Year 12 CCEA Economics: Vocabulary Memorisation Guide | CCEA 经济学术语速记指南

📚 Year 12 CCEA Economics: Vocabulary Memorisation Guide | CCEA 经济学术语速记指南

Mastering the language of Economics is half the battle at AS level. This guide breaks down the essential terminology into thematic clusters, giving each term a clear definition, contextual application, and memory hook. Whether you are tackling multiple‑choice questions or planning essays, a solid command of these words will help you express economic reasoning with confidence.

掌握经济学的语言是 AS 阶段成功的一半。本指南将核心术语按主题分组，每个词条都配有清晰的定义、语境应用和记忆提示。无论你是在应对选择题还是构思论文，扎实掌握这些词汇都能帮助你有条理地表达经济学推理。

1. Scarcity, Choice, and Opportunity Cost | 稀缺性、选择与机会成本

Scarcity is the fundamental economic problem: unlimited wants facing limited resources. Because not everything can be produced, choices must be made. This gives rise to opportunity cost, which is the value of the next best alternative forgone when a choice is made. In a production possibility frontier (PPF) diagram, opportunity cost is illustrated by the downward slope – you must give up one good to get more of another.

稀缺性是经济学的基本问题：有限的资源面对无限的欲望。既然无法生产一切，就必须做出选择，这便产生了机会成本——即做出某一选择时所放弃的次优选项的价值。在生产可能性边界（PPF）图中，机会成本表现为曲线向下倾斜：要获得更多的一种商品，就必须放弃另一种商品。

Memory hook: Think of scarcity as 'not enough to go around', and opportunity cost as 'the road not taken'. When you spend an hour studying Economics instead of playing video games, the opportunity cost is the enjoyment you sacrificed.

记忆提示：可以把稀缺性理解为“不够分”，把机会成本理解为“未选择的路”。当你用一小时学习经济学而不是打游戏时，机会成本就是你牺牲掉的娱乐。

2. Factors of Production and Specialisation | 生产要素与专业化

The inputs used to produce goods and services are land, labour, capital, and enterprise. Land refers to all natural resources, labour to human effort, capital to man‑made aids (machinery, tools, buildings), and enterprise to the risk‑taking ability of the entrepreneur who combines the other three. Specialisation occurs when individuals, firms, or countries concentrate on a narrow range of tasks, leading to higher productivity but also greater interdependence.

用于生产商品和服务的投入被称为土地、劳动、资本和企业才能。土地指所有自然资源，劳动指人力付出，资本指人造的生产辅助（机器、工具、建筑），企业才能指企业家组合其他三项要素及承担风险的能力。专业化是指个人、企业或国家专注于有限的几项任务，从而提高生产率，但也加大了彼此间的依赖。

CCEA questions often ask you to link specialisation to the division of labour, where a production process is broken into small, repetitive steps. Both concepts are key to explaining why economies can produce more, but also why disruptions (like a strike in one part of a supply chain) can have wide‑ranging effects.

CCEA 的试题常要求你将专业化与劳动分工联系起来，后者是把生产过程拆分为细小、重复的步骤。这两个概念有助于解释为何经济体能够产出更多，也说明了为何某一部分的中断（如供应链中的罢工）会产生广泛影响。

3. Demand, Supply, and Equilibrium | 需求、供给与均衡

Demand is the quantity of a good that consumers are willing and able to buy at various prices over a given period, usually represented by a downward‑sloping curve. Supply is the quantity producers are willing and able to sell, represented by an upward‑sloping curve. The point where they intersect determines the equilibrium price and quantity.

需求是消费者在一定时期内、在不同价格下愿意且能够购买的商品数量，通常表现为一条向下倾斜的曲线。供给是生产者愿意且能够出售的数量，表现为一条向上倾斜的曲线。两者交点决定了均衡价格和均衡数量。

Movements along these curves are caused by price changes, while shifts (outward or inward) are caused by non‑price determinants. For demand, these include income, tastes, prices of substitutes/complements, expectations, and number of buyers. For supply, they include costs of production, technology, taxes/subsidies, weather, and number of sellers. A handy mantra: 'PINS for demand, CWT for supply'.

