📚 Year 10 SQA Economics: Vocabulary & Terminology Quick-Memorisation Guide | 10年级 SQA 经济：词汇术语速记指南
Welcome to your essential revision toolkit for Year 10 SQA Economics. Mastering economic terminology is the first step towards confident exam performance and a deeper understanding of how the world works. This guide breaks down key terms into logical sections, pairing each English definition with its Chinese equivalent to reinforce bilingual comprehension. Use the tips and memory hooks throughout to accelerate your learning.
欢迎使用你的 10 年级 SQA 经济必备复习工具包。掌握经济术语是迈向自信考试表现和更深刻理解世界运作方式的第一步。本指南将关键术语按逻辑章节分解，每个英文定义都配有中文对应解释，以强化双语理解。请善用文中的记忆技巧和学习钩子，加速你的学习进程。
1. The Basic Economic Problem | 基本经济问题
The fundamental economic problem arises because resources are limited, but human wants are unlimited. This creates scarcity, forcing individuals, firms and governments to make choices about what to produce, how to produce and for whom to produce.
基本经济问题源于资源有限而人类欲望无穷。这就产生了稀缺性，迫使个人、企业和政府在生产什么、如何生产以及为谁生产上做出选择。
Scarcity refers to the shortage of resources relative to unlimited wants. It is a permanent condition, not just a temporary shortage.
稀缺性是指相对于无限欲望的资源短缺。它是一种永久状态，而不仅仅是暂时的短缺。
Opportunity cost is the value of the next best alternative foregone when a choice is made. If a government spends more on healthcare, the opportunity cost might be fewer roads built.
机会成本是指做出选择时所放弃的次优替代方案的价值。如果政府在医疗保健上支出更多，机会成本可能就是修建的道路减少。
The three basic economic questions are: What to produce? How to produce? For whom to produce? Every economic system must answer them.
三个基本经济问题是：生产什么？如何生产？为谁生产？每个经济体系都必须回答它们。
Factors of production are the resources used to produce goods and services: land (natural resources), labour (human effort), capital (man-made tools and machinery) and enterprise (the risk-taking ability of entrepreneurs).
生产要素是用于生产商品和服务的资源：土地（自然资源）、劳动（人力努力）、资本（人造工具和机器）以及企业家才能（承担风险的能力）。
2. Demand and Supply | 需求与供给
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. Effective demand requires both desire and purchasing power.
需求是消费者在一段时间内愿意并且能够以不同价格购买的商品或服务的数量。有效需求既需要购买欲望，也需要购买力。
The law of demand states that, ceteris paribus, as the price of a good rises, the quantity demanded falls, and vice versa. This inverse relationship creates a downward-sloping demand curve.
需求定律表明，在其他条件不变的情况下，当商品价格上涨时，需求量下降，反之亦然。这种反向关系形成了向下倾斜的需求曲线。
Supply is the quantity of a good or service that producers are willing and able to offer for sale at various prices over a period of time. The law of supply states that as price rises, quantity supplied rises, leading to an upward-sloping supply curve.
供给是生产者在一段时间内愿意并且能够以不同价格出售的商品或服务的数量。供给定律表明，价格上涨时，供给量增加，形成向上倾斜的供给曲线。
Market equilibrium occurs where demand equals supply, resulting in an equilibrium price (market clearing price) and equilibrium quantity. Any price above equilibrium creates a surplus; any price below creates a shortage.
市场均衡发生在需求等于供给时，产生均衡价格（市场出清价格）和均衡数量。任何高于均衡的价格会导致过剩，低于均衡的价格会导致短缺。
Changes in non-price determinants shift the demand curve: income, tastes, prices of substitutes/complements, population, advertising. A rightward shift is an increase in demand; a leftward shift is a decrease.
非价格决定因素的变化会使需求曲线移动：收入、偏好、替代品/互补品价格、人口、广告。右移表示需求增加，左移表示需求减少。
Supply shifters include production costs, technology, taxes, subsidies, number of sellers and weather. A decrease in costs shifts supply to the right, increasing quantity supplied at each price.
