📚 Year 12 SQA Economics: Vocabulary Fast-Memory Guide | 12年级SQA经济学：词汇速记指南
Economics is a subject built on precise terminology. For SQA Higher Economics, knowing the meaning of key terms is half the battle. This guide presents the most important vocabulary organised into logical groups, each with a memory-friendly English–Chinese explanation to help you revise quickly and effectively.
经济学是一门建筑在精准术语之上的学科。对SQA高等经济学来说，掌握关键术语的含义等于赢了一半。本指南将最重要的词汇按逻辑分组，每组都配有便于记忆的英文–中文解释，帮助你快速高效地复习。
1. Scarcity and Choice | 稀缺性与选择
Scarcity means that resources are limited while human wants are infinite, forcing us to make choices. The fundamental economic problem is scarcity.
稀缺性是指资源有限而人的欲望无限，迫使我们做出选择。根本的经济问题就是稀缺。
Opportunity cost is the next best alternative forgone when a choice is made. Every decision has an opportunity cost.
机会成本是做出选择时所放弃的次优方案。每个决定都有机会成本。
Factors of production are the inputs used to produce goods and services: land (natural resources), labour, capital (man‑made aids) and enterprise (risk‑taking organisation). Remember the acronym 'CELL' — not only for biology!
生产要素是用于生产商品和服务的投入：土地（自然资源）、劳动力、资本（人造辅助物）和企业（承担风险的组织能力）。记住首字母缩写 'CELL'——可不止生物课才用！
Production possibility frontier (PPF) shows the maximum combinations of two goods an economy can produce with given resources and technology. Points inside the curve indicate inefficiency; points outside are unattainable.
生产可能性边界显示一个经济体在给定资源和技术下能生产的两种商品的最大组合。曲线内的点表示无效率；曲线外的点无法达到。
2. Demand and Supply | 需求与供给
Demand is the quantity of a good consumers are willing and able to buy at various prices over a period. The law of demand states that, ceteris paribus, as price falls, quantity demanded rises.
需求是一段时间内消费者在不同价格下愿意且能够购买的数量。需求定律指出，在其他条件不变时，价格下降，需求量上升。
Supply is the quantity producers are willing and able to offer for sale at various prices. The law of supply says that as price rises, quantity supplied rises.
供给是生产者在不同价格下愿意且能够出售的数量。供给定律指出，价格上涨，供给量上升。
Equilibrium price is where quantity demanded equals quantity supplied — no shortage, no surplus. Think of it as the 'balance point'.
均衡价格是需求量等于供给量的价格——没有短缺，没有过剩。把它想象成“平衡点”。
A shift in demand or supply is caused by a change in a non‑price determinant (e.g. income, tastes, costs of production), while a movement along the curve is caused by a change in the good's own price. “Shift the curve, move along” is a core exam skill.
需求或供给的移动由非价格决定因素（如收入、偏好、生产成本）变化引起，而沿曲线移动由该商品自身价格变化引起。“曲线移动与沿线移动”是核心考试技能。
3. Elasticity | 弹性
Price elasticity of demand (PED) measures responsiveness of quantity demanded to a price change. Formula: PED = % change in quantity demanded ÷ % change in price. If PED > 1 it is elastic; if < 1 it is inelastic.
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%。若PED > 1则为弹性；若 < 1则为缺乏弹性。
PED = (ΔQ/Q) ÷ (ΔP/P)
Income elasticity of demand (YED) measures how quantity demanded responds to income changes. Normal goods have positive YED; inferior goods have negative YED.
需求收入弹性衡量需求量对收入变化的反应。正常品YED为正；劣等品YED为负。
Cross elasticity of demand (XED) relates the demand for one good to the price of another. Substitutes have positive XED; complements have negative XED.
需求交叉弹性关联一种商品的需求与另一种商品的价格。替代品XED为正；互补品XED为负。
Price elasticity of supply (PES) measures producers' responsiveness. It depends on time, spare capacity and the mobility of factors. A longer time period makes supply more elastic.