价格变化导致沿曲线移动，非价格因素则导致整条曲线平移（向外或向内）。需求方面的非价格因素包括收入、偏好、替代品/互补品价格、预期和买方数量；供给方面包括生产成本、技术、税收/补贴、天气和卖方数量。一句口诀：“需求看 PINS，供给记 CWT”。

4. Elasticity: Price, Income, and Cross | 弹性：价格弹性、收入弹性与交叉弹性

Price elasticity of demand (PED) measures responsiveness of quantity demanded to a change in price: PED = %ΔQD ÷ %ΔP. If |PED| > 1, demand is elastic; if |PED| rms forecast revenue changes: when demand is elastic, lowering price raises total revenue.

需求价格弹性（PED）衡量需求量对价格变化的反应程度：PED = %ΔQD ÷ %ΔP。若 |PED| > 1，则需求富有弹性；若 |PED| < 1，则需求缺乏弹性。了解 PED 有助于企业预测收入变化：需求富有弹性时，降价将增加总收入。

Income elasticity of demand (YED) shows how demand responds to changes in income. Normal goods have positive YED, while inferior goods have negative YED. Luxury goods have YED > 1. Cross elasticity of demand (XED) measures the effect of a change in the price of one product on demand for another: positive for substitutes, negative for complements.

需求收入弹性（YED）显示需求如何随收入变化。正常商品具有正的 YED，低档商品具有负的 YED，奢侈品的 YED > 1。需求交叉弹性（XED）衡量一种商品价格变化对另一种商品需求的影响：替代品的 XED 为正，互补品的 XED 为负。

CCEA often uses numerical scenarios: be ready to calculate the elasticity, interpret the coefficient, and explain how it affects business decisions or tax incidence. Remember: 'elastic like a rubber band, inelastic like a rigid brick'.

CCEA 常设计计算题：你需要会计算弹性系数，解读数值，并解释其如何影响商业决策或税收负担。可以这样记：“富有弹性像橡皮筋，缺乏弹性像硬砖块”。

5. Market Failure and Externalities | 市场失灵与外部性

Market failure occurs when the free market fails to allocate resources efficiently, leading to a net social welfare loss. Common causes include externalities, public goods, information gaps, and market power. Externalities are spill‑over effects on third parties: negative externalities (e.g. pollution) create over‑production, while positive externalities (e.g. vaccination) create under‑production.

市场失灵指自由市场无法有效配置资源，导致社会净福利损失。常见原因包括外部性、公共物品、信息不对称和市场势力。外部性是对第三方的溢出效应：负外部性（如污染）导致过度生产，正外部性（如疫苗接种）导致生产不足。

enefits + external benefits. When external costs exist, the free market equilibrium lies above the socially optimum output; therefore, governments may impose a Pigouvian tax equal to the marginal external cost. Diagrams are essential: you must be able to draw and label the two marginal curves and shade the welfare loss triangle.

社会成本 = 私人成本 + 外部成本。社会收益 = 私人收益 + 外部收益。当存在外部成本时，自由市场均衡产量高于社会最优产量；因此，政府可能征收等于边际外部成本的庇古税。图表至关重要：你必须学会绘制并标注两条边际曲线，并画出福利损失三角。

6. Public Goods, Merit and Demerit Goods | 公共物品、优值品与劣值品

Public goods are non‑excludable and non‑rivalrous (e.g. street lighting, national defence). Because private firms cannot easily charge for them, these goods would be under‑provided by the free market, leading to a free‑rider problem. Merit goods (e.g. education, healthcare) are under‑consumed because consumers underestimate their private benefits. Demerit goods (e.g. cigarettes, alcohol) are over‑consumed because consumers ignore long‑term harm.

公共物品具有非排他性和非竞争性（如路灯、国防）。由于私人企业难以对其收费，自由市场供给不足，出现“搭便车”问题。优值品（如教育、医疗）被消费不足，因为消费者低估了其私人收益。劣值品（如香烟、酒精）被消费过度，因为消费者忽视了长期危害。

Governments respond with direct provision (public goods), subsidies (merit goods), taxes and regulation (demerit goods), and information campaigns. On a diagram, merit goods are shown with a marginal social benefit curve above the marginal private benefit curve, while demerit goods have marginal social cost above marginal private cost.

政府的回应手段包括：直接提供（公共物品）、补贴（优值品）、征税与监管（劣值品）以及信息宣传。在图示中，优值品的社会边际收益曲线位于私人边际收益曲线之上，劣值品的社会边际成本曲线位于私人边际成本曲线之上。

7. Macroeconomic Objectives and Indicators | 宏观经济目标与指标

Governments typically pursue four main macro objectives: stable low inflation (target 2% in the UK), high and sustainable economic growth, low unemployment, and a satisfactory balance of payments on current account. Each is measured by a headline indicator: Consumer Price Index (CPI) for inflation, Gross Domestic Product (GDP) for growth, the Labour Force Survey (LFS) for unemployment, and the current account balance for trade.

