📚 Year 9 SQA Economics: Key Terminology Quick-Reference Guide | 苏格兰资格认证局九年级经济：关键术语速查指南
Mastering economic terminology is the first step to understanding how the world works. This guide covers essential terms for the SQA Year 9 Economics course, helping you build a solid foundation and remember key concepts quickly through bilingual definitions.
掌握经济学术语是理解世界运作方式的第一步。本指南涵盖苏格兰资格认证局（SQA）九年级经济课程的核心词汇，通过中英双语定义帮助你打下坚实基础并快速记忆关键概念。
1. Scarcity and Choice | 稀缺性与选择
Scarcity is the fundamental economic problem that arises because resources are limited while human wants are unlimited. It forces individuals, firms and governments to make choices.
稀缺性是基本经济问题，源于资源有限而人类的欲望无限。它迫使个人、企业和政府做出选择。
Choice involves deciding between different alternatives whenever scarcity exists. Every choice involves a trade-off, giving up something to gain something else.
选择是指在存在稀缺性的情况下在不同方案之间做出决定。每一个选择都涉及权衡取舍，即放弃某物以获得他物。
Opportunity Cost is the value of the next best alternative that is forgone when a choice is made. It represents the real cost of any decision.
机会成本是指做出一种选择时所放弃的次优替代方案的价值，代表任何决定的真实成本。
Economic Goods are items that are scarce relative to demand and therefore command a price, while free goods are abundant and have no opportunity cost, such as air.
经济物品是相对于需求来说稀缺的物品，因此具有价格；而免费物品则十分充裕且没有机会成本，例如空气。
2. Factors of Production | 生产要素
Land includes all natural resources used in production, such as soil, minerals, water and forests. The reward for land is rent.
土地包括所有用于生产的自然资源，如土壤、矿产、水和森林。土地的报酬是地租。
Labour is the human effort, both physical and mental, used in production. The reward for labour is wages or salaries.
劳动是生产中使用的体力和脑力劳动。劳动的报酬是工资或薪金。
Capital refers to man-made goods used to produce other goods and services, such as machinery, tools and factories. The reward for capital is interest.
资本指用于生产其他商品和服务的人造物品，如机器、工具和厂房。资本的报酬是利息。
Enterprise (or entrepreneurship) is the willingness to take risks to organise the other three factors and bring production to life. The reward for enterprise is profit.
企业家精神是指愿意承担风险来组织其他三种要素并将生产付诸实践的意愿。企业家精神的报酬是利润。
3. Supply and Demand | 供给与需求
Demand is the quantity of a good or service that consumers are willing and able to buy at various prices over a period of time. The law of demand states that, ceteris paribus, quantity demanded falls as price rises.
需求是消费者在一定时期内愿意并能够以不同价格购买的商品或服务数量。需求定律表明，在其他条件不变的情况下，价格上涨时需求量下降。
Supply is the quantity of a good or service that producers are willing and able to offer for sale at various prices. The law of supply states that quantity supplied rises as price rises.
供给是生产者愿意并能够以不同价格提供销售的商品或服务数量。供给定律表明，价格上涨时供给量增加。
Equilibrium Price (market-clearing price) is the price at which quantity demanded equals quantity supplied. There is no surplus or shortage at this point.
均衡价格（市场出清价格）是需求量等于供给量时的价格。在这一点上没有过剩或短缺。
Key factors affecting demand and supply can be compared:
影响需求与供给的关键因素对比如下：
| Factors shifting demand (PIRATES) | Factors shifting supply (PINTS) |
|---|---|
| Population, Income, Related goods (substitutes/complements), Advertising, Tastes, Expectations, Seasons | Productivity, Indirect taxes, Number of firms, Technology, Subsidies |
(PIRATES: Population/Income/Related goods/Advertising/Tastes/Expectations/Seasons; PINTS: Productivity/Indirect taxes/Number of firms/Technology/Subsidies)
4. Elasticity Basics | 弹性基础
Price Elasticity of Demand (PED) measures how responsive quantity demanded is to a change in price. It is calculated as: % change in quantity demanded ÷ % change in price. If PED > 1, demand is elastic; if PED < 1, demand is inelastic.
需求价格弹性（PED）衡量需求量对价格变动的反应程度。计算公式为：需求量变化百分比 ÷ 价格变化百分比。若 PED > 1，需求富有弹性；若 PED < 1，需求缺乏弹性。
Price Elasticity of Supply (PES) measures how responsive quantity supplied is to a change in price. Supply is more elastic when producers can adjust production quickly.
供给价格弹性（PES）衡量供给量对价格变动的反应程度。当生产者能够快速调整产量时，供给更具弹性。
Income Elasticity of Demand (YED) measures the responsiveness of demand to a change in consumer incomes. Normal goods have positive YED; inferior goods have negative YED.
