📚 Year 10 Edexcel Economics: Key Terms Memorisation Guide | Edexcel 十年级经济学关键术语速记指南
Mastering economics vocabulary is the first step to scoring high in your Edexcel Year 10 exams. This guide breaks down essential terms into clear, bite-sized definitions and pairs them with Chinese explanations, helping you memorise efficiently and understand deeply. Every section follows the Edexcel GCSE Economics (9-1) specification, so you can revise the exact wording examiners expect to see in your answers.
掌握经济学词汇是 Edexcel 十年级考试取得高分的第一步。本指南将核心术语分解为清晰、简明的定义，并配以中文解释，帮助你高效记忆、深刻理解。每个小节都对应 Edexcel GCSE 经济学（9-1）考纲，让你复习到考官真正想在答卷中看到的表述。
Use this guide as a vocabulary checklist: read the English definition aloud, cover it, then say the Chinese meaning back. Repeat for three days and these terms will stay in your long-term memory.
把本指南当作词汇清单使用：先大声朗读英文定义，遮住它，再回忆中文含义。坚持三天，这些术语就会进入你的长期记忆。
1. The Basic Economic Problem | 基本经济问题
The basic economic problem arises from scarcity – the fact that human wants are unlimited while the resources available to produce goods and services are limited.
基本经济问题源于稀缺性——即人类的欲望是无限的，而用于生产商品和服务的资源却是有限的。
Because of scarcity, societies must answer three key questions: What goods and services should be produced? How should they be produced? For whom should they be produced?
由于稀缺性，社会必须回答三个关键问题：应该生产哪些商品和服务？如何生产它们？为谁生产它们？
Needs are items essential for survival, such as food, water, and shelter, whereas wants are luxuries that improve quality of life but are not necessary for survival.
需要（Needs）是生存所必需的物品，如食物、水和住所，而欲望（Wants）是提高生活质量的奢侈品，但不是生存所必需的。
- Scarcity 稀缺性 – limited resources against unlimited wants.
- Opportunity cost 机会成本 – the next best alternative given up.
- Economic agents 经济主体 – households, firms and government.
2. Factors of Production | 生产要素
Economists classify the resources used to produce goods and services into four factors of production: Land, Labour, Capital, and Enterprise (remember CELL).
经济学家将用于生产商品和服务的资源分为四种生产要素：土地、劳动、资本和企业能力（记住 CELL）。
Land includes all natural resources (minerals, water, forests). Labour is the human effort, both physical and mental. Capital refers to man-made goods used to produce other goods, such as machinery and factories. Enterprise is the ability to combine the other factors and take risks to start a business.
土地包括所有自然资源（矿产、水、森林）。劳动是人类的体力与脑力付出。资本是指用于生产其他商品的人造物品，如机器和工厂。企业能力是指组合其他要素并承担风险以创办企业的能力。
Each factor receives a reward: Land earns rent, Labour earns wages, Capital earns interest, and Enterprise earns profit.
每种要素都获得报酬：土地获得地租，劳动获得工资，资本获得利息，企业能力获得利润。
| Factor 要素 | Reward 报酬 | Example 例子 |
| Land 土地 | Rent 地租 | Farmland 农田 |
| Labour 劳动 | Wages 工资 | Factory worker 工厂工人 |
| Capital 资本 | Interest 利息 | Machinery 机器 |
| Enterprise 企业能力 | Profit 利润 | Entrepreneur 企业家 |
3. Opportunity Cost and the Production Possibility Curve | 机会成本与生产可能性曲线
Opportunity cost is the value of the next best alternative forgone when a choice is made. Every decision made by a consumer, firm or government carries an opportunity cost, because resources used for one purpose cannot be used for another.
机会成本是指做出选择时所放弃的次优选择的价值。消费者、企业或政府的每一个决策都带有机会成本，因为用于某一用途的资源无法同时用于另一用途。
The production possibility curve (PPC) shows the maximum combination of two goods that an economy can produce with its existing resources and technology. Points on the curve are productively efficient; points inside the curve mean resources are unemployed; points outside are currently unattainable.