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政府通常追求四大宏观经济目标：低而稳定的通货膨胀（英国目标为 2%）、持续高速的经济增长、低失业率以及令人满意的经常账户收支。每个目标都有对应的主要指标：通胀看消费者价格指数（CPI），增长看国内生产总值（GDP），失业看劳动力调查（LFS），贸易看经常账户差额。

GDP is the total value of goods and services produced within a country in a year, and can be measured by output, expenditure, or income approaches. Real GDP strips out inflation to show actual volume changes. The claimant count and LFS are two measures of unemployment; the LFS is broader and internationally comparable. Understand the difference between disinflation (falling inflation rate) and deflation (falling price level).

GDP 是一国一年内所生产商品与服务的总价值，可用产出法、支出法或收入法核算。实际 GDP剔除了通胀影响，反映真实的数量变化。申领失业救济人数和 LFS 是衡量失业的两种方法，LFS 覆盖面更广且具有国际可比性。要分清“通胀放缓”与“通货紧缩”：前者是通胀率下降，后者是物价总水平下降。

8. Aggregate Demand (AD) and Its Components | 总需求及其构成

Aggregate demand penditure on domestic goods and services at a given price level. AD = C + I + G + (X − M). C is consumption spending by households, I is investment spending by firms, G is government spending on goods and services, and (X − M) is net exports (exports minus imports).

总需求是在给定价格水平下，对国内商品与服务的计划支出总和。AD = C + I + G + (X − M)。C 是家庭消费支出，I 是企业投资支出，G 是政府商品服务支出，(X − M) 是净出口（出口减进口）。

wer price → lower interest rate → higher I and C), and the international trade effect (lower domestic price → exports relatively cheaper, imports relatively dearer, improving X – inants, such as consumer confidence, fiscal policy, monetary policy, or the exchange rate.

AD 曲线向下倾斜的原因有三：财富效应（较低价格水平提升实际财富，刺激消费）、利率效应（较低价格→较低利率→促进投资和消费）、国际贸易效应（国内价格降低→出口相对便宜、进口相对昂贵，改善净出口）。任何组成部分或其决定因素的变化，如消费者信心、财政政策、货币政策或汇率，都会导致 AD 曲线平移。

9. Short‑Run and Long‑Run Aggregate Supply | 短期与长期总供给

Short‑run aggregate supply (SRAS) shows the quantity of real GDP firms are prepared to supply at each price level; it is upward‑sloping because wages and some input prices are sticky. Shifts in SRAS come from changes in costs of production, such as raw materials, wages, taxes, subsidies, and supply‑side shocks (e.g. an oil price rise).

短期总供给（SRAS）表示企业在每一价格水平下愿意供给的实际 GDP 数量；因其工资和部分投入价格具有粘性，SRAS 曲线向上倾斜。生产成本的变化，如原材料、工资、税收、补贴和供给面冲击（如油价上涨），都会导致 SRAS 平移。

Long‑run aggregate supply (LRAS) represents the economy's potential output when all resources are fully and efficiently employed. The classical LRAS is vertical at the full‑employment level, indicating that in the long run, real GDP is determined by the quantity and quality of factors of production, not by the price level. Keynesian LRAS, by contrast, is horizontal at low output levels (spare capacity), then upward‑sloping, and finally vertical at full capacity.

长期总供给（LRAS）表示所有资源得到充分利用且高效配置时的潜在产出。古典学派的 LRAS 是在充分就业水平处一条垂直线，表明长期中实际 GDP 由生产要素的数量与质量决定，而非价格水平。凯恩斯主义的 LRAS 则在低产出时水平运行（存在闲置产能），随后向上倾斜，最后在充分产能处垂直。

Be prepared to draw both versions and use them to illustrate output gaps. A negative output gap means actual GDP < potential GDP; a positive output gap occurs when the economy is overheating (inflationary pressure).

你要会画出这两种长期总供给曲线，并用它们来解释产出缺口。负产出缺口意味着实际 GDP 低于潜在 GDP；正产出缺口则出现在经济过热（通胀压力）时。

10. Fiscal Policy | 财政政策

Fiscal policy involves the government's use of taxation and spending to influence aggregate demand, resource allocation, and income distribution. Expansionary fiscal policy (increasing G or cutting taxes) is used to boost AD during a recession; contractionary fiscal policy (cutting G or raising taxes) is used to cool an overheated economy.