需求收入弹性（YED）衡量需求对消费者收入变动的反应程度。正常品的 YED 为正；低档品的 YED 为负。
5. Types of Goods and Services | 商品与服务的类型
Private Goods are both rival (one person's consumption reduces availability for others) and excludable (non-payers can be prevented from using them), e.g. an apple.
私人物品既具有竞争性（一人的消费减少他人的可用量）又具有排他性（可阻止未付费者使用），例如苹果。
Public Goods are non-rival and non-excludable, e.g. street lighting. They tend to be under-provided by the free market due to the free-rider problem.
公共物品具有非竞争性和非排他性，例如路灯。由于搭便车问题，自由市场往往供给不足。
Merit Goods are goods that society thinks everyone should have, regardless of ability to pay, like education and healthcare. They generate positive externalities.
优值品是社会认为人人皆应享有的物品，无论支付能力，如教育和医疗。它们产生正外部性。
Demerit Goods are goods considered harmful to individuals and society, such as tobacco. They generate negative externalities.
劣值品是对个人和社会有害的物品，如烟草。它们产生负外部性。
Substitute Goods can be used in place of each other (tea and coffee). An increase in the price of one leads to an increase in demand for the other.
替代品是可以互相替代使用的商品（如茶和咖啡）。一种商品的价格上涨会导致对另一种商品的需求增加。
Complementary Goods are used together (printer and ink). An increase in the price of one leads to a decrease in demand for the other.
互补品是一起使用的商品（如打印机和墨盒）。一种商品的价格上涨会导致对另一种商品的需求减少。
6. Costs, Revenue and Profit | 成本、收益与利润
Fixed Costs do not vary with the level of output in the short run, e.g. rent, insurance. They must be paid even if production is zero.
固定成本在短期内不随产量水平变化，如租金、保险。即使产量为零也必须支付。
Variable Costs change directly with output, e.g. raw materials, piece-rate wages. Total costs = fixed costs + variable costs.
可变成本直接随产量变化，如原材料、计件工资。总成本 = 固定成本 + 可变成本。
Average Cost is total cost divided by the number of units produced. It falls as output increases initially due to spreading fixed costs, but may rise later due to diseconomies of scale.
平均成本是总成本除以生产的单位数量。一开始由于分摊固定成本，平均成本随产量增加而下降，但后期可能因规模不经济而上升。
Total Revenue is the money a firm receives from selling its output: Price × Quantity sold.
总收入是企业销售产品所获得的全部款项：价格 × 销售数量。
Profit is total revenue minus total costs. It is the reward for risk-taking and the main incentive for production in a market economy.
利润是总收入减去总成本。它是承担风险的报酬，也是市场经济中生产的主要动力。
7. Market Structures | 市场结构
Perfect Competition describes a market with many buyers and sellers, identical products, perfect information, and no barriers to entry. Firms are price-takers.
完全竞争描述一个存在众多买卖双方、产品同质、信息完全且无进入壁垒的市场。企业是价格接受者。
Monopoly exists when a single firm dominates the market and has significant control over price. Barriers to entry are high, and the monopolist is a price-maker.
垄断出现在单一企业主导市场并对价格有显著控制力的情况下。进入壁垒高，垄断者是价格制定者。
Oligopoly is a market dominated by a few large firms, often characterised by interdependent decision-making and non-price competition such as advertising.
寡头垄断是由少数大企业主导的市场，通常以相互依存的决策和广告等非价格竞争为特征。
Monopolistic Competition combines elements of competition and monopoly: many firms sell differentiated products, giving each some control over price.
垄断竞争结合了竞争与垄断的特征：许多企业销售差异化产品，使每个企业对价格有一定的控制力。
8. Money and Banking | 货币与银行
Money serves four main functions: a medium of exchange, a store of value, a unit of account, and a standard of deferred payment.
货币具有四大职能：交换媒介、价值储藏、计价单位和延期支付标准。
Commercial Banks accept deposits and provide loans to individuals and businesses. They make a profit by charging a higher interest rate on loans than they pay on deposits.
商业银行吸收存款并向个人和企业提供贷款。它们通过贷款利率高于存款利率来赚取利润。
Central Bank (e.g. Bank of England) manages a country's currency, money supply and interest rates. Its roles include issuing banknotes, controlling inflation and acting as a lender of last resort.
中央银行（如英格兰银行）管理一国的货币、货币供给和利率。其职能包括发行纸币、控制通胀和充当最后贷款人。
Interest Rate is the cost of borrowing or the reward for saving, usually expressed as a percentage per year. Lower interest rates encourage borrowing and spending; higher rates encourage saving.
