📚 Year 10 CCEA Economics: Terminology Quick-Memorisation Guide | Year 10 CCEA 经济学术语速记指南
Welcome to your Year 10 CCEA Economics vocabulary fast-track guide. Economics is a subject built on precise terminology, and knowing the language is half the battle. This article groups key terms by topic, gives you clear English definitions followed by Chinese explanations, and includes bite-sized memory tricks. Use it to revise, test yourself, and lock in the language of supply, demand, markets and policy.
欢迎使用 Year 10 CCEA 经济学术语速记指南。经济学建立在精准的术语体系上，掌握语言就是成功的一半。本文按主题梳理核心词汇，先用英文定义帮助理解，再用中文解释巩固记忆，并配上小巧的记忆窍门。你可以用它复习、自测，把供求、市场与政策的术语牢牢印在脑中。
1. Scarcity and Choice | 稀缺性与选择
The starting point of economics is the basic economic problem: our wants are infinite, but resources are finite. This forces every society and individual to make choices.
经济学的起点是基本经济问题：我们的欲望是无限的，但资源是有限的。这迫使每个社会和每个人做出选择。
Scarcity: The fundamental condition where limited resources cannot satisfy all wants. Memory tip: Visualise a 'SCARCE' diamond – rare and in short supply.
稀缺性：资源有限而无法满足所有欲望的根本状态。记忆技巧：想象一颗“稀缺”的钻石——稀有且供应不足。
Needs: Goods and services essential for survival, such as food, water and shelter. They are fixed and universal.
必需品：维持生存必不可少的商品和服务，如食物、水和住所。它们是固定且普遍存在的。
Wants: Desires for goods and services that go beyond basic survival – a new phone, a holiday. Wants are unlimited and shaped by culture and advertising.
欲望：超出基本生存所需的商品和服务渴求，比如新手机、度假。欲望是无限的，并受文化和广告影响。
Economic good: A good that uses scarce resources to produce and therefore commands a price. Tip: If it costs money, it is an economic good.
经济物品：需要消耗稀缺资源来生产，因而具有价格的物品。窍门：只要花钱才能得到，就是经济物品。
Free good: A good that is abundant and has no opportunity cost, like sunlight or air – until pollution strikes! Remember 'free' means no charge and no sacrifice.
免费物品：丰富且没有机会成本的物品，如阳光或空气——不过污染出现后就不一定了。记住“免费”意味着无需付费也无需牺牲。
Choice: The act of selecting among alternatives because of scarcity. Every choice involves giving something up.
选择：由于稀缺性在替代选项中做出取舍的行为。每一个选择都意味着放弃某些东西。
2. Opportunity Cost and Trade-offs | 机会成本与权衡
Whenever a choice is made, the next best alternative forgone is the opportunity cost. This concept lies at the heart of rational decision-making.
每当做出选择，被放弃的次优选项就是机会成本。这一概念是理性决策的核心。
Opportunity cost: nstead of gaming, the opportunity cost is the enjoyment lost from gaming. Memory aid: OC = 'Other Choice' you gave up.
机会成本：当你做出决策时，所放弃的次优选项的价值。比如，你花一小时学习经济学而不是打游戏，机会成本就是失去的游戏乐趣。记忆口诀：OC = 放弃的“Other Choice”。
Trade-off: The broader set of alternatives sacrificed when we choose. For a government, a trade-off might mean spending more on healthcare at the expense of education.
权衡：我们选择时所牺牲的更广泛的选项集合。对政府而言，权衡可能意味着增加医疗开支而牺牲教育支出。
Economic problem: The combination of unlimited wants and scarce resources that requires us to answer 'what, how and for whom' to produce. Think of the '3 Basic Questions'.
经济问题：无限欲望与稀缺资源并存，迫使我们回答“生产什么、如何生产、为谁生产”。联想“三个基本问题”。
Production possibility frontier (PPF): A curve showing the maximum combinations of two goods an economy can produce with full resource use. Points inside the PPF highlight inefficiency and opportunity cost of unused resources.
生产可能性边界（PPF）：表示一个经济体在充分利用资源时能生产的两种商品最大组合的曲线。PPF 内部的点代表效率低下和闲置资源的机会成本。
3. Factors of Production | 生产要素
Resources used to produce goods and services are divided into four categories, each earning a reward. CCEA learners often use 'CELL' to recall them.
用于生产商品和服务的资源分为四大类，每一类都获得相应报酬。CCEA 学习者常用“CELL”来记忆。
Land: All natural resources – soil, minerals, water, forests. Its reward is rent. Tip: Picture a farmer receiving rent for using a field.
土地：所有自然资源——土壤、矿产、水域、森林。其报酬是地租。技巧：想象农民因使用田地而支付租金。
Labour: : The human physical and mental effort used in production. Reward: wages. Memory hook: Labour = work, wages = weekly pay.