生产可能性曲线（PPC）表示一个经济体在现有资源和技术下能够生产的两种商品的最大组合。曲线上的点代表生产有效率；曲线内的点意味着资源未被充分利用；曲线外的点目前无法实现。
A movement along the PPC illustrates opportunity cost, while an outward shift of the whole curve represents economic growth caused by more or better resources.
沿曲线移动体现机会成本，而整条曲线的向外移动则代表由资源数量增加或质量提升带来的经济增长。
4. Demand, Supply and Market Equilibrium | 需求、供给与市场均衡
Demand is the quantity of a good consumers are willing and able to buy at a given price over a period of time. The law of demand states that, other things being equal, as price falls, quantity demanded rises – this gives a downward-sloping demand curve.
需求是指在一定时期内，消费者在某一价格下愿意且能够购买的商品数量。需求定律指出，在其他条件不变的情况下，价格下降则需求量上升——这形成一条向右下方倾斜的需求曲线。
Supply is the quantity producers are willing and able to sell at a given price. The law of supply states that as price rises, quantity supplied rises, producing an upward-sloping supply curve.
供给是指生产者在某一价格下愿意且能够出售的数量。供给定律指出，价格上升则供给量上升，从而形成一条向右上方倾斜的供给曲线。
Market equilibrium occurs where demand equals supply. At this price there is no shortage and no surplus. A price above equilibrium creates a surplus; a price below equilibrium creates a shortage.
市场均衡出现在需求等于供给之处。在该价格下既无短缺也无过剩。高于均衡价格会产生过剩；低于均衡价格会产生短缺。
Extension vs increase: a price change causes an extension or contraction along the curve; a change in a non-price factor (income, tastes, population) causes a shift of the whole curve.
扩张与增长的区别：价格变化引起沿曲线的扩张或收缩；非价格因素（收入、偏好、人口）的变化则引起整条曲线的移动。
5. Price Elasticity of Demand and Supply | 需求与供给的价格弹性
Price elasticity of demand (PED) measures the responsiveness of quantity demanded to a change in price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price.
需求价格弹性（PED）衡量需求量对价格变化的反应程度，其计算方式为需求量变化的百分比除以价格变化的百分比。
PED = %Δ Quantity Demanded ÷ %Δ Price
If PED > 1, demand is elastic – D = 1, demand is unit elastic. The same logic applies to price elasticity of supply (PES).
如果 PED > 1，需求富有弹性——数量变化的比例大于价格。如果 PED < 1，需求缺乏弹性。如果 PED = 1，则为单位弹性。供给价格弹性（PES）的逻辑完全相同。
- Elastic demand 富有弹性的需求 – many substitutes, luxury goods, long time period.
- Inelastic demand 缺乏弹性的需求 – few substitutes, necessities, addictive goods, short time period.
- Business use 商业应用 – firms raise price only when demand is inelastic, because total revenue rises.
6. Market Failure and Externalities | 市场失灵与外部性
Market failure occurs when the free market allocates resources inefficiently, so the quantity produced or consumed is not socially optimal. The main causes are externalities, public goods, information failure and market power.
市场失灵是指自由市场无法有效配置资源，导致生产或消费的数量并非社会最优。主要成因包括外部性、公共物品、信息失灵和市场势力。
An externality is a third-party effect of production or consumption not reflected in the market price. A negative externality (pollution) creates a social cost greater than the private cost, causing over-production. A positive externality (education, vaccination) creates a social benefit greater than the private benefit, causing under-consumption.
外部性是指生产或消费对第三方产生的、未反映在市场价中的影响。负外部性（污染）使社会成本大于私人成本，导致生产过度。正外部性（教育、疫苗接种）使社会收益大于私人收益，导致消费不足。
Public goods are non-excludable and non-rival, so firms cannot charge for them and the free market under-provides them – for example street lighting and national defence.
公共物品具有非排他性和非竞争性，企业无法对其收费，因此自由市场供给不足——例如路灯和国防。
Governments correct market failure using taxation, subsidies, regulation, tradable permits and direct provision.