利率是借款的成本或储蓄的回报，通常以年百分比表示。低利率鼓励借贷和消费；高利率鼓励储蓄。
9. International Trade | 国际贸易
Imports are goods and services bought from other countries; exports are those sold to other countries. The difference is the trade balance.
进口是从其他国家购买的商品和服务；出口是向其他国家销售的商品和服务。两者之差为贸易差额。
Exchange Rate is the price of one currency in terms of another. A stronger currency makes imports cheaper and exports more expensive, while a weaker currency does the opposite.
汇率是一种货币以另一种货币表示的价格。货币升值使进口更便宜、出口更昂贵，贬值则相反。
Tariffs are taxes on imported goods, used to protect domestic industries or raise government revenue. They increase the price of imports and reduce the quantity imported.
关税是对进口商品征收的税，用于保护国内产业或增加政府收入。它们提高进口价格并减少进口数量。
Quotas are physical limits on the quantity of a good that can be imported over a period of time.
配额是对一定时期内可进口商品数量的实物限制。
Free Trade is trade without restrictions. It allows countries to specialise according to comparative advantage and can increase overall economic welfare.
自由贸易是不设限制的贸易。它使各国能根据比较优势进行专业化，从而提高整体经济福利。
10. Economic Indicators and Objectives | 经济指标与目标
Gross Domestic Product (GDP) measures the total value of goods and services produced in a country over a period, usually a year. It is a key indicator of economic growth.
国内生产总值（GDP）衡量一国在一定时期内（通常为一年）生产的商品和服务的总价值。它是经济增长的关键指标。
Inflation is a sustained increase in the general price level. It erodes the purchasing power of money. Central banks often target an inflation rate of around 2%.
通货膨胀是总体价格水平的持续上涨，侵蚀货币的购买力。中央银行通常将通胀率目标设定在2%左右。
Unemployment is the situation where people who are willing and able to work cannot find a job. The unemployment rate is the percentage of the labour force that is unemployed.
失业是指有工作意愿和能力的人找不到工作的情况。失业率是失业人口占劳动力的百分比。
Economic Growth refers to an increase in the productive capacity of an economy, shown by a rising GDP. It can improve living standards but may cause environmental costs.
经济增长指经济体生产能力的提高，表现为GDP的增长。它可以提高生活水平，但可能带来环境代价。
Fiscal Policy involves government spending and taxation to influence the economy. Expansionary fiscal policy increases spending or cuts taxes to boost demand.
财政政策涉及政府支出和税收以影响经济。扩张性财政政策增加支出或减税以刺激需求。
Monetary Policy involves controlling the money supply and interest rates, usually by a central bank, to achieve price stability and support economic growth.
货币政策涉及控制货币供给和利率，通常由中央银行执行，以实现物价稳定和支持经济增长。
11. Personal Finance Basics | 个人理财基础
Budget is a plan for income and spending over a period. A surplus occurs when income exceeds spending; a deficit is when spending exceeds income.
预算是某个时期内的收入和支出计划。收入超过支出时产生盈余；支出超过收入时产生赤字。
Saving is putting money aside for future use, often in a bank account. It provides security and funds for large purchases.
储蓄是将钱留作将来使用，通常存入银行账户。它提供安全感并为大额消费积累资金。
Borrowing involves using someone else's money with a promise to repay later, usually with interest. Common forms include loans, overdrafts and credit cards.
借贷是使用他人的钱并承诺以后偿还，通常附带利息。常见形式包括贷款、透支和信用卡。
Income can be earned (wages, salaries, profits) or unearned (interest, dividends, benefits). Disposable income is what remains after direct taxes.
收入可分为劳动收入（工资、薪金、利润）和非劳动收入（利息、股息、福利）。可支配收入是扣除直接税后剩余的部分。
12. Key Government Roles | 政府的主要角色
Taxation is a compulsory payment to the government. Direct taxes (e.g. income tax) are paid by individuals and firms to the state directly; indirect taxes (e.g. VAT) are added to the price of goods and services.
税收是向政府强制缴纳的款项。直接税（如所得税）由个人和企业直接向国家缴纳；间接税（如增值税）附加在商品和服务价格上。
Government Spending covers areas such as education, healthcare, defence and welfare. It can be used to redistribute income and provide public services.
政府支出涵盖教育、医疗、国防和福利等领域。可用于重新分配收入和提供公共服务。
Public Sector is the part of the economy controlled by the government, delivering public goods and services. The private sector is made up of businesses owned by individuals and firms aiming to make a profit.
公共部门是经济中由政府控制的部分，提供公共物品和服务。私营部门由个人和企业拥有，以盈利为目的。
Regulation involves rules set by government to influence how markets operate, such as competition law, environmental standards and employment laws.
监管涉及政府为影响市场运作而制定的规则，如竞争法、环境标准和就业法。
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