供给移动的因素包括生产成本、技术、税收、补贴、卖方数量和天气。成本降低使供给曲线右移，在每个价格下的供给量增加。
3. Elasticity | 弹性
demand (PED) measures the responsiveness of quantity demanded to a change in price. PED = % change in quantity demanded ÷ % change in price. It is always negative, but we often ignore the sign.
需求的价格弹性（PED）衡量需求量对价格变化的反应程度。PED = 需求量变动百分比 ÷ 价格变动百分比。它总是负值，但通常忽略符号。
If PED > 1, demand is elastic: a price change causes a proportionately larger change in quantity demanded. Luxury goods often have elastic demand.
若 PED > 1，需求富有弹性：价格变化引起需求量更大比例的变化。奢侈品通常需求弹性较大。
If PED < 1, demand is inelastic: quantity demanded changes proportionately less than price. Necessities like basic food or fuel tend to be inelastic.
若 PED < 1，需求缺乏弹性：需求量变化比例小于价格变化比例。必需品如基本食品或燃料往往缺乏弹性。
Price elasticity of supply (PES) measures how responsive quantity supplied is to a price change. Factors affecting PES include production time, availability of spare capacity and stock levels.
供给的价格弹性（PES）衡量供给量对价格变化的反应程度。影响 PES 的因素包括生产时间、闲置产能的可用性和库存水平。
Income elasticity of demand (YED) measures the responsiveness of demand to a change in consumer income. Normal goods have positive YED; inferior goods have negative YED.
需求的收入弹性（YED）衡量需求对消费者收入变化的反应。正常品的 YED 为正，低档品的 YED 为负。
Cross elasticity of demand (XED) measures the responsiveness of demand for one good to a change in the price of another. Positive XED indicates substitutes; negative XED indicates complements.
需求的交叉弹性（XED）衡量一种商品的需求对另一种商品价格变化的反应。XED 为正表示替代品，为负表示互补品。
4. Market Structures | 市场结构
Perfect competition is a market structure with many buyers and sellers, homogeneous products, free entry and exit, and perfect information. Firms are price takers.
完全竞争是一种市场结构，存在众多买者和卖者、同质产品、自由进入和退出以及完全信息。企业是价格接受者。
Monopoly exists when a single firm dominates the market with significant barriers to entry. Monopolists are price makers and can earn abnormal profits in the long run.
垄断是指单一企业主导市场并存在重大进入壁垒。垄断者是价格制定者，可以在长期获得超额利润。
Oligopoly features a few large firms, high barriers to entry and interdependent decision-making. Firms may engage in collusion or non-price competition.
寡头垄断的特征是少数大企业、高进入壁垒和相互依存的决策。企业可能进行合谋或非价格竞争。
Monopolistic competition combines many sellers with differentiated products and few barriers to entry. Firms compete through branding, quality and slight price differences.
垄断竞争结合了许多卖者、差异化产品和低进入壁垒。企业通过品牌、质量和微小的价格差异进行竞争。
Concentration ratio measures the market share of the largest firms. A high concentration ratio, such as a 5-firm ratio above 60%, indicates a less competitive market.
集中度比率衡量最大企业的市场份额。较高的集中度比率，例如五企业集中度高于 60%，表明市场竞争较弱。
5. Market Failure and Externalities | 市场失灵与外部性
Market failure occurs when the free market fails to allocate resources efficiently, leading to a net social welfare loss. Causes include externalities, public goods, information failure and monopoly power.
市场失灵发生在自由市场未能有效配置资源，导致社会净福利损失时。成因包括外部性、公共物品、信息失灵和垄断势力。
An externality is a cost or benefit that affects a third party who did not choose to incur it. Negative externalities, like pollution, impose external costs; positive externalities, like education, generate external benefits.
外部性是一种影响未选择承担它的第三方的成本或收益。负外部性如污染，带来外部成本；正外部性如教育，产生外部收益。
cost. When social cost exceeds private cost, overproduction occurs. Government can impose a tax equal to the external cost to internalise the externality.