劳动：生产中投入的人体与脑力付出。报酬：工资。记忆钩子：劳动 = 工作，工资 = 周薪。
Capital: Man-made aids to production, such as machinery, tools and factories. Its reward is interest. Remember 'Capital pays interest' – just like a bank loan for machinery.
资本：人造的生产辅助物，如机器、工具和厂房。其报酬是利息。记住“资本支付利息”——就像购置机器的银行贷款。
Enterprise: The ability to combine the other three factors to create goods and services, bearing risk. Reward: profit. Entrepreneurs start businesses hoping for profit. Use 'Entrepreneur earns Profit'.
企业：将其他三种要素结合起来创造商品与服务并承担风险的能力。报酬：利润。企业家创办企业以追逐利润。口诀：“企业家赚利润”。
Mobility of factors: The ease with which a factor can move between uses or locations. Land is geographically immobile; labour can be occupationally immobile due to skills gaps. Tip: Think of 'mobile' phone – labour mobility is about moving, capital mobility is about switching machines.
要素流动性：生产要素在不同用途或地点间转移的难易程度。土地在地理上不可移动；劳动可能因技能差距而职业性不流动。技巧：联想“移动”电话；劳动流动性关乎移动，资本流动性关乎机器转换。
4. Demand – The Buyer's Side | 需求——买方视角
Effective demand requires both willingness and ability to pay. It is not just a wish list but backed by purchasing power.
有效需求既需要购买意愿，也需要购买能力。它不只是愿望清单，而是有购买力支撑的。
Demand: nsumers are willing and able to buy at various prices over a period, ceteris paribus. Tip: 'Demand = Desire + Dollars'.
需求：在其他条件不变的情况下，消费者在一定时期内愿意且能够购买的商品或服务数量。窍门：“需求 = 欲望 + 钱”。
Law of demand: As price rises, quantity demanded contracts; as price falls, quantity demanded extends. This inverse relationship is drawn as a downward-sloping demand curve. Mnemonic: 'Price up, demand down – P.U.D.D.'
需求定律：价格上升，需求量收缩；价格下降，需求量扩张。这一反向关系描绘为向下倾斜的需求曲线。助记：“价格涨，需求降——P.U.D.D.”
Demand curve: A graph showing the link between price and quantity demanded. Movement along the curve is caused by price changes only; a shift of the curve signals a change in a condition of demand.
需求曲线：显示价格与需求量关系的图形。沿着曲线的移动仅由价格变动引起；曲线的平移表示需求条件发生变化。
Conditions of demand (shift factors): Use 'PASIFIC' – Population, Advertising, Substitutes' price, Income, Fashion/tastes, Interest rates, Complements' price. Any rise in these (except for price of complements) shifts demand rightward. Practice by drawing two curves and labelling the shift.
需求条件（移动因素）：使用“PASIFIC”——人口、广告、替代品价格、收入、时尚/偏好、利率、互补品价格。这些因素上升（互补品价格除外）会使需求曲线右移。练习画两条曲线并标注移动。
Ceteris paribus: Latin for 'all other things being equal'. Economists use it to isolate cause and effect. Memory tip: Think 'setting other variables to freeze'.
其他条件不变：拉丁语“其他事物均保持相同”。经济学家用它来隔离因果关系。记忆技巧：把其他变量“冻结”。
5. Supply – The Producer's Side | 供给——生产者视角
Supply reflects the behaviour of firms. They are profit-driven and respond positively to price signals, all else being equal.
供给反映了企业的行为。在逐利驱动下，它们对价格信号做出正向反应，若其他条件相同。
Supply: cers are willing and able to offer for sale at various prices over a period. Tip: Supply = 'Stock + Profit motive'.
供给：生产者在一定时期内愿意且能够以不同价格出售的商品或服务数量。窍门：供给 = “存货 + 利润动机”。
Law of supply: As price rises, quantity supplied extends; as price falls, quantity supplied contracts – an upward-sloping curve. Mnemonic: 'Price up, supply up – P.U.S.S.'
供给定律：价格上升，供给量扩张；价格下降，供给量收缩——向上倾斜的曲线。助记：“价格涨，供给涨——P.U.S.S.”
Supply shift factors (PINTS): Productivity, Indirect taxes and subsidies, Number of firms, Technology, and Costs of raw materials. Lower costs or more firms shift supply right. Use 'PINTS of beer' to remember – suppliers love efficient pubs!
供给移动因素（PINTS）：生产率、间接税与补贴、企业数量、技术、原材料成本。成本降低或企业增多使供给曲线右移。用“品脱啤酒（PINTS）”记忆——供应商喜欢高效的酒吧！
Joint supply: When producing one good automatically yields another, e.g. beef and leather. Tip: Imagine a cow giving both steak and hide – 'joint' supply.
联合供给：生产一种商品时自动产出另一种商品，如牛肉与皮革。技巧：想象一头牛同时提供牛排和皮革——联合供给。
Competitive supply: When resources can switch between products, e.g. farmland used for wheat or barley. A rise in wheat price may reduce barley supply. Think 'compete for land'.