政府通过税收、补贴、管制、可交易许可证和直接供给来纠正市场失灵。
7. Market Structures: Competition and Monopoly | 市场结构：竞争与垄断
The term market structure describes how many firms operate in a market, how much market power they hold, and how easy it is for new firms to enter. The two extreme models are perfect competition and monopoly.
市场结构描述的是一个市场中企业的数量、它们掌握的市場勢力，以及新企业进入的难易程度。两个极端模型是完全竞争与垄断。
In perfect competition there are many small firms selling identical products, with no price-setting power and no barriers to entry. In a pure monopoly, one firm supplies the whole market, has significant price-setting power and high barriers to entry.
在完全竞争中，有许多小企业销售同质产品，没有定价权，也没有进入壁垒。在纯粹垄断中，一家企业供应整个市场，拥有显著的定价权和高进入壁垒。
Most real markets lie between these extremes and are described as monopolistic competition (many firms, differentiated products) or oligopoly (a few large firms, interdependent decisions).
大多数现实市场位于这两个极端之间，被称为垄断竞争（众多企业、产品差异化）或寡头（少数大企业、决策相互依赖）。
Concentration ratios measure how much of total market output is controlled by the largest firms and are a common exam data-response question.
集中度比率衡量最大的几家企业控制了多少市场总产量，是考试中常见的数据分析题。
8. The Labour Market | 劳动力市场
The demand for labour is a derived demand: firms hire workers only because there is demand for the goods and services those workers produce. If product demand falls, labour demand falls too.
劳动力需求是一种派生需求：企业雇用工人，仅仅是因为市场对这些工人所生产的商品与服务存在需求。如果产品需求下降，劳动力需求也随之下降。
The supply of labour depends on the wage rate, the size and skills of the working population, and non-monetary factors such as job satisfaction and working hours.
劳动力供给取决于工资率、劳动人口的数量与技能，以及工作满意度、工作时间等非货币因素。
Human capital refers to the skills, knowledge and experience of workers, improved through education and training. Higher human capital raises productivity and therefore equilibrium wages.
人力资本指工人的技能、知识和经验，通过教育与培训得以提升。更高的人力资本提高生产率，从而提高均衡工资。
A national minimum wage sets a legal pay floor. If it is set above the equilibrium wage, it may cause employers to demand fewer workers, creating a risk of unemployment.
全国最低工资设定了一个法定工资下限。若其高于均衡工资，可能导致雇主减少用工需求，从而产生失业风险。
9. Macroeconomic Objectives | 宏观经济目标
Governments pursue five main macroeconomic objectives: economic growth, low unemployment, low and stable inflation, a balanced balance of payments, and a fair distribution of income.
政府追求五大宏观经济目标：经济增长、低失业率、低而稳定的通胀、国际收支平衡，以及收入分配的公平。
Gross Domestic Product (GDP) is the total value of goods and services produced in a country in a year. Real GDP adjusts for inflation, while GDP per capita divides total output by population to indicate average living standards.
国内生产总值（GDP）是一国一年内生产的所有商品与服务的总价值。实际 GDP 剔除了通胀影响，而人均 GDP 将总产出除以人口，用以反映平均生活水平。
Inflation is a sustained rise in the general price level, measured by the Consumer Prices Index (CPI). Deflation is a fall in the price level. Unemployment measures the proportion of the labour force who are able and willing to work but cannot find a job.
通胀是一般物价水平的持续上涨，以消费者价格指数（CPI）衡量。通缩是物价水平的下跌。失业衡量的是劳动力中能够且愿意工作但找不到工作的人口比例。
The balance of payments records a country's transactions with the rest of the world, including the current account (trade in goods and services) and the financial account.
国际收支记录一国与世界其他地区的交易，包括经常账户（商品与服务贸易）和金融账户。
10. Government Macroeconomic Policy | 政府宏观经济政策
Fiscal policy uses government spending and taxation to influence aggregate demand. Expansionary fiscal policy cuts taxes or raises spending to boost growth; contractionary fiscal policy does the opposite to reduce inflation.