供给价格弹性衡量生产者的反应程度。它取决于时间、闲置产能和要素流动性。时间越长，供给弹性越大。
4. Market Structures | 市场结构
Perfect competition features many buyers and sellers, identical products, free entry and exit, and perfect information. Firms are price takers — they cannot influence the market price.
完全竞争具有众多买者和卖者、同质产品、自由进出和完全信息。企业是价格接受者——无法影响市场价格。
Monopoly exists when a single firm dominates the market, with high barriers to entry such as patents, economies of scale or legal restrictions. Monopolies can set prices but may be regulated.
垄断指一家企业主导市场，存在高进入壁垒，如专利、规模经济或法律限制。垄断者可以定价，但可能受监管。
Oligopoly is a market with a few large firms, often characterised by interdependence and non‑price competition. Collusion — secret cooperation between firms — may occur but is often illegal.
寡头垄断是少数大企业主导的市场，常具有相互依赖和非价格竞争特征。共谋——企业间秘密合作——可能发生，但通常非法。
Monopolistic competition blends many sellers with differentiated products, like restaurants or hairdressers. There is some price‑making power but easy entry.
垄断竞争融合许多卖者与差异化产品，如餐厅或理发店。有一定的定价能力，但进入容易。
5. Market Failure and Government Intervention | 市场失灵与政府干预
Market failure occurs when the free market fails to allocate resources efficiently. Common causes include externalities, public goods, information gaps and market power.
市场失灵指自由市场无法有效配置资源。常见原因包括外部性、公共品、信息不对称和市场势力。
Externalities are third‑party spillover effects. Negative externalities (pollution) create over‑production; positive externalities (vaccination) create under‑production if left to the market.
外部性是第三方溢出效应。负外部性（污染）导致过度生产；正外部性（疫苗接种）若由市场决定则生产不足。
Public goods are non‑excludable and non‑rival. Street lighting is a classic example. Private markets under‑supply them because of the free‑rider problem.
公共品具有非排他性和非竞争性。路灯是经典例子。由于搭便车问题，私人市场对它们供给不足。
Government intervention tools include taxes (Pigouvian taxes to internalise externalities), subsidies, regulations, maximum/minimum prices, and state provision. Each has advantages and risks of government failure.
政府干预工具包括税收（皮古税使外部性内部化）、补贴、规制、最高/最低限价以及国家供给。每种都有优势，也可能导致政府失灵。
6. Macroeconomic Objectives and Indicators | 宏观经济目标与指标
The four main macroeconomic objectives are: low unemployment, stable inflation (CPI ~2%), steady economic growth, and a sustainable balance of payments.
四大宏观经济目标是：低失业、稳定通胀（CPI约2%）、稳定经济增长和可持续的国际收支。
Gross Domestic Product (GDP) is the total value of all final goods and services produced within a country in a year. Real GDP is adjusted for inflation; nominal GDP is not.
国内生产总值是一国一年内生产的所有最终商品与服务的总价值。实际GDP已剔除通胀；名义GDP则未调整。
Unemployment rate yed ÷ labour force) × 100. Cyclical, structural, frictional and seasonal are common types. “If you don't have a job and are actively seeking one, you count.”
失业率 = （失业人数 ÷ 劳动力）× 100。常见类型有周期性、结构性、摩擦性和季节性失业。“没工作且在积极找，才算失业。”
Inflation is a sustained rise in the general price level. Measured by the Consumer Price Index (CPI). Demand‑pull and cost‑push are the two main causes.
通货膨胀是总体物价水平的持续上涨。由消费者价格指数（CPI）衡量。需求拉动型和成本推动型是两大主因。
Balance of payments records all transactions between a country and the rest of the world. The current account includes trade in goods, services, investment income and transfers. A deficit means more imports than exports.
