📚 KS3 WJEC Economics: Vocabulary and Terminology Quick Memorisation Guide | KS3 WJEC 经济：词汇术语速记指南
In KS3 Economics for WJEC, understanding key vocabulary is your first step to thinking like an economist. This guide breaks down essential terms with clear definitions and memory aids so you can recall them quickly for classwork, homework and tests.
在 WJEC 的 KS3 经济课程中，理解关键词汇是像经济学家一样思考的第一步。本指南分解了必不可少的术语，配有清晰的定义和记忆辅助，方便你在课堂作业、家庭作业和考试中快速回忆。
1. Scarcity and Choice | 稀缺与选择
Scarcity is the fundamental economic problem. It means we have limited resources such as land, labour, capital and enterprise, but unlimited wants for food, entertainment, travel and more.
稀缺是基本的经济问题。它意味着我们的资源（如土地、劳动、资本和创业精神）有限，但我们对食物、娱乐、旅行等的欲望是无限的。
Because of scarcity, we cannot have everything. We must choose how to use our resources, which leads to the idea of trade-offs. Every choice involves giving something up.
由于稀缺，我们不能拥有一切。我们必须选择如何使用资源，这就产生了权衡的概念。每一个选择都意味着放弃某些东西。
2. Opportunity Cost | 机会成本
The opportunity cost of a choice is the value of the next best alternative foregone. For example, if you spend £10 on a cinema ticket, you cannot spend that £10 on a book – the lost enjoyment from the book is your opportunity cost.
机会成本是指为了做出一项选择而放弃的次优替代品的价值。例如，如果你花10英镑买电影票，就无法用这10英镑买书——失去从书中获得的乐趣就是你的机会成本。
A handy memory phrase: 'Opportunity cost is the road not taken.' Always ask yourself, 'What am I giving up?'
一个方便的记忆语：“机会成本是未曾踏上的道路。” 总是问自己：“我放弃了什么？”
3. Needs and Wants | 需求与欲望
Needs are things we must have to survive, such as food, water, shelter and clothing. Wants are things we desire but can live without, like a new phone, designer shoes or a holiday abroad.
需求是生存所必需的东西，如食物、水、住所和衣物。欲望是我们渴望但非生存必需的东西，比如新手机、名牌鞋或出国度假。
Economists often say that wants are unlimited – there is always something more we would like to have, even when our basic needs are met.
经济学家常说欲望是无限的——即使基本需求得到了满足，我们总是还有更多想要的东西。
4. Goods and Services | 产品与服务
Goods are tangible items that we can touch, like a bicycle, a sandwich or a textbook. Services are intangible activities performed for us, such as a haircut, an online music stream or public transport.
产品是我们可以触摸的有形物品，如自行车、三明治或教科书。服务是为我们执行的无形活动，如理发、在线音乐流或公共交通。
A simple trick: if you can drop it on your foot, it's probably a good; if you cannot, it's a service. Be careful – some products combine both, like a restaurant meal (the food is a good, the cooking and serving are services).
一个简单的窍门：如果某物能掉下来砸到你的脚，那很可能是产品；如果不能，那就是服务。注意——有些产品结合了两者，比如餐厅用餐（食物是产品，烹饪和服务是服务）。
5. Demand and Supply | 需求与供给
Demand is the quantity of a good or service that consumers are willing and able to buy at a given price. Generally, when price falls, demand rises – this is the law of demand.
需求是指消费者在给定价格下愿意并且能够购买的产品或服务的数量。一般来说，价格下降时，需求量上升——这就是需求定律。
Supply is the quantity that producers are willing and able to sell at a given price. Usually, when price rises, supply increases – the law of supply. Think of a hot chocolate stand on a cold day: higher prices might encourage you to make more cups.
供给是指生产者在给定价格下愿意并且能够销售的数量。通常，价格上升时，供给量增加——供给定律。想像一个冷天的热巧克力摊：更高的价格可能会激励你做出更多杯。
To remember the difference, demand is about buyers (think 'the public wants things'), supply is about sellers (think 'firms supply').
