📚 GCSE WJEC Economics: End-of-Term Revision Guide | GCSE WJEC 经济：期末复习提纲
This revision guide covers the core topics from both Unit 1 (How Markets Work) and Unit 2 (How the Economy Works) of the WJEC GCSE Economics specification. Use it to consolidate your understanding of key concepts, diagrams, and real-world applications before the final assessment. Each section is structured to offer concise definitions and explanations, followed by their Chinese translations, so you can revisit tricky terms in either language.
本复习提纲覆盖WJEC GCSE经济学单元一（市场如何运作）和单元二（经济如何运作）的全部核心主题。在期末评估前，用它来巩固你对关键概念、图表和实际应用的理解。每个部分都先给出简洁的定义与解释，然后附上对应的中文翻译，方便你用任一语言回顾易混淆的术语。
1. Basic Economic Concepts | 基本经济概念
The fundamental economic problem is scarcity: unlimited wants but limited resources. This forces societies to answer three questions – what to produce, how to produce, and for whom to produce.
基本经济问题是稀缺性：无限的需求与有限的资源。这就迫使每个社会都必须回答三个问题——生产什么、如何生产、为谁生产。
Opportunity cost is the next best alternative forgone when an economic choice is made. Every decision involves a trade-off.
机会成本是在做出经济选择时所放弃的次优替代品。每一个决策都涉及权衡取舍。
Factors of production are land, labour, capital and enterprise. Land earns rent, labour earns wages, capital earns interest, and enterprise earns profit.
生产要素包括土地、劳动、资本和企业家才能。土地获得地租，劳动获得工资，资本获得利息，企业家才能获得利润。
Production possibility curves (PPCs) show the maximum combinations of two goods an economy can produce with full employment of resources. Points inside the curve indicate inefficiency; shifts outward represent economic growth.
生产可能性曲线显示一个经济体在资源充分利用时所能生产的两种商品的最大数量组合。曲线内部的点表示无效率；曲线向外移动代表经济增长。
2. Demand and Supply | 需求与供给
The law of demand states that, ceteris paribus, as the price of a good rises, quantity demanded falls. A change in price causes a movement along the demand curve.
需求定律指出，在其他条件不变的情况下，商品价格上升，需求量减少。价格变动导致沿需求曲线的移动。
Factors shifting the demand curve include changes in income, tastes, prices of substitutes/complements, population, and expectations.
使需求曲线移动的因素包括收入变化、偏好、替代品/互补品价格、人口和预期。
The law of supply states that, ceteris paribus, as the price of a good rises, quantity supplied rises. Rising costs of production, technology improvements, taxes, subsidies, and number of suppliers shift the supply curve.
供给定律指出，在其他条件不变的情况下，价格上升，供给量增加。生产成本上升、技术改进、税收、补贴和供应商数量变化会使供给曲线移动。
Market equilibrium occurs where demand equals supply. Excess demand pushes price up; excess supply pushes price down until the market clears.
市场均衡出现在需求等于供给之处。超额需求推动价格上升；超额供给推动价格下降，直至市场出清。
3. Price Elasticity | 价格弹性
demand (PED) measures the responsiveness of quantity demanded to a change in price. PED = % change in quantity demanded divided by % change in price.
需求价格弹性衡量需求量对价格变动的反应程度。PED = 需求量变动百分比 ÷ 价格变动百分比。
tal revenue moves with price. Unitary elasticity (PED = 1) leaves total revenue unchanged.
若PED > 1，需求富有价格弹性，总收入与价格反方向变动。若PED < 1，需求缺乏价格弹性，总收入与价格同向变动。单位弹性（PED = 1）时总收入不变。
Price elasticity of supply (PES) measures the responsiveness of quantity supplied to price changes. Factors affecting PES include time period, availability of spare capacity, and ease of storing stocks.
供给价格弹性衡量供给量对价格变动的反应程度。影响PES的因素包括时间长短、闲置产能的可获得性和储存难易程度。
f demand (XED) help classify goods as normal, inferior, substitutes, or complements. YED = % change in quantity demanded divided by % change in income.
需求的收入弹性和交叉弹性有助于将商品划分为正常品、低档品、替代品或互补品。YED = 需求量变动百分比 ÷ 收入变动百分比。
4. 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. Main types include externalities, public goods, information gaps, and market power.
