost – the value of the next best alternative forgone when a choice is made. Think of it as ‘the road not taken’ with a price tag.
机会成本 – 作出选择时所放弃的次优替代品的价值。把它想象为带有价签的“未选择的路”。
Production possibility frontier (PPF) – a curve showing the maximum combinations of two goods an economy can produce with full employment of resources. Points on the curve are efficient; inside is inefficiency; outside is unattainable with current resources.
生产可能性边界 (PPF) – 显示经济在资源充分利用下能生产的两种商品最大组合的曲线。曲线上的点有效率；曲线内是无效率；曲线外在当前资源下无法达到。
Marginal analysis – comparing the additional benefit of an action with its additional cost. ‘Rational people think at the margin.’
边际分析 – 比较一个行动的额外收益与额外成本。“理性人边际思考。”
2. Demand and Supply | 需求与供给
The market mechanism is driven by the interaction of buyers and sellers. Key terms describe the responsiveness and determinants of quantity demanded and supplied.
市场机制由买方和卖方的互动驱动。关键术语描述了需求量与供给量的响应程度及其决定因素。
Law of demand – as price falls, quantity demanded rises, ceteris paribus. Mnemonic: ‘Price down, demand up (along the curve).’
需求定律 – 在其他条件不变的情况下，价格下降，需求量上升。口诀：“价格降，需求涨（沿曲线）。”
Law of supply – as price rises, quantity supplied rises, ceteris paribus. Producers are motivated by profit.
供给定律 – 在其他条件不变的情况下，价格上升，供给量上升。生产者受利润驱动。
Equilibrium – the price where quantity demanded equals quantity supplied. Market clears with no surplus or shortage.
均衡 – 需求量等于供给量时的价格。市场出清，无过剩或短缺。
Consumer surplus – the difference between what consumers are willing to pay and what they actually pay. Visualise the triangle below the demand curve and above price.
消费者剩余 – 消费者愿意支付的最高价格与实际支付价格之差。想象需求曲线下方、价格上方的三角区域。
Producer surplus – the difference between the price producers receive and the minimum they are willing to accept. Triangle above the supply curve and below price.
生产者剩余 – 生产者获得的价格与愿意接受的最低价格之差。供给曲线上方、价格下方的三角区域。
3. Elasticity | 弹性
Elasticity measures how much one variable responds to changes in another. It is a cornerstone of evaluation in AQA essays.
弹性衡量一个变量对另一个变量变化的反应程度。是 AQA 论文评估的基石。
Price elasticity of demand (PED) = % change in quantity demanded ÷ % change in price. If |PED| > 1, demand is elastic (luxuries, substitutes). If |PED| < 1, demand is inelastic (necessities, addictive goods).
需求价格弹性 (PED) = 需求量变动百分比 ÷ 价格变动百分比。若 |PED| > 1，需求有弹性（奢侈品、有替代品）；若 |PED| < 1，需求无弹性（必需品、成瘾品）。
Income elasticity of demand (YED) = % change in demand ÷ % change in income. Normal goods have YED > 0; inferior goods have YED < 0. ‘Normal goes with Normal (positive), Inferior negative.’
需求收入弹性 (YED) = 需求变动百分比 ÷ 收入变动百分比。正常品 YED > 0；低档品 YED < 0。“正常品为正，低档品为负。”
Cross elasticity of demand (XED) = % change in demand for good A ÷ % change in price of good B. Positive for substitutes, negative for complements. ‘Positive with Substitutes, Negative with Complements’ – think ‘+ S, – C’.
需求交叉弹性 (XED) = 商品 A 的需求变动百分比 ÷ 商品 B 的价格变动百分比。替代品为正，互补品为负。“替代品正，互补品负。”
Price elasticity of supply (PES) = % change in quantity supplied ÷ % change in price. Key determinants: time period, spare capacity, stock levels. ‘Long run more elastic.’
供给价格弹性 (PES) = 供给量变动百分比 ÷ 价格变动百分比。主要决定因素：时间跨度、闲置产能、库存水平。“长期更具弹性。”
4. Market Structures | 市场结构
Understanding the spectrum from perfect competition to monopoly helps explain firm behaviour, efficiency, and welfare outcomes.
理解从完全竞争到垄断的光谱有助于解释企业行为、效率和福利结果。
Perfect competition – many firms, homogeneous product, free entry/exit, perfect knowledge, price-takers. ‘Perfectly many, perfectly free.’
完全竞争 – 众多企业，同质产品，自由进出，完全信息，价格接受者。“完全多，完全自由。”
Monopoly – a single seller with significant barriers to entry. Can set price (price-maker) but faces a downward-sloping demand curve. ‘One firm, one market.’
垄断 – 单一卖方，存在重大进入壁垒。可以制定价格（价格制定者），但面临向下倾斜的需求曲线。“一家企业，一个市场。”
Oligopoly – a few dominant firms, high concentration ratio, interdependence, non-price competition. Kinked demand curve model suggests price rigidity. ‘Few but fierce.’
