(完整版)微观经济学(英文版)名词解释.doc
微观经济学-名词解释(全)
第一章引论一、名词解释1.微观经济学与宏观经济学:自凯恩斯的《就业、利息和货币通论》发表后，经济学开始分为宏观经济学和微观经济学两个部分。
前者主要研究人类社会经济活动的总体表现，后者着重分析经济的基本单元的经济行为。
微观经济学与宏观经济学是密切相关的，其主要区别表现在方法论和研究领域上。
2.实证分析和规范分析:实证分析是描述经济现象“是什么”以及社会经济问题实际上是如何解决的。
这种方法旨在揭示有关经济变量之间的函数关系和因果关系。
规范分析是研究经济活动“应该是什么”以及社会经济问题应该是怎样解决的。
这种方法通常要以一定的价值判断为基础，提出某些准则作为经济理论的前提和制定政策的依据，并考察如何才能符合这些准则。
3.相对稀缺性:相对于人类无穷无尽的欲望而言，资源总是稀缺的。
这就产生了研究如何合理地配置和充分利用稀缺资源于诸多用途以满足人类需要的经济学。
经济理论的三大传统支柱是－－－天赋要素、技术和偏好。
随着经济研究的深入，人们越来越认识到仅有这三大支柱是不够的。
新制度经济学家以强有力的证据向人们表明，制度是经济理论的第四大柱石，制度至关重要。
土地、劳动和资本这些要素，有了制度才得以发挥功能。
在不同时期，人类社会所面对的稀缺约束是不一样的。
人类早期的经济活动主要受到有限劳动力的约束，有效率地利用稀缺劳动力是经济发展的关键，早期的各种经济理论都建立在劳动的基础上。
后来，土地、资本的相对稀缺日渐显著，经济学便又去研究土地和资本。
随着越来越多的资源成为相对稀缺，经济学的研究对象越来越广泛，理论也越来越丰富。
4.看不见的手:18世纪英国经济学家亚当·斯密（1723-1790），1776年在《国富论》中提出的命题。
最初的意思是，个人在经济生活中只考虑自己利益，受“看不见的手”驱使，即通过分工和市场的作用，可以达到国家富裕的目的。
后来，“看不见的手”便成为表示资本主义完全竞争模式的形象用语。
这种模式的主要特征是私有制，人人为自己，都有获得市场信息的自由，自由竞争，无需政府干预经济活动。
微观经济学(名词解释)
微观经济学(名词解释）1。
消费者剩余: 指消费者为取得一种商品所愿意支付的价格与他取得该商品而支付的实际价格之间的差额。
2.机会成本：生产一单位的某种商品的机会成本是指生产者所放弃的使用相同的生产要素在其他生产用途中所能得到的最高收入。
3.三级价格歧视:即对于同一商品，完全垄断厂商根据不同市场上的需求价格弹性不同,实施不同的价格。
4。
边际技术替代率：在维持产量水平不变的条件下，增加一单位某种生产要素的投入量时所减少的另一种要素的投入数量。
5。
规模报酬:是消费者在购买一定数量的某种商品时愿意支付的最高总价格和实际支付的总价格之间的差额。
6.市场失灵：是指市场无法有效率地分配商品和劳务的情况.7.价格消费线: 是在消费者的偏好、收入以及其他商品价格不变的条件下，与某一种商品的不同价格水平相联系的消费者效用最大化的均衡点的轨迹。
8。
客观需求曲线：表示在垄断竞争生产集团中的单个厂商改变产品价格,而其它所有厂商也使产品价格发生相同变化时，该厂商的产品价格和销售量之间的关系。
9。
无差异曲线：是用来表示消费者偏好相同的两种商品的所有组合的.或者说,他是表示能够给消费者带来相同的效用水平或满足程度的两种商品的所有组合.10.帕累托最优:如果对于某种既定的资源配置状态，任意改变都不可能使至少有一个人的状况变好而又不使任何人的状态变坏，则称这种资源配置状态为帕累托最优状态。
11.边际替代率：在维持效用水平不变的前提下，消费者增加一单位某种商品的消费数量时所需要的放弃的另一种商品的消费数量，被称为商品的边际替代率。
12.边际产品价值：是指在其他条件不变的前提下，厂商增加一单位要素投入所增加的产品的价值.它为一种投入品的边际产品（也就是额外一单位投入品所导致的额外产出）乘以产品的价格，即VMP=P×MP,表示在完全竞争条件下，厂商增加使用一个单位要素所增加的收益.13.基尼系数：意大利经济学家基尼（CorradoGini，1884—1965）于1912年提出，是国际上用来综合考察居民内部收入分配差异状况的一个重要分析指标。
微观经济学名词解释汇总(完整版)