记住区别：需求关乎买家（想‘公众想要东西’），供给关乎卖家（想‘企业供应’）。
6. Market and Price | 市场与价格
A market is any place where buyers and sellers meet to exchange goods and services – this could be a physical shop, a farmers' market or an online platform like an app store.
市场是买家和卖家相遇以交换产品与服务的任何地方——可以是实体商店、农贸市场或像应用商店这样的在线平台。
The price mechanism describes how prices are determined by the interaction of demand and supply. If demand exceeds supply, prices tend to rise, signalling producers to make more. If supply exceeds demand, prices tend to fall.
价格机制描述的是供需互动如何决定价格。若需求超过供给，价格趋于上涨，向生产者发出增加生产的信号。若供给超过需求，价格趋于下跌。
A visual cue: imagine a seesaw with demand on one side and supply on the other; the balance point is the market price.
一个视觉提示：想像一个跷跷板，一边是需求，另一边是供给；平衡点便是市场价格。
7. Consumers and Producers | 消费者与生产者
Consumers are individuals or groups who use goods and services to satisfy their needs and wants. Their aim is to maximise satisfaction or utility given their limited income.
消费者是使用产品与服务以满足其需求和欲望的个人或群体。他们的目标是在有限收入下最大化满意度或效用。
Producers are those who make and sell goods and services. They aim to maximise profit by keeping costs low and selling at the best possible price.
生产者是制造和销售产品与服务的人。他们的目标是通过保持低成本并以尽可能高的价格销售来实现利润最大化。
A catchy phrase: 'Consumers consume, producers produce.' Easy to remember!
一句顺口溜：“消费者消费，生产者生产。” 这样容易记！
8. Factors of Production | 生产要素
Economists group resources used to produce goods and services into four categories: land (natural resources), labour (human effort), capital (man‑made tools and machinery) and enterprise (the ability to bring the other three together and take risks).
经济学家将用于生产产品与服务的资源分为四类：土地（自然资源）、劳动（人力努力）、资本（人造工具和机器）以及创业精神（将其他三者结合起来并承担风险的能力）。
Mnemonic: 'Land, Labour, Capital, Enterprise' can be recalled with the phrase 'Lads Love Cool E‑sports' or simply the initials LLCE. Pick whichever sticks!
记忆口诀：“土地、劳动、资本、创业” 可以借助“LLCE”这四个首字母来记忆，也可以用中文的“土劳资创”联想。
9. Costs, Revenue and Profit | 成本、收益与利润
Costs are the expenses a business incurs to produce its goods or services, such as wages, raw materials and rent. Revenue is the income a business receives from selling its output.
成本是企业为生产其产品与服务而产生的开支，如工资、原材料和租金。收益是企业从销售其产出中获得的收入。
Profit is what remains when total revenue exceeds total costs. If costs are higher than revenue, the business makes a loss.
利润是当总收益超过总成本时剩余的部分。如果成本高于收益，企业就会亏损。
A simple formula to keep in mind:
Profit = Total Revenue − Total Cost
要牢记一个简单公式：
利润 = 总收益 − 总成本
10. Specialisation and Trade | 专业化与贸易
Specialisation occurs when individuals, businesses or countries concentrate on producing a narrow range of goods or services where they have an advantage. This increases efficiency and output.
专业化发生在个人、企业或国家集中生产他们具有优势的少数产品与服务上。这提高了效率和产出。
Trade allows them to exchange their surplus for other goods they need. The result is that everyone can enjoy a greater variety of products than if they tried to be self‑sufficient.
贸易使他们能够用剩余产品换取所需的其它产品。结果是每个人都能享受到比自给自足时更丰富的产品种类。
Think of a school project: if you are good at research and your friend is good at design, specialising and then combining your work leads to a better outcome. That's the power of specialisation and exchange.
想想学校项目：如果你擅长研究而朋友擅长设计，各自专业化然后结合成果会得到更好的结果。这就是专业化与交换的力量。
Published by TutorHao | KS3 Economics Revision Series | aleveler.com
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