当自由市场无法有效配置资源时，便出现市场失灵。主要类型包括外部性、公共品、信息不对称和市场势力。
Negative externalities (e.g. pollution) cause overproduction because private costs are lower than social costs. Positive externalities (e.g. education) cause underproduction because private benefits are lower than social benefits.
负外部性（如污染）导致过度生产，因为私人成本低于社会成本。正外部性（如教育）导致生产不足，因为私人收益低于社会收益。
Public goods are non-excludable and non-rival. The free-rider problem means they will be underprovided by the market, justifying government provision.
公共品具有非排他性和非竞争性。搭便车问题意味着市场会提供不足，从而为政府供给提供理由。
Governments intervene through taxation (e.g. sugar tax), subsidies, regulation, tradable permits, and direct provision. Each method has costs, unintended consequences, and effectiveness limitations.
政府通过税收（如糖税）、补贴、管制、可交易许可证和直接供给进行干预。每种方法都有成本、意外后果和有效性局限。
5. Production, Costs and Market Structures | 生产、成本与市场结构
Productivity measures output per unit of input. Specialisation and division of labour raise productivity but may cause worker boredom and dependency.
生产率衡量每单位投入的产出。专业化和劳动分工提高生产率，但可能导致工人厌倦和相互依赖。
w materials). Total cost = fixed cost + variable cost. Average cost = total cost ÷ output.
固定成本不随产量变化（如租金）；可变成本随产量变化（如原材料）。总成本 = 固定成本 + 可变成本。平均成本 = 总成本 ÷ 产量。
Economies of scale reduce average costs as output rises, while diseconomies of scale push average costs up. Internal economies include technical, managerial, financial, and marketing advantages.
规模经济随着产量上升降低平均成本，规模不经济则使平均成本上升。内部规模经济包括技术、管理、财务和营销方面的优势。
GCSE covers characteristics of competitive markets, oligopoly, and monopoly. Monopoly power can result in higher prices and lower output, but may also generate dynamic efficiency through innovation.
GCSE涵盖竞争市场、寡头垄断和垄断的特征。垄断势力可能导致更高价格和更低产量，但也可能通过创新产生动态效率。
6. Macroeconomic Objectives and Indicators | 宏观经济目标与指标
The main government macroeconomic objectives are low unemployment, stable low inflation, economic growth, and a sustainable balance of payments. Some governments also prioritise reduced inequality and environmental protection.
主要的政府宏观经济目标是低失业率、稳定低通胀、经济增长和可持续的国际收支平衡。一些政府还将减少不平等和环境保护列为优先目标。
Unemployment is measured by the claimant count and the Labour Force Survey. Types include cyclical, structural, frictional, and seasonal unemployment.
失业通过申领人数和劳动力调查来衡量。类型包括周期性失业、结构性失业、摩擦性失业和季节性失业。
Inflation is a sustained rise in the general price level, measured by the Consumer Prices Index (CPI) and Retail Prices Index (RPI). Cost-push and demand-pull are the two main causes.
通货膨胀是物价总水平的持续上涨，用消费者价格指数(CPI)和零售价格指数(RPI)衡量。成本推动和需求拉动是两大主要原因。
Economic growth is the increase in the productive capacity of the economy, shown by a rise in real GDP. Short-run growth uses spare capacity; long-run growth requires an outward shift of the PPC or LRAS.
经济增长是经济生产能力的提高，表现为实际 GDP 的增加。短期增长利用闲置产能；长期增长需要生产可能性曲线或长期总供给曲线向外移动。
7. Macroeconomic Policy | 宏观经济政策
Fiscal policy involves changes in government spending and taxation. Expansionary fiscal policy (lower taxes/higher spending) aims to boost demand, while contractionary policy reduces inflationary pressure.
财政政策涉及政府支出和税收的变动。扩张性财政政策（减税/增加支出）旨在刺激需求，而紧缩性政策降低通胀压力。
Monetary policy, operated by the Bank of England, adjusts the base interest rate and uses quantitative easing to influence aggregate demand and inflation, targeting 2% CPI.
