📚 Year 7 CIE Economics: Vocabulary & Terminology Quick-Reference Guide | Year 7 CIE 经济：词汇术语速记指南
Mastering the language of Economics is the first step toward understanding how the world works. This guide breaks down the most essential Year 7 CIE Economics terms into simple, easy-to-remember explanations, paired with clear examples. Use it to build your economic vocabulary and boost your confidence for class discussions and exams.
掌握经济学的语言是理解世界如何运作的第一步。本指南将Year 7 CIE经济学科最基础的术语拆解为简单易记的解释，并配以清晰的例子。用它来积累你的经济学词汇，增强课堂讨论和考试的信心。
1. Scarcity and Choice | 稀缺性与选择
Scarcity is the fundamental economic problem that arises because resources are limited, but human wants are unlimited. We cannot have everything we desire.
稀缺性是根本的经济问题，它的产生是因为资源有限，而人类的欲望无限。我们无法拥有所有想要的东西。
Because of scarcity, individuals, businesses, and governments must make choices. Every choice involves deciding how to use limited resources to satisfy the most important needs and wants.
由于稀缺性的存在，个人、企业和政府都必须做出选择。每一次选择都涉及如何利用有限的资源来满足最重要的需求与欲望。
A key concept here is that resources (such as time, money, land, and labour) are scarce, meaning there is not enough of them to fulfil every possible use. This forces us to prioritise.
这里一个关键概念是资源（如时间、金钱、土地和劳动力）都是稀缺的，意味着无法满足所有可能的用途。这迫使我们进行取舍。
Scarcity is different from a shortage. A shortage is temporary and can be resolved, but scarcity is permanent because our wants will always outstrip the available resources.
稀缺性与短缺不同。短缺是暂时的，可以得到解决，但稀缺性是永久的，因为我们的欲望永远超过可用资源。
2. Needs and Wants | 需要与欲望
Needs are things that are essential for survival, such as food, water, shelter, and clothing. Without these, a person's life or health would be at risk.
需要是生存所必需的东西，例如食物、水、住所和衣物。没有这些，人的生命或健康就会受到威胁。
Wants are things that people desire but are not necessary for survival. Examples include video games, holidays, and luxury cars. Wants are unlimited and vary from person to person.
欲望是人们渴望但不一定为生存所需的东西。例子包括电子游戏、度假和豪华汽车。欲望是无限的，且因人而异。
Some items can be both a need and a want depending on the context. For instance, a basic mobile phone may be a need for communication, while the latest smartphone is a want.
有些物品根据情境既可以是需要也可以是欲望。例如，基本款手机可能是沟通的需要，而最新款智能手机则是欲望。
Understanding the difference helps economists analyse how people make spending decisions when their resources are scarce, and how their choices might change if their income increases.
理解这一区别有助于经济学家分析人们在资源稀缺时如何做出消费决定，以及当收入增加时他们的选择可能会如何改变。
3. Opportunity Cost | 机会成本
Opportunity cost is the next best alternative given up when a choice is made. It is not simply the amount of money spent, but the value of what you could have done or bought instead.
机会成本是做出选择时所放弃的次优替代方案。它不仅仅是花费的金钱数额，更是你本可以去做或购买的次优选择的价值。
For example, if you have one hour to either study economics or play football, and you choose to study, the opportunity cost is the enjoyment and exercise you would have gained from playing football.
例如，如果你有一个小时可以用来学习经济或者踢足球，而你选择了学习，那么机会成本就是你踢足球本可获得的乐趣和锻炼。
The concept can be expressed simply:
这一概念可以简单表示为：
Opportunity Cost = Benefit of Next Best Alternative Foregone
Every decision has an opportunity cost, even if no money changes hands. When a government decides to build a hospital on a piece of land, the opportunity cost is the school or park that could have been built there instead.
每一项决策都有机会成本，即使没有金钱易手。当政府决定在一块土地上建造医院时，机会成本就是本可建在那里的学校或公园。
4. Goods and Services | 商品与服务
Goods are tangible items that can be seen and touched, like a pencil, a mobile phone, or a sandwich. They are physical objects produced for consumption.
商品是有形的、能够看见和触摸的物品，例如铅笔、手机或三明治。它们是生产出来供消费的实物。
Services are intangible activities provided by others, such as haircuts, teaching, banking, and transportation. You consume them at the moment they are produced.
服务是他人提供的无形活动，如理发、教学、银行和运输。你在服务产生的那一刻就消费了它们。
Both goods and services are produced using scarce resources to satisfy people's needs and wants. The output of an economy is often measured by the total value of goods and services produced over a given period.
商品和服务都使用稀缺资源来生产，以满足人们的需要和欲望。一个经济体的产出通常以一定时期内生产的商品和服务的总价值来衡量。
Some items combine goods and services. For example, a restaurant meal includes the good (food) and the service (cooking and serving).
有些物品结合了商品和服务。例如，一顿餐馆餐食包括了商品（食物）和服务（烹饪与上菜）。
5. Factors of Production | 生产要素
The factors of production are the resources used to produce goods and services. They are traditionally grouped into four categories: land, labour, capital, and enterprise.
生产要素是用于生产商品和服务的资源。传统上分为四类：土地、劳动力、资本和企业家才能。
Land refers to all natural resources, including minerals, forests, water, and land itself. Labour is the human effort, both physical and mental, used in production. Capital means man-made tools and machinery (like factory equipment, computers) used to create more goods. Enterprise is the ability to combine the other factors and take risks in starting a business.
土地指所有自然资源，包括矿产、森林、水域和土地本身。劳动力是生产中使用的体力和脑力人力。资本指用于生产更多商品的人造工具和机器（如工厂设备、电脑）。企业家才能是组合其他要素并承担风险创业的能力。
Rewards for each factor are known as factor incomes: land earns rent, labour earns wages, capital earns interest, and enterprise earns profit.
各要素所得报酬称为要素收入：土地获得地租，劳动力获得工资，资本获得利息，企业家获得利润。
In any economy, the quantity and quality of these factors determine how much can be produced. Building better education and training improves the quality of labour, which is often called human capital.
在任何经济体中，这些要素的数量和质量决定了能够生产多少。通过提供更好的教育和培训可以提高劳动力质量，这通常被称为人力资本。
6. Production and Consumption | 生产与消费
Production is the process of combining inputs (factors of production) to create outputs (goods and services) that satisfy human wants. Any activity that adds value to a resource can be considered production.
生产是将投入（生产要素）组合起来创造产出（商品和服务）以满足人类欲望的过程。任何为资源增加价值的活动都可以视为生产。
Consumption is the act of using goods and services to satisfy needs and wants. When you eat an
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