私人成本 + 外部成本 = 社会成本。当社会成本超过私人成本时，会出现过度生产。政府可以对等于外部成本的征税，使外部性内部化。
Public goods are non-excludable and non-rival. Non-excludability means you cannot stop someone from using the good; non-rivalry means one person's consumption does not reduce availability for others. Examples include street lighting and national defence.
公共物品具有非排他性和非竞争性。非排他性意味着无法阻止他人使用该物品；非竞争性意味着一个人的消费不会减少别人的可用量。例子包括路灯和国防。
Free-rider problem arises when individuals can benefit from a good without paying for it, leading to under-provision by the private sector. This justifies government provision of public goods.
搭便车问题是指个人无需付费即可从物品中受益，导致私营部门提供不足。这为政府提供公共物品提供了理由。
6. Government Intervention | 政府干预
Governments intervene in markets to correct market failure, redistribute income, maintain economic stability and promote growth. Key tools include taxation, subsidies, regulation and direct provision.
政府干预市场以纠正市场失灵、再分配收入、维持经济稳定和促进增长。关键工具包括税收、补贴、监管和直接提供。
Indirect taxes (e.g., VAT, excise duties) are levied on goods and services. A specific tax is a fixed amount per unit sold; an ad valorem tax is a percentage of the price.
间接税（如增值税、消费税）是对商品和服务征收的。从量税是对每单位销售征收固定金额；从价税是按价格百分比征收。
Subsidies are grants from the government to firms, lowering production costs and increasing supply. They can encourage positive externalities, such as renewable energy use.
补贴是政府给企业的拨款，降低生产成本并增加供给。它们可以鼓励正外部性，例如可再生能源的使用。
Price controls include maximum prices (ceilings) set below equilibrium to protect consumers, and minimum prices (floors) set above equilibrium to support producers. Both can cause market disequilibrium like shortages or surpluses.
价格控制包括低于均衡价格设置的最高价格（价格上限），以保护消费者；以及高于均衡价格设置的最低价格（价格下限），以支持生产者。两者都可能造成市场失衡，如短缺或过剩。
Regulation and legislation cover laws on pollution limits, competition policy to prevent monopolies, and consumer protection. Command-and-control approaches set legally enforceable standards.
监管和立法涵盖有关污染限制的法律、防止垄断的竞争政策及消费者保护。命令与控制方法设定了可依法执行的标准。
7. Macroeconomic Indicators | 宏观经济指标
Gross Domestic Product (GDP) measures the total value of goods and services produced within a country over a specific time period. Real GDP is adjusted for inflation, showing actual growth in output.
国内生产总值 (GDP) 衡量一国在一定时期内生产的商品和服务的总价值。实际 GDP 经过通胀调整，显示产出的实际增长。
Economic growth is the increase in a country's productive capacity, typically measured by the annual percentage change in real GDP. Sustained growth raises living standards.
经济增长是一国生产能力的提高，通常以实际 GDP 的年度百分比变化来衡量。持续增长提高生活水平。
Inflation is a sustained rise in the general price level. The Consumer Price Index (CPI) tracks the cost of a basket of goods. Demand-pull inflation occurs when aggregate demand exceeds supply; cost-push inflation comes from rising production costs.
通货膨胀是一般价格水平的持续上涨。消费者价格指数 (CPI) 追踪一篮子商品的成本。需求拉动型通胀发生在总需求超过供给时；成本推动型通胀源自生产成本上升。
Unemployment rate is the percentage of the labour force actively seeking work but unable to find it. Types include cyclical (due to low demand), structural (mismatch of skills) and frictional (between jobs).
失业率是劳动力中积极寻找工作但未能找到的百分比。类型包括周期性（需求不足）、结构性（技能不匹配）和摩擦性（换工作期间）。
Balance of payments records all financial transactions between one country and the rest of the world. The current account includes trade in goods, services, income flows and transfers. A deficit means imports exceed exports.
