📚 Quick Guide to Key Economics Vocabulary | 经济学关键词快速记忆指南
Economics can feel like learning a new language, full of terms that seem complicated at first. This guide breaks down the most important Year 9 Cambridge economics vocabulary into simple, memorable explanations. By linking each term to real-world examples and clear definitions, you will build confidence for class discussions, homework and exams.
经济学有时就像学一门新语言，充满了乍一看很复杂的术语。这份指南将九年级剑桥经济学最重要的词汇拆解成简单好记的解释。通过把每个术语与现实世界的例子和清晰的定义联系起来，你将建立起在课堂讨论、作业和考试中所需的信心。
1. Scarcity and Choice | 稀缺性与选择
Scarcity means that resources are limited while human wants are unlimited. Because we cannot have everything, we must make choices. Every choice involves giving something up, which leads to opportunity cost.
稀缺性意味着资源有限，而人类的欲望无限。因为我们无法拥有一切，所以必须做出选择。每一个选择都涉及放弃某些东西，这就引出机会成本的概念。
The concept of scarcity is the foundation of all economics. Without scarcity, there would be no need to study how people, businesses and governments allocate resources.
稀缺性概念是整个经济学的基础。如果没有稀缺性，就没有必要研究个人、企业和政府如何分配资源了。
- Example: A student has two hours after school. She can study economics or play football. Time is scarce, so she must choose.
- 示例：一名学生放学后有两小时。她可以学习经济学或者踢足球。时间是稀缺的，因此她必须做出选择。
2. Opportunity Cost | 机会成本
Opportunity cost is the value of the next best alternative that is given up when a choice is made. It is not just money – it can be time, enjoyment or any benefit lost.
机会成本是指做出一种选择时所放弃的次优替代选项的价值。它不仅仅是金钱，可以是时间、快乐或者任何失去的好处。
Whenever you decide to use a resource in one way, the opportunity cost is what you could have gained from using it in the best other way. This idea helps explain why individuals and governments weigh trade-offs carefully.
每当你决定以一种方式使用资源时，机会成本就是你在另一种最佳使用方式中本可获得的东西。这个想法有助于解释为什么个人和政府会仔细权衡取舍。
| Choice made | Opportunity cost |
| 选择花10英镑看电影 | 放弃用这10英镑买一本书或一顿饭 |
| 政府花费100万英镑修建公路 | 放弃把这笔钱用于新建一所医院 |
3. Needs and Wants | 需要与想要
Needs are basic requirements for survival, such as food, water, shelter and clothing. Wants are things that people desire but are not essential for survival, like smartphones, holidays or designer clothes.
需要是维持生存的基本要求，例如食物、水、住所和衣物。想要是人们渴望但并非生存必需的东西，比如智能手机、度假或名牌服装。
Understanding the difference helps economists analyse consumer behaviour. In an emergency, people focus on needs first. As incomes rise, spending on wants typically increases faster than spending on needs.
理解这种区别有助于经济学家分析消费者行为。在紧急情况下，人们首先关注需要。随着收入增加，想要方面的支出通常比需要方面的支出增长得更快。
- Need: clean water, basic healthcare
- 需要：清洁的水、基本的医疗保健
- Want: video streaming subscription, luxury car
- 想要：视频流订阅、豪华汽车
4. Goods and Services | 商品与服务
Goods are physical, tangible items that can be touched and stored, like books, apples or bicycles. Services are intangible activities performed for someone else, such as haircuts, bus journeys or education.
商品是物质性的、有形的物品，可以触摸和储存，比如书、苹果或自行车。服务是为他人提供的无形活动，比如理发、公交出行或教育。
In a modern economy, the service sector often grows faster than manufacturing. Both goods and services satisfy wants and needs, but they differ in how they are produced and consumed.
在现代经济中，服务业通常比制造业增长更快。商品和服务都能满足人们的想要和需要，但它们的生产和消费方式不同。
Key distinction: Goods are 'things you can drop on your foot'. Services are 'things done for you'.
关键区别：商品是“你可以砸到自己脚上的东西”。服务是“为你所做的事情”。
5. Factors of Production | 生产要素
The factors of production are the resources used to produce goods and services. They are usually grouped into four categories: land, labour, capital and enterprise.
生产要素是用来生产商品和服务的资源。它们通常分为四类：土地、劳动力、资本和企业家才能。
Land includes all natural resources (oil, forests, water). Labour is the human effort, both physical and mental. Capital means man-made tools, machinery and factories. Enterprise is the willingness to take risks and organise the other three factors.
土地包括所有自然资源（石油、森林、水）。劳动力是人类的努力，包括体力和脑力。资本指人造工具、机器和工厂。企业家才能是承担风险并组织其他三种要素的意愿。
| Factor | Reward | 中文 |
| Land | Rent | 租金 |
| Labour | Wages/Salaries | 工资 |
| Capital | Interest | 利息 |
| Enterprise | Profit | 利润 |
6. The Basic Economic Problem | 基本经济问题
The basic economic problem arises because resources are scarce but wants are infinite. Societies must answer three fundamental questions: What to produce? How to produce? For whom to produce?
基本经济问题源于资源稀缺而欲望无限。每个社会都必须回答三个根本问题：生产什么？如何生产？为谁生产？
Different economic systems answer these questions differently. In a market economy, consumer demand and profit motives guide decisions. In a planned economy, the government makes most of these choices.
