📚 Year 10 OCR Economics: Vocabulary and Terminology Quick-Reference Guide | Year 10 OCR 经济：词汇术语速记指南
Welcome to your go-to memory guide for OCR GCSE Economics! The key to exam success is not just understanding concepts but also being able to recall precise definitions quickly. This article breaks down essential Year 10 terminology into bite-sized chunks, complete with mnemonics, abbreviations, and clever associations to lock them into your long-term memory.
欢迎使用你的 OCR GCSE 经济学速记指南！考试成功的关键不仅在于理解概念，还在于能够快速准确地回忆定义。本文将 Year 10 核心术语分解成易于消化的小块，并配以助记符、缩写和巧妙的联想，帮助你将其牢牢锁定在长期记忆中。
1. The Basic Economic Problem | 基本经济问题
Scarcity – undamental economic problem: society has unlimited wants but finite resources. Memory aid: 'SCARCE' = Society Cannot Acquire Resources for Complete Enjoyment.
稀缺性 – 基本经济问题：社会无限欲望与有限资源之间的矛盾。速记：“SCARCE” 代表社会无法获得资源以实现完全满足。
Needs vs. Wants – Needs are essential for survival (food, water, shelter), while wants are desirable but not necessary. Mnemonic: Needs are Necessary; Wants are just Wishes.
需求与欲望 – 需求是生存所必需的（食物、水、住所）；欲望是想要但非必需的。助记：需求（Needs）是 Necessary，欲望（Wants）是 Wishes。
Opportunity Cost – The value of the next best alternative forgone when a choice is made. Remember: 'OC' = Oh, Cost! or think of the One you Could have chosen.
机会成本 – 做出一项选择时所放弃的次优选项的价值。速记：OC = “哦，成本！” 或者想成你本可以选择的那个 One Choice。
Economic Goods – e no opportunity cost (e.g., air). Think: Economic = Effort needed; Free = Free from cost.
经济物品与免费物品 – 经济物品是稀缺且有机会成本的产品；免费物品很充足且零机会成本（如空气）。联想：经济物品需要努力（Effort），免费物品没有成本（Free）。
2. Factors of Production and Specialisation | 生产要素与专业化
Land – Natural resources used in production (e.g., soil, minerals, water). Reward: Rent. Memory: 'L' for Land gives Rent.
土地 – 生产中使用的自然资源（土壤、矿产、水等）。报酬：租金。记忆：L (Land) 带来 R (Rent)。
Labour – Human effort, both physical and mental. Reward: Wages. Remember: Labour earns Wages.
劳动 – 人类的体力和脑力投入。报酬：工资。记忆：劳动（Labour）赚取工资（Wages）。
Capital – Man-made goods used to produce other goods and services (e.g., machinery, tools). Reward: Interest. Mnemonic: Capital creates Interest.
资本 – 用于生产其他商品和服务的人造产品（机器、工具等）。报酬：利息。助记：资本（Capital）产生利息（Interest）。
Enterprise – The ability to combine the other factors of production, taking risks. Reward: Profit. Abbreviation: The four factors together spell CELL (Capital, Enterprise, Land, Labour).
企业精神 – 将其他生产要素结合并承担风险的能力。报酬：利润。缩写：四个要素合起来是 CELL（Capital, Enterprise, Land, Labour）。
Specialisation – d range of goods or services. Mnemonic: Specialisation = Sharpen Skills, Scale-up Success.
专业化 – 个人、企业或国家专注于生产有限范围的商品或服务。助记：专业化（Specialisation） = 专精技能（Sharpen Skills），规模化成功（Scale-up Success）。
3. Demand and Supply | 需求与供给
Demand – and able to buy at a given price. Key: willingness + ability. Think: D = Desire + Dollars.
需求 – 消费者在给定价格下愿意且能够购买的数量。要点：意愿+能力。联想：D = 欲望（Desire）+ 钱（Dollars）。
Law of Demand – As price falls, quantity demanded rises, ceteris paribus. Memory: Demand bends Downward.
需求定律 – 在其他条件不变下，价格下降，需求量上升。速记：需求曲线向下（Downward）。
Supply – are willing and able to sell at a given price. Mnemonic: Supply = Stuff Producers Provide.
供给 – 生产者在给定价格下愿意且能够出售的数量。助记：供给（Supply） = 生产者提供的东西（Stuff Producers Provide）。
Law of Supply – As price rises, quantity supplied rises, ceteris paribus. Remember: Supply Slopes Upwards.
供给定律 – 在其他条件不变下，价格上升，供给量上升。记忆：供给曲线向上（Upwards）倾斜。
Equilibrium Price – The price where quantity demanded equals quantity supplied. Shortcut: E = Equal Qd and Qs.
均衡价格 – 需求量等于供给量时的价格。捷径：E = 相等的 Qd 和 Qs。
4. 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. Formula: PED = %ΔQd ÷ %ΔP. If PED > 1, elastic; < 1, inelastic; = 1, unitary. Mnemonic: PED tells 'Percentage Effect on Demand'.
需求价格弹性 (PED) – 衡量需求量对价格变化的反应程度。公式：PED = %ΔQd ÷ %ΔP。若 PED > 1，富有弹性；< 1，缺乏弹性；= 1，单位弹性。助记：PED 指“需求上的百分比效应”。
Price Elasticity of Supply (PES) – Measures the responsiveness of quantity supplied to a change in price. Formula: PES = %ΔQs ÷ %ΔP. Abbreviation: 'S' for Supply's sensitivity.
供给价格弹性 (PES) – 衡量供给量对价格变化的反应程度。公式：PES = %ΔQs ÷ %ΔP。缩写：S 表示供给的敏感度（Supply's sensitivity）。
Determinants of PED – Necessity vs luxury, availability of substitutes, time period, proportion of income. Remember 'NSTP': Necessity, Substitutes, Time, Proportion.
PED 的决定因素 – 必需品 vs 奢侈品、替代品的可得性、时间长短、占收入的比例。记忆 “NSTP”：必需品（Necessity）、替代品（Substitutes）、时间（Time）、比例（Proportion）。
5. Market Failure | 市场失灵
Market Failure – rket fails to allocate resources efficiently, leading to a net social welfare loss. Think: 'Fail' = Free Allocation Is Lousy.
市场失灵 – 自由市场无法有效配置资源，导致社会净福利损失。联想：失败（Fail）= 自由配置很糟糕（Free Allocation Is Lousy）。
Externalities – (e.g., education) adds external benefit. Mnemonic: Externalities = Extra effects spilling over.
外部性 – 影响未参与交易的第三方的成本或收益。负外部性（如污染）增加外部成本；正外部性（如教育）带来外部收益。助记：外部性（Externalities）= 额外溢出效应（Extra effects）。
Public Goods – Non-rival and non-excludable (e.g., street lighting). Private sector underprovides them. Memory: Public goods are 'NRNE' – Non-R
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