国际收支平衡表记录一国与世界其他地区之间的所有金融交易。经常账户包括货物贸易、服务贸易、收入流和转移支付。赤字表示进口超过出口。
8. Fiscal and Monetary Policy | 财政与货币政策
Fiscal policy involves the use of government spending and taxation to influence the economy. Expansionary fiscal policy (increasing spending or cutting taxes) aims to boost aggregate demand during a recession.
财政政策涉及使用政府支出和税收来影响经济。扩张性财政政策（增加支出或减税）旨在经济衰退期间提振总需求。
Contractionary fiscal policy reduces government spending or raises taxes to cool an overheating economy and control inflation. The government's budget balance is tax revenue minus spending.
紧缩性财政政策减少政府支出或增加税收，为过热经济降温并控制通胀。政府的预算平衡是税收收入减去支出。
Monetary policy is managed by the central bank (e.g., Bank of England) to control money supply and interest rates. The main target is usually price stability, defined by an inflation target of 2%.
货币政策由中央银行（如英格兰银行）管理，以控制货币供应和利率。主要目标通常是物价稳定，通过设定 2% 的通胀目标来定义。
Interest rates influence borrowing and saving. A lower base rate makes borrowing cheaper, stimulating consumption and investment; a higher rate encourages saving and reduces spending, dampening inflation.
利率影响借贷和储蓄。较低的基准利率使借贷更便宜，刺激消费和投资；较高的利率鼓励储蓄并减少支出，抑制通胀。
Quantitative easing (QE) is an unconventional monetary policy where the central bank purchases government bonds to inject money directly into the financial system, aiming to lower long-term interest rates.
量化宽松 (QE) 是一种非常规货币政策，中央银行购买政府债券，直接向金融体系注入资金，旨在降低长期利率。
9. International Trade | 国际贸易
Free trade is the exchange of goods and services between countries without barriers. The principle of comparative advantage states that countries should specialise in goods they can produce at a lower opportunity cost and trade for others.
自由贸易是国家间商品和服务无障碍交换。比较优势原理指出，各国应专门生产机会成本较低的商品，并用其交换其他商品。
Protectionism involves measures that shield domestic industries from foreign competition. Common tools include tariffs (taxes on imports), quotas (quantity limits) and subsidies to local producers.
贸易保护主义涉及保护国内产业免受外国竞争的措施。常见工具包括关税（对进口征税）、配额（数量限制）和对本地生产者的补贴。
A tariff increases the price of imported goods, making domestic products relatively cheaper. While it protects local jobs, it raises consumer prices and reduces consumer surplus.
关税提高进口商品价格，使国内产品相对便宜。虽然保护了本地就业，但提高了消费者价格，减少了消费者剩余。
The World Trade Organization (WTO) promotes trade liberalisation by negotiating reductions in trade barriers and settling disputes. Trading blocs like the EU or USMCA reduce barriers among members.
世界贸易组织 (WTO) 通过谈判削减贸易壁垒和解决争端来促进贸易自由化。欧盟或美墨加协定等贸易集团降低了成员之间的壁垒。
Globalisation is the increasing integration of economies through trade, capital flows, migration and technology transfer. It brings benefits such as wider choice and lower costs, but also challenges like job displacement.
全球化是通过贸易、资本流动、移民和技术转让日益增强的经济一体化。它带来了更广泛的选择和更低成本等好处，也带来了工作岗位流失等挑战。
10. Exchange Rates | 汇率
An exchange rate is the price of one currency in terms of another. A rise in the value of a currency is called appreciation; a fall is depreciation. Under a floating system, rates are determined by market forces.
汇率是一种货币以另一种货币表示的价格。货币价值上升称为升值，下降称为贬值。在浮动汇率制度下，汇率由市场力量决定。
A stronger pound (appreciation) makes UK exports more expensive abroad and imports cheaper, potentially worsening the trade balance but helping to reduce inflation.
英镑走强（升值）使英国出口品在海外更贵，进口品更便宜，可能恶化贸易平衡，但有助于降低通胀。
A weaker pound (depreciation) boosts export competitiveness and makes imports more expensive. This can increase demand for domestic goods but may import inflation through higher import costs.