财政政策运用政府支出与税收来影响总需求。扩张性财政政策减税或增支以刺激增长；紧缩性财政政策则反向操作以抑制通胀。
Monetary policy is controlled by the central bank and uses interest rates, money supply and quantitative easing. Raising interest rates reduces borrowing and spending, which lowers aggregate demand and inflation.
货币政策由中央银行掌控，运用利率、货币供应量和量化宽松。提高利率会减少借贷与支出，从而降低总需求和通胀。
Supply-side policies aim to increase the productive capacity of the economy, for example through education, infrastructure, deregulation and lower business taxes. They shift the long-run aggregate supply curve to the right.
供给侧政策旨在提升经济的生产能力，例如通过教育、基础设施、减少管制和降低企业税。它们使长期总供给曲线向右移动。
Trade-off: governments often face a short-run conflict between reducing unemployment and controlling inflation, known as the Phillips curve trade-off.
权衡取舍：政府常常在短期内面临降低失业与控制通胀之间的冲突，即所谓的菲利普斯曲线权衡。
11. International Trade and Globalisation | 国际贸易与全球化
International trade allows countries to specialise in producing goods where they have a comparative advantage – the ability to produce a good at a lower opportunity cost than another country.
国际贸易使各国能够专业化生产其具有比较优势的商品——即以低于他国的机会成本生产某商品的能力。
Globalisation is the growing integration of world economies through trade, investment, technology and migration. Benefits include lower prices, wider consumer choice and faster technology transfer; drawbacks include job losses in vulnerable industries and greater exposure to external shocks.
全球化是世界经济通过贸易、投资、技术和移民而日益融合的过程。其好处包括价格更低、消费者选择更多、技术转移更快；弊端包括脆弱产业裁员以及更容易受到外部冲击。
Protectionist measures include tariffs (taxes on imports), quotas (physical limits on imports), subsidies to domestic producers, and non-tariff barriers such as strict product standards.
保护主义措施包括关税（对进口征税）、配额（对进口数量的限制）、对本国生产者的补贴，以及严格产品标准等非关税壁垒。
An exchange rate is the price of one currency in terms of another. A depreciation makes exports cheaper and imports dearer, which tends to improve the current account balance.
汇率是一种货币以另一种货币表示的价格。货币贬值使出口更便宜、进口更昂贵，通常有助于改善经常账户余额。
12. Exam Technique and Memory Tricks | 考试技巧与记忆方法
Edexcel command words matter as much as definitions. 'Define' needs one precise sentence; 'Explain' needs a point plus a cause-and-effect chain; 'Evaluate' needs both sides plus a justified conclusion.
Edexcel 的指令词与定义同样重要。"Define"（定义）只需一句精确表述；"Explain"（解释）需要要点加上因果链条；"Evaluate"（评估）需要正反两面并给出有理有据的结论。
- Chunking 分块记忆 – group terms into themes of five rather than thirty at once.
- Dual coding 双重编码 – draw a small diagram beside each definition.
- Retrieval practice 提取练习 – self-test with flashcards instead of re-reading notes.
- Spaced repetition 间隔重复 – review on day 1, day 3, day 7, day 14.
Common exam traps: confusing 'shift' with 'movement', writing 'demand falls' when you mean 'quantity demanded falls', and forgetting to link every point back to the question's context such as a named market or country.
常见考试陷阱：混淆"曲线移动"与"沿曲线移动"；想表达"需求量下降"却写成"需求下降"；以及忘记把每个要点联系回题目情境，例如指定的市场或国家。
Finally, build a personal glossary of 80 to 100 terms from past papers. If you can define, illustrate and apply each one, you will comfortably reach the top mark band in Paper 1 and Paper 2.
最后，用历年真题整理一份 80 到 100 个术语的个人词汇表。如果你能对每一个都做到"定义、图示、应用"，你就能轻松进入卷一和卷二的最高分档。
Published by TutorHao | Year 10 Economics Revision Series | aleveler.com
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