由英格兰银行操作的货币政策通过调整基准利率和量化宽松来影响总需求和通胀，目标是 2% 的消费者价格指数通胀。
Supply-side policies aim to increase the economy's productive potential. Examples include investment in education and training, lower corporation tax, deregulation, and trade union reform.
供给侧政策旨在提高经济的生产能力。例子包括教育和培训投资、降低公司税、放松管制和工会改革。
Conflicts between objectives can arise: reducing unemployment may cause inflation; growth may worsen the trade balance. Policymakers face trade-offs.
目标之间可能出现冲突：降低失业可能引发通胀；增长可能恶化贸易差额。决策者面临权衡取舍。
8. International Trade and Globalisation | 国际贸易与全球化
Free trade allows countries to specialise according to comparative advantage, leading to higher world output and lower prices for consumers. The main arguments for protectionism include protecting infant industries, preventing dumping, and safeguarding jobs.
自由贸易使各国按比较优势进行专业化生产，从而提高世界总产出并降低消费者价格。贸易保护主义的主要论点包括保护幼稚产业、防止倾销和保障就业。
Protectionist measures include tariffs, quotas, subsidies to domestic producers, and non-tariff barriers (e.g. strict regulations). Each creates welfare loss and higher prices for domestic consumers.
保护主义措施包括关税、配额、对国内生产者的补贴以及非关税壁垒（如严格法规）。每种措施都会造成福利损失和国内消费者面临更高价格。
Globalisation is the increasing integration of economies through trade, investment, and technology. It brings benefits like cheaper goods and technology transfer, but also challenges like job displacement and environmental damage.
全球化是各经济体通过贸易、投资和技术日益一体化的过程。它带来了更廉价的商品和技术转移等好处，但也带来了岗位流失和环境损害等挑战。
The World Trade Organization (WTO) promotes trade liberalisation by reducing barriers and settling disputes. Regional trade blocs (e.g. EU) create free trade among members.
世界贸易组织通过减少壁垒和解决争端来促进贸易自由化。区域贸易集团（如欧盟）在成员之间创造自由贸易。
9. Exchange Rates and the Balance of Payments | 汇率与国际收支
An exchange rate is the price of one currency in terms of another. In a floating system, the rate is determined by demand and supply of currencies on foreign exchange markets.
汇率是一种货币以另一种货币表示的价格。在浮动汇率制度下，汇率由外汇市场上货币的供求决定。
A depreciation (fall in value) makes exports cheaper and imports dearer, improving the trade balance if the Marshall-Lerner condition holds. An appreciation has the opposite effect.
本币贬值使出口更便宜、进口更昂贵，若马歇尔-勒纳条件成立，则贸易收支改善。升值则产生相反效果。
The balance of payments current account records trade in goods, trade in services, investment income, and transfers. A persistent deficit may indicate a lack of competitiveness.
国际收支经常账户记录货物贸易、服务贸易、投资收益和转移支付。持续逆差可能表明缺乏竞争力。
10. Economic Development and Sustainability | 经济发展与可持续性
Economic development differs from growth; it includes improvements in living standards, health, education, and freedom. The Human Development Index (HDI) combines income, life expectancy, and education.
经济发展有别于增长；它包括生活水平、健康、教育和自由等方面的改善。人类发展指数(HDI)综合了收入、预期寿命和教育三项指标。
Absolute poverty is a severe lack of basic needs; relative poverty is being poor compared to the average in a society. Economic growth can reduce absolute poverty, but redistribution policies are often needed.
绝对贫困是基本需求的严重匮乏；相对贫困则是与社会平均水平相比处于贫困状态。经济增长可以减少绝对贫困，但通常需要再分配政策。
Sustainable development meets present needs without compromising future generations. Policies include carbon taxes, renewable energy subsidies, and circular economy initiatives.
可持续发展在满足当代需求的同时不损害后代的能力。政策包括碳税、可再生能源补贴和循环经济倡议。
Governments use foreign aid, debt relief, and fair trade schemes to support development. Each faces debates over effectiveness, dependency, and corruption.
政府利用对外援助、债务减免和公平贸易计划来支持发展。每种方式都面临有效性、依赖性和腐败方面的争论。
Published by TutorHao | Economics Revision Series | aleveler.com
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