英镑走弱（贬值）提升出口竞争力，使进口品更昂贵。这可以增加对国内商品的需求，但可能通过更高的进口成本输入通胀。
Factors influencing exchange rates include interest rate differentials, inflation rates, trade balances, political stability and speculation. A country with higher interest rates often attracts capital inflows, causing its currency to appreciate.
影响汇率的因素包括利率差异、通胀率、贸易平衡、政治稳定和投机。利率较高的国家通常会吸引资本流入，导致其货币升值。
A fixed exchange rate is when a government pegs its currency to another currency or basket. The central bank must intervene by buying or selling reserves to maintain the peg.
固定汇率是指政府将其货币与另一种货币或一篮子货币挂钩。中央银行必须通过买卖储备进行干预以维持该挂钩。
11. Economic Development and Policy Conflicts | 经济发展与政策冲突
Economic development is a broader concept than growth, encompassing improvements in living standards, health, education and reduced poverty. The Human Development Index (HDI) combines GDP per capita, life expectancy and education.
经济发展是比增长更广泛的概念，涵盖生活水平、健康、教育的改善和贫困的减少。人类发展指数 (HDI) 结合了人均 GDP、预期寿命和教育水平。
Inequality can be measured by the Lorenz curve and Gini coefficient. The Gini coefficient ranges from 0 (perfect equality) to 1 (perfect inequality). Progressive tax systems and welfare benefits aim to reduce inequality.
不平等可以通过洛伦兹曲线和基尼系数来衡量。基尼系数范围从 0（完全平等）至 1（完全不平等）。累进税制和福利制度旨在减少不平等。
Policy conflicts arise when achieving one macroeconomic objective harms another. For example, reducing unemployment quickly may accelerate inflation (Phillips curve trade-off), or high growth can worsen the current account deficit.
当实现一个宏观经济目标损害另一个时，会出现政策冲突。例如，快速降低失业率可能加速通胀（菲利普斯曲线权衡），或高增长可能使经常账户赤字恶化。
Sustainable development meets present needs without compromising future generations' ability to meet theirs. It balances economic, social and environmental objectives, addressing climate change and resource depletion.
可持续发展满足当代需求，而不损害后代满足其需求的能力。它平衡经济、社会和环境目标，应对气候变化和资源枯竭。
Supply-side policies aim to increase the long-run productive potential of the economy. Examples include investment in education and training, infrastructure, deregulation and tax reforms to incentivise work and enterprise.
供给侧政策旨在提高经济的长期生产潜力。例子包括投资教育和培训、基础设施、放松管制以及激励工作和创业的税收改革。
12. Memory Tips and Key Acronyms | 记忆技巧与关键缩写
Create mental connections for difficult terms. For PED formula, remember 'Percentage change in demand over percentage change in price' and use the mnemonic 'Pass the Dough Please'. For factors of production, think CELL: Capital, Enterprise, Land, Labour.
为困难术语建立心理联系。对于 PED 公式，记住“需求量变动百分比除以价格变动百分比”，可用助记符“P 和 D”。对于生产要素，记住 CELL: 资本、企业家才能、土地、劳动。
To recall shift factors of demand, use PIRATES: Population, Income, Related goods (substitutes/complements), Advertising, Tastes, Expectations, Seasons. After customising your own mnemonics, actively test yourself with flashcards and past paper definitions.
要回忆需求移动因素，可用 PIRATES: 人口、收入、相关品、广告、偏好、预期、季节。定制自己的助记符后，用抽认卡和历年真题定义主动测试自己。
Revising with dual-language notes strengthens both economic understanding and academic English. Summarise each section in your own words, draw diagrams linking terms, and regularly practice writing full-sentence definitions under timed conditions.
使用双语笔记复习既能强化经济理解，又能提升学术英语。用自己的话总结每节，绘制联系术语的图表，并在计时条件下定期练习写出完整句子定义。
Published by TutorHao | Economics Revision Series | aleveler.com
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