竞争性供给：资源可在产品间切换，如农田用来种小麦或大麦。小麦价格上涨可能导致大麦供给减少。联想“争地”。
6. Market Equilibrium and the Price Mechanism | 市场均衡与价格机制
Where demand meets supply, the market finds its equilibrium – the price that clears the market without shortage or surplus.
需求与供给相遇之处，市场找到均衡——使市场出清、没有短缺也没有过剩的价格。
Equilibrium price: The price where quantity demanded equals quantity supplied. Graphically, it is the intersection of demand and supply curves. Call it the 'market-clearing price'.
均衡价格：需求量等于供给量时的价格。图形上是需求曲线与供给曲线的交点。也称“市场出清价格”。
Excess demand (shortage): w equilibrium, quantity demanded exceeds quantity supplied. This pushes price up. Remember 'D>S = price rises'.
超额需求（短缺）：当价格设定在均衡点以下时，需求量大于供给量。这会推高价格。记住“D > S 则价格上涨”。
Excess supply (surplus): is above equilibrium, quantity supplied exceeds quantity demanded. This forces price down. 'S>D = price falls'.
超额供给（过剩）：当价格高于均衡点时，供给量大于需求量。这会拉低价格。“S > D 则价格下跌”。
Functions of the price mechanism: Signalling (prices carry information), incentive (higher prices encourage production), and rationing (scarce goods go to those willing to pay). Use 'SIR' – Signalling, Incentive, Rationing – like a market knight!
价格机制的功能：信号（价格传递信息）、激励（高价鼓励生产）、配给（稀缺品流向愿付者）。使用“SIR”——信号、激励、配给——像市场骑士！
Consumer and producer surplus: Consumer surplus is the difference between what buyers are willing to pay and what they actually pay. Producer surplus is the difference between the price received and the minimum price firms would accept. Picture a welfare triangle above and below equilibrium.
消费者与生产者剩余：消费者剩余是买家意愿支付与实际支付之差。生产者剩余是卖家获得的价格与最低接受价之差。想象均衡点上下方的福利三角形。
7. Price Elasticity of Demand (PED) | 需求价格弹性
PED measures how responsive quantity demanded is to a change in price. It is a pivotal tool for pricing strategy and tax analysis.
PED 衡量需求量对价格变化的反应程度。它是定价策略和税收分析的关键工具。
PED formula: PED = % change in quantity demanded / % change in price. Always state the formula clearly: PED = (%ΔQd) ÷ (%ΔP). Use absolute value; ignore the minus sign.
PED 公式：PED = 需求量变动百分比 ÷ 价格变动百分比。始终清楚写出：PED = (%ΔQd) ÷ (%ΔP)。取绝对值，忽略负号。
Elastic demand (>1): Quantity demanded changes more than proportionately to price. Common for luxury goods. Revenue rises if price falls. Tip: 'Elastic stretches a lot'.
富有弹性需求（>1）：需求量变化幅度大于价格变化幅度。常见于奢侈品。降价会使总收入增加。技巧：“弹性意味着拉伸很大”。
Inelastic demand (<1): Quantity demanded changes less than proportionately. Often for necessities or items with few substitutes. Revenue rises if price rises. Memory: 'Inelastic – insensitive'.
缺乏弹性需求（<1）：需求量变化幅度小于价格变化幅度。常为必需品或替代品很少的商品。涨价会使总收入增加。记忆：“缺乏弹性 = 不敏感”。
Determinants of PED (SPLAT): elastic), Luxury vs necessity, Addictive nature, Time period (longer = more elastic). Use 'SPLAT' as if elasticity is a water balloon hitting the wall!
PED 决定因素（SPLAT）：替代品数量（多则富有弹性）、占收入比例（高则富有弹性）、奢侈品或必需品、成瘾性、时间跨度（越长越有弹性）。把弹性想象成砸在墙上的水球——SPLAT！
Unitary elasticity (=1): A change in price leads to a proportional change in quantity demanded, leaving revenue unchanged. Rare but useful benchmark.
单位弹性（=1）：价格变动引起需求量同比例变动，总收入不变。罕见但属于有用的基准。
8. Price Elasticity of Supply (PES) | 供给价格弹性
PES captures how quickly and easily producers can change output when price alters. Time and spare capacity are key.
PES 反映了生产者对价格变化调整产出的难易与快慢。时间与闲置产能是关键。
PES formula: PES = % change in quantity supplied / % change in price. Always positive because of the law of supply.
PES 公式：PES = 供给量变动百分比 ÷ 价格变动百分比。由于供给定律，始终为正值。
Elastic supply (>1): Producers can increase output quickly without a large rise in costs. Common when spare capacity or stocks exist. Think of a bakery with idle ovens.
富有弹性供给（>1）：生产者能迅速增产而不导致成本大幅上升。常用于有闲置产能或库存时。想象有闲置烤箱的面包店。
Inelastic
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