国际收支记录一国与世界其他国家之间的全部交易。经常账户包括商品贸易、服务贸易、投资收入和转移支付。赤字意味着进口多于出口。
7. Fiscal and Monetary Policy | 财政与货币政策
Fiscal policy es involves government spending and taxation to influence the economy. Expansionary fiscal policy (↑G or ↓T) boosts demand; contractionary does the opposite. The budget balance = tax revenue – spending.
财政政策是通过政府支出和税收影响经济。扩张性财政政策（增加G或减少T）刺激需求；紧缩性则相反。预算余额 = 税收收入 – 支出。
Monetary policy uses interest rates, money supply and exchange rates, usually managed by a central bank. Lower interest rates encourage borrowing and spending.
货币政策利用利率、货币供给和汇率，通常由中央银行管理。降低利率鼓励借贷和支出。
Supply‑side policies aim to increase the economy's productive potential by improving efficiency and productivity. Examples include education, tax reforms, deregulation and infrastructure investment. Think 'shift the LRAS right'.
供给侧政策旨在通过提高效率与生产率来增加经济生产潜力。例子包括教育、税制改革、放松管制和基础设施投资。记住“右移长期总供给曲线”。
8. International Trade and Exchange Rates | 国际贸易与汇率
Comparative advantage occurs when a country can produce a good at a lower opportunity cost than another. Even if one country is absolutely more efficient in everything, gains from trade still exist.
比较优势指一国能以比另一国更低的机会成本生产某种商品。即便一国在所有方面都绝对更高效，贸易收益依然存在。
Free trade brings benefits like lower prices, greater variety, economies of scale and technology spread. However, it may also cause job losses and structural adjustments.
自由贸易带来低价、更多选择、规模经济和技术传播等利益。但也可能造成失业和结构性调整。
Protectionism uses tariffs, quotas, subsidies and non‑tariff barriers to shield domestic industries. Tariffs raise import prices; quotas limit import quantities.
保护主义利用关税、配额、补贴和非关税壁垒保护国内产业。关税提高进口价格；配额限制进口数量。
Exchange rate is the price of one currency in terms of another. Appreciation (stronger) makes exports dearer and imports cheaper; depreciation does the reverse. Managed floating is common.
汇率是一种货币以另一种货币表示的价格。升值（走强）使出口更贵、进口更便宜；贬值则相反。有管理的浮动汇率制很常见。
9. Economic Growth and Development | 经济增长与发展
Economic growth is measured by the percentage increase in real GDP over time. It can be caused by rising inputs (labour, capital) or productivity gains. Sustainable growth avoids environmental damage.
经济增长通过实际GDP随时间的百分比增长来衡量。可由投入增加（劳动、资本）或生产率提高引起。可持续增长避免环境损害。
Human Development Index (HDI) combines income, education and life expectancy to measure wellbeing. It reminds us that GDP alone is not enough to gauge progress.
人类发展指数综合收入、教育和寿命衡量福祉。它提醒我们，仅靠GDP不足以衡量进步。
10. Quick‑Memory Tables for Key Terms | 关键术语速记表
The following tables group easily confused concepts side by side. Hold them in your short‑term memory before the exam.
以下表格将容易混淆的概念并列分组。考试前把它们锁定在短期记忆中。
| English Term | 中文术语 | Memory Trigger |
|---|---|---|
| Movement along curve | 沿曲线移动 | Caused by price change only | 仅价格变化引起 |
| Shift of curve | 曲线移动 | A 'PINT' of shifters: Population, Income, related goods, Tastes | 非价格因素，记住PINT |
| Nominal GDP | 名义GDP | At current prices, like “name tag” on a shirt — shows today's price | 像衣服上的价签，今天的价格 |
| Real GDP | 实际GDP | Inflation‑adjusted, “real” purchasing power | 剔除通胀，“真实的”购买力 |
| Cost‑push inflation | 成本推动型通胀 | Push from rising costs of production | 生产成本推高物价 |
| Demand‑pull inflation | 需求拉动型通胀 | Pull from too much spending chasing too few goods | 过多支出追逐过少商品拉动价格 |
Published by TutorHao | Economics Revision Series | aleveler.com
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