寡头垄断 – 少数主导企业，高集中度，相互依赖，非价格竞争。弯折需求曲线模型表明价格刚性。“少但激烈。”
Monopolistic competition – many firms, differentiated products, low barriers. Normal profit in the long run due to free entry. ‘Like perfect competition but with branding.’
垄断竞争 – 众多企业，差异化产品，低进入壁垒。由于自由进入，长期只获正常利润。“像完全竞争但有品牌。”
Contestable market – a market where entry and exit costs are low, forcing even monopolists to behave competitively. ‘Hit-and-run entry possible.’
可竞争市场 – 进入和退出成本低的市场，迫使甚至垄断企业也采取竞争行为。“可打带跑的进入。”
5. Market Failure and Government Intervention | 市场失灵与政府干预
When free markets fail to allocate resources efficiently, governments may intervene. Key concepts include externalities, public goods, and information problems.
当自由市场无法有效配置资源时，政府可能会干预。关键概念包括外部性、公共品和信息问题。
Market failure – misallocation of resources where social welfare is not maximised. Causes: externalities, public goods, merit/demerit goods, imperfect information, inequality.
市场失灵 – 资源配置不当，未能最大化社会福利。原因：外部性、公共品、优值/劣值品、不完全信息、不平等。
Externalities – third-party spillover effects not reflected in prices. Negative production externality: MSC > MPC. Diagram: social optimum where MSB = MSC.
外部性 – 未在价格中反映的第三方溢出效应。负生产外部性：MSC > MPC。图形上社会最优在 MSB = MSC 处。
Public goods – non-rivalrous and non-excludable, leading to the free-rider problem. E.g. street lighting, national defence. ‘If you can’t charge for it, the market won’t provide it.’
公共品 – 非竞争性和非排他性，导致搭便车问题。例如路灯、国防。“若无法收费，市场便不提供。”
Government intervention – taxes, subsidies, regulation, buffer stocks, state provision. Pigouvian tax = tax set equal to external cost at optimum output. ‘Tax the bad, subsidise the good.’
政府干预 – 税收、补贴、管制、缓冲库存、国家提供。庇古税 = 在最优产量下等于外部成本的税收。“对坏事征税，对好事补贴。”
Government failure – when intervention leads to an even less efficient outcome. Causes: inadequate information, unintended consequences, political self-interest.
政府失灵 – 干预导致更无效率的结果。原因：信息不足、意外后果、政治私利。
6. Macroeconomic Objectives | 宏观经济目标
Governments aim to achieve stable growth, low unemployment, low inflation, and a sustainable balance of payments. Conflicts between goals often appear in exam questions.
政府旨在实现稳定增长、低失业、低通胀和可持续的国际收支平衡。目标之间的冲突常出现在考题中。
Economic growth – increase in real GDP over time, indicating rising living standards. Measured as percentage change. ‘More goods and services produced.’
经济增长 – 实际 GDP 随时间增长，表明生活水平提高。以百分比变动衡量。“生产更多商品和服务。”
Unemployment – measured by claimant count or ILO labour force survey. Types: cyclical, structural, frictional, seasonal. ‘People willing and able to work but without a job.’
失业 – 通过申领人数或国际劳工组织劳动力调查衡量。类型：周期性、结构性、摩擦性、季节性。“有能力且愿意工作但无工作的人。”
Inflation – sustained increase in the general price level. CPI and RPI are measures. Deflation is the opposite. ‘Too much money chasing too few goods.’
通胀 – 一般物价水平的持续上升。CPI 和 RPI 是衡量指标。通缩则是相反。“过多货币追逐过少商品。”
Balance of payments – record of a country’s transactions with the rest of the world. Current account includes trade in goods, services, income, and transfers. ‘Earnings minus spending abroad.’
国际收支 – 一国与世界其他地区的交易记录。经常账户包括货物、服务、收入和转移支付。“对外收入减去对外支出。”
7. Aggregate Demand and Aggregate Supply | 总需求与总供给
AD–AS analysis explains short-run fluctuations and long-run trend growth. Exogenous shocks and policy responses shift these curves.
AD–AS 分析解释短期波动和长期趋势增长。外生冲击和政策反应会使这些曲线移动。
Aggregate demand (AD) = C + I + G + (X − M). Downward sloping due to wealth effect, interest-rate effect, and net export effect. ‘The total spending in the economy.’
总需求 (AD) = 消费 + 投资 + 政府支出 + (出口 − 进口)。由于财富效应、利率效应和净出口效应而向下倾斜。“经济中的总支出。”
Short-run aggregate supply (SRAS) – upward sloping, showing the relationship between price level and real output supplied when input prices are sticky. Shifts left with cost increases.
短期总供给 (SRAS) – 向上倾斜，显示价格水平与产出之间的关系，投入价格粘性。成本上升时左移。
Long-run aggregate supply (LRAS) – vertical at the full employment level of output (classical view). Represents the productive potential of the economy. Shifts right with better technology or more resources.