财政政策指政府通过税收和支出手段影响总需求、资源配置和收入分配。扩张性财政政策（增加 G 或减税）用于在经济衰退时提振 AD；紧缩性财政政策（削减 G 或增税）用于给过热的经济降温。

The government budget can be in surplus (revenue > spending), deficit (spending > revenue), or balanced. Automatic stabilisers – such as progressive taxation and welfare benefits – work without active policy changes: in a downturn, tax revenues fall and benefit spending rises, automatically cushioning the fall in AD. CCEA expects you to evaluate the effectiveness of fiscal policy, considering time lags, the size of the multiplier, and potential crowding out of private investment.

政府预算可能出现盈余（收入大于支出）、赤字（支出大于收入）或平衡。自动稳定器——如累进税制和福利支出——无需刻意调整政策就能起作用：经济下行时，税收自动减少、福利支出自动增加，从而缓和 AD 的下滑。CCEA 要求你能评估财政政策的效果，考虑时滞、乘数大小及可能出现的私人投资挤出效应。

11. Monetary Policy and Supply‑Side Policies | 货币政策与供给端政策

Monetary policy uses interest rates, money supply, and credit conditions to control AD and inflation. The Bank of England's Monetary Policy Committee sets the base rate to meet the 2% inflation target. A lower base rate reduces the cost of borrowing, encourages spending and investment, and often weakens the exchange rate (boosting exports). Quantitative easing (QE) is an unconventional tool where the central bank buys government bonds to inject liquidity into the financial system.

货币政策通过利率、货币供给和信贷条件来调控 AD 与通胀。英格兰银行货币政策委员会设定基准利率，以实现 2% 的通胀目标。降低基准利率会减少借贷成本，鼓励消费和投资，并常常压低汇率（促进出口）。量化宽松（QE）是一种非常规工具，中央银行通过购买政府债券向金融系统注入流动性。

Supply‑side policies aim to increase the economy's productive potential by improving the quality and quantity of factors of production. They include education and training, tax reforms, deregulation, trade union reforms, and infrastructure investment. Unlike demand‑side policies, they target LRAS shifts to the right. A key evaluation point: supply‑side policies often have long implementation lags, but they can deliver non‑inflationary growth.

供给端政策旨在通过提升生产要素的质量和数量来增强经济的生产潜力。措施包括教育培训、税制改革、放松监管、工会改革和基础设施投资。与需求端政策不同，它们着眼于推动 LRAS 向右平移。一个重要评价点：供给端政策通常实施时滞较长，但能带来无通胀的增长。

12. International Trade and the Exchange Rate | 国际贸易与汇率

Comparative advantage explains why countries trade: a country has a comparative advantage in a good if it can produce it at a lower opportunity cost than another country. Even if one nation is absolutely more efficient in everything, both can still gain from trade by specialising according to comparative advantage.

比较优势解释了国家间为何进行贸易：如果一国能以低于另一国的机会成本生产某种商品，它就拥有该商品的比较优势。即便一方在所有商品上都拥有绝对优势，两国仍然可以按照比较优势进行专业化生产并从贸易中获益。

The exchange rate is the price of one currency in terms of another. It can be determined by a floating system (market forces of supply and demand), a fixed system (pegged by the central bank), or a managed float. A depreciation of the pound (weaker £) makes UK exports cheaper and imports dearer, thus improving the trade balance in the long run (Marshall‑Lerner condition applies). An appreciation has the opposite effect.

汇率是一种货币以另一种货币表示的价格。它可由浮动汇率制（市场供求决定）、固定汇率制（央行钉住）或有管理的浮动制决定。英镑贬值（走弱）会使英国出口更便宜、进口更昂贵，从而在长期内改善贸易收支（需满足马歇尔‑勒纳条件）。升值则产生相反效果。

Also remember the current account components: trade in goods, trade in services, primary income (investment income), and secondary income (transfers). A persistent current account deficit may indicate a loss of competitiveness or excessive domestic consumption, but it is not automatically harmful if it finances productive investment.

还要记住经常账户的构成：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）。持续的经常账户赤字可能表明竞争力下降或国内消费过度，但如果用于为生产性投资提供资金，则未必有害。

Published by TutorHao | Economics Revision Series | aleveler.com

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