不同的经济体系以不同的方式回答这些问题。在市场经济中，消费者需求和利润动机引导决策。在计划经济中，政府做出大多数选择。
Memory tip: Think of the basic economic problem as a pizza dilemma – you only have so much dough (resources), but everyone wants extra cheese (unlimited wants). You must decide how to slice it.
记忆技巧：把基本经济问题想象成一个比萨困境——你只有有限的面团（资源），但每个人都想要额外的芝士（无限的欲望）。你必须决定如何切分它。
7. 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 each price level. Supply is the quantity that producers are willing and able to offer for sale.
需求是指消费者在每个价格水平上愿意并且能够购买的商品或服务的数量。供给是指生产者愿意并且能够提供的销售数量。
When price rises, quantity demanded usually falls (law of demand). When price rises, quantity supplied usually rises (law of supply). The equilibrium price is where supply and demand meet.
当价格上涨时，需求量通常会下降（需求定律）。当价格上涨时，供给量通常会上升（供给定律）。均衡价格是供给与需求相遇的地方。
- If demand > supply → shortage, price tends to rise.
- 如果需求大于供给 → 短缺，价格趋于上涨。
- If supply > demand → surplus, price tends to fall.
- 如果供给大于需求 → 过剩，价格趋于下跌。
8. Price Elasticity | 价格弹性
Price elasticity of demand measures how sensitive the quantity demanded is to a change in price. If a small price change causes a large change in quantity demanded, demand is elastic.
需求价格弹性衡量需求量对价格变化的敏感程度。如果价格的小幅变化导致需求量大幅变化，那么需求就是富有弹性的。
Products with many substitutes (like different brands of cereal) tend to have elastic demand. Necessities with few close substitutes (like insulin for diabetics) tend to have inelastic demand.
许多替代品的产品（如不同品牌的麦片）往往需求富有弹性。几乎没有相近替代品的必需品（如糖尿病患者的胰岛素）往往需求缺乏弹性。
Own Price Elasticity = % Change in Quantity Demanded ÷ % Change in Price
需求价格弹性 = 需求量变动百分比 ÷ 价格变动百分比
9. Inflation | 通货膨胀
Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. It means the purchasing power of money falls – each unit of currency buys fewer items.
通货膨胀是指一个经济体在一段时期内商品和服务总体价格水平的持续上升。它意味着货币的购买力下降——每单位货币购买的物品变少了。
A low and stable rate of inflation (often around 2%) is common in many countries and is considered healthy. Very high inflation, or hyperinflation, can destroy savings and harm economic stability.
低而稳定的通货膨胀率（通常约2%）在许多国家很常见，且被认为是健康的。非常高的通货膨胀，即恶性通货膨胀，会摧毁储蓄并损害经济稳定。
Easy recall: Imagine your favourite chocolate bar costs £1 today. With 10% inflation, it might cost £1.10 next year. You get less chocolate for your pocket money.
简单记忆：想象你最喜欢的巧克力棒今天售价1英镑。在10%的通货膨胀下，明年可能就要1.10英镑。你的零花钱能买到的巧克力变少了。
10. Unemployment | 失业
Unemployment refers to people who are willing and able to work, actively seeking work, but cannot find a job. The unemployment rate is the percentage of the labour force that is unemployed.
失业是指那些愿意并且能够工作、正在积极寻找工作但找不到工作的人。失业率是劳动力中失业人口所占的百分比。
Types of unemployment include cyclical (due to economic downturns), structural (mismatch of skills) and frictional (people between jobs). Governments try to reduce unemployment through various policies.
失业的类型包括周期性失业（由于经济衰退）、结构性失业（技能不匹配）和摩擦性失业（人们在换工作期间）。政府试图通过各种政策来减少失业。
- Cost of unemployment: lower income for families, reduced tax revenue, social problems.
- 失业的代价：家庭收入减少、税收减少、社会问题。
11. Gross Domestic Product (GDP) | 国内生产总值
GDP is the total monetary value of all finished goods and services produced within a country's borders in a specific time period, usually a year. It measures the size and health of an economy.
GDP是一个国家境内在一定时期内（通常为一年）生产的所有最终商品和服务的货币总值。它衡量经济的规模和健康状况。
When GDP is growing, the economy is generally doing well, creating more jobs and income. When GDP falls for two consecutive quarters, it is often called a recession.
当GDP增长时，经济通常运行良好，创造更多就业和收入。当GDP连续两个季度下降时，通常被称为衰退。
Real GDP adjusts for inflation, so it is a better indicator than nominal GDP for comparing living standards over time.
实际GDP剔除了通货膨胀的影响，因此在比较不同时期的生活水平时，比名义GDP更好的指标。
12. Taxation and Government Spending | 税收与政府支出
Taxation is the money collected by governments from individuals and businesses. Direct taxes (like income tax) are paid straight to the government. Indirect taxes (like VAT) are added to the price of goods.
税收是政府从个人和企业那里收取的钱。直接税（如所得税）直接付给政府。间接税（如增值税）则附加在商品价格上。
Government spending covers public services such as education, healthcare, defence and infrastructure. It is funded mainly by tax revenue and borrowing.
政府支出涵盖公共服务，如教育、医疗保健、国防和基础设施。它主要由税收和借款提供资金。
Memory phrase: 'Taxing to spend' – governments collect taxes so they can spend on things that benefit the whole society, like roads and schools.
记忆短语：“取之于民，用之于民”——政府征税以便把钱花在造福全社会的事物上，比如道路和学校。
Published by TutorHao | Economics Revision Series | aleveler.com
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