长期总供给 (LRAS) – 在充分就业产出水平处垂直（古典观点）。代表经济的生产潜力。随技术进步或资源增加右移。
Macro equilibrium – intersection of AD and SRAS (or LRAS). Output gap exists when actual output differs from potential. Recessionary gap: actual < potential.
宏观均衡 – AD 与 SRAS（或 LRAS）的交点。实际产出与潜在产出不同时出现产出缺口。衰退缺口：实际 < 潜在。
8. Fiscal and Monetary Policy | 财政与货币政策
Demand-side policies are used to stabilise the economy. Know the transmission mechanisms and limitations.
需求侧政策用于稳定经济。了解传导机制和局限性。
Fiscal policy – use of government spending and taxation to influence AD. Budget deficit = expansionary; budget surplus = contractionary. ‘The Chancellor’s tools.’
财政政策 – 政府利用支出和税收影响总需求。预算赤字 = 扩张性；预算盈余 = 紧缩性。“财政大臣的工具。”
Monetary policy – manipulation of the money supply or interest rates by the central bank to control inflation and support growth. Base rate changes affect borrowing and saving.
货币政策 – 中央银行操控货币供应或利率以控制通胀和支持增长。基准利率变动影响借贷和储蓄。
Quantitative easing (QE) – central bank buys government bonds to inject liquidity, lowering long-term interest rates. ‘Creating money to buy assets.’
量化宽松 (QE) – 中央银行购买政府债券以注入流动性，降低长期利率。“创造货币购买资产。”
Supply-side policies – measures to increase the productive capacity (shift LRAS right). Examples: education, deregulation, tax reforms. ‘Making the economy more efficient.’
供给侧政策 – 提高生产能力的措施（右移 LRAS）。例如教育、放松管制、税制改革。“让经济更高效。”
9. International Trade and Exchange Rates | 国际贸易与汇率
Globalisation and trade policy feature heavily in the AQA Pre-U. Comparative advantage and exchange rate systems are vital.
全球化和贸易政策在 AQA Pre-U 中占有重要地位。比较优势和汇率制度至关重要。
Comparative advantage – a country can produce a good at a lower opportunity cost than another. Basis for trade. ‘Not absolute cost, but opportunity cost.’
比较优势 – 一国能以低于另一国的机会成本生产某种商品。贸易的基础。“不是绝对成本，而是机会成本。”
Terms of trade = export price index ÷ import price index × 100. An improvement means more imports can be bought per unit of exports.
贸易条件 = 出口价格指数 ÷ 进口价格指数 × 100。改善意味着每单位出口能购买更多进口品。
Exchange rate – the price of one currency in terms of another. Appreciation makes exports dearer, imports cheaper. ‘Strong currency: good for imports, bad for exports.’
汇率 – 一种货币以另一种货币表示的价格。升值使出口更贵、进口更便宜。“强货币：利于进口，不利出口。”
Fixed vs floating exchange rate – fixed is pegged by the central bank; floating is determined by market forces. Managed floating involves some intervention.
固定汇率与浮动汇率 – 固定汇率由央行挂钩；浮动汇率由市场力量决定。管理浮动涉及一些干预。
Balance of payments imbalances – current account deficit must be financed by capital/financial account surplus. ‘Surpluses and deficits always sum to zero overall.’
国际收支失衡 – 经常账户赤字必须由资本/金融账户盈余来融资。“盈余和赤字总合计为零。”
10. Quick Memorisation Techniques | 快速记忆技巧
Use these mnemonics and pattern recognition tips to lock terminology into long-term memory.
运用这些记忆术和模式识别技巧将术语锁定在长期记忆中。
Mnemonic for elasticity formulas: ‘Points Earned Demand Quick Success’ – PED, YED, XED, PES. All have % change in quantity as numerator, except PED where it’s quantity demanded, XED where it’s demand of A.
弹性公式口诀： “PED, YED, XED, PES” – 记住分子都是数量的百分比变化，只是具体类型不同。
Causes of market failure: ‘Please Go Make India Prosper’ – Public goods, externalities, market power, imperfect information, inequality (prosperity). Create your own acronym.
市场失灵原因： “请去让印度繁荣” – 公共品、外部性、市场势力、不完全信息、不平等。自编首字母缩写。
AD components: ‘Can I Get X-M?’ – Consumption, Investment, Government spending, (eXports − iMports).
总需求组成： “我能得到 X-M 吗？” – 消费、投资、政府支出、(出口 − 进口)。
Supply-side policies to remember: ‘TIRED’ – Tax reform, Infrastructure, Regulation reduction, Education/training, Deregulation.
供给侧政策记忆： “累” – 税制改革、基础设施、减少监管、教育/培训、放松管制。
Draw diagrams: For each term, sketch a quick graph (PPF, AD/AS, market diagram) and label the areas of surplus, revenue, or externality costs. Visual memory aids recall.
画图： 对每个术语快速画出草图（PPF、AD/AS、市场图），标出剩余、收入或外部性成本区域。视觉记忆辅助回忆。
Published by TutorHao | Economics Revision Series | aleveler.com
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