微观经济学名词解释汇总1 .机会成本：当一个具有多种用途的稀缺资源，用于特定的用途是，所放弃的其他用途中最大的收益。
2 .生产可能性边界：指在一个社会用全部的资源生产两种产品的条件下，在资源和技术水平既定的条件下，所能生产的最大数量组合点的轨迹。
3 .需求：指消费者在一定时期内，在各种可能的价格下愿意而且能够购买的该种商品的数量。
4 .供给：指生产者在一定时期内，在各种可能的价格下愿意而且能够提供出售的该种商品的数量。
5 .均衡价格：指商品的市场需求量和市场供给量相等时候的价格。
6 .供求定理：在其他条件不变的情况下，需求变动分别引起均衡价格和均衡数量的同方向的变动；供给变动引起均衡价格的反方向的变动，引起均衡数量的同方向的变动。
7 .最高限价和最低限价：最高限价也称为限制价格，它是政府所规定的某种产品的最高价格，最高价格总是低于市场的均衡价格的。
最低限价也称为支持价格，它是政府所规定的某种产品的最低价格，最低价格总是高于市场的均衡价格的。
8 .需求价格弹性：指表示在一定时期内，一种商品的需求量变动对于该商品价格变动的反应程度。
9 .需求交叉弹性：指一定时期内一种商品需求量的变动对相关商品价格的反应程度。
10 .需求收入弹性：指一定时期内消费者对某种商品需求量的变动对其收入水平变动的反应程度。
11 .边际效用：指消费者在一定时间内增加一单位商品的消费所得到的效用量的增量。
12 .消费者剩余：指消费者在购买一定数量的某种商品时愿意支付的总价格和实际支付总价格之差。
13 .无差异曲线：指用来表示消费者偏好相同的两种商品不同数量的各种组合点所构成的曲线。
14 .预算线：指在消费者收入和商品价格既定的条件下，消费者的全部收入所能购买到的两种商品的不同数量的各种组合。
15 .边际替代率：指在维持效用水平不变的前提下，消费者增加一单位的某种商品的消费时所需要放弃的另一种商品的消费量。
16 .价格一消费曲线：指在消费者的偏好、收入以及其他商品价格不变的条件下，与某一种商品的不同价格水平相联系的消费者效用最大化的均衡点的轨迹。
微观经济学英文版名词解释超详细
微观经济学名词解释1经济周期,经济学;经济，国家的经济状况缺乏的，罕见的.功效; 效率，效能;实力，能力; [物]性能;.同等，平等; [数]相等，等式;[ɜː'nælɪtɪ]外部性’s a 旁观者; 局外人; 看热闹的人a[ɪn'ɪʃ(ə)n]增加的 a权力分散; 人口疏散; 密度分散a a 分配，分派; 把…拨给;英[ˈæləɪt]a ( ) a’s2a 家庭; 家庭，户[æəʊiːkə'nɒmɪ; ], , ,[ɪəʊiːkə'nɒmɪ['nɔːmətɪv]标定，规定; 指定，规定;美[ɪˈɪb]准的['ʌɪə） a3aa a美[də'ɪɪ】合乎国内的Array4完全竞a ['ə] 同一的，完全相同的美[aɪˈdɛɪkəl] a 争市场互补品a['kɑəmə]需求曲a a线需求表 a a[ɪ'lɪɪəm]a均衡均衡价格a , , a劣质品[ɪn'fɪərɪə], , a需求原理, , a供给原理a aa , ,普通商品需求量 a a aa a a a ['s ɜəs] a5需求交叉弹性是需求交叉价格弹性a a , [æ'ɪs ə] n . 弹性; 弹力; 灵活性; 伸缩性;a 需求的收入弹性a a a ’ , 需求价格弹性a a a ,供给的价格弹性 a a a , ( a )总收入; 总收益 a ,6['ːl ɪŋ] a ['mæɪm əm] a a a ['ɪɪd(ə)]a a7[k ən'ːm ə]['s ɜːəs]消费者剩余 a a ['ɪn əs] a a a a ’s美[ˌæləˈɪʃn]分配，配给受益者负担 a a8无谓损失又为社会净损失 过剩的; 多余的[ˈsɜəs] a 变形; 失真[d ɪˈɔr ʃən], a9n . 关税;关税表; 价格表aa10['θɪər əm] 科斯定理, 外在性矫正税 a a [ɜː'næl ɪt ɪ] n . 外形; 外在性; 外部事物;（经济学名词） 外部效应’s a内化 [ɪn's ɛɪv][æn'zæk ʃən]交易 a11可排他的; 包括在外的;–成本效益分析a a [ɪːd ə'b ɪl ətɪ]排他性a a[释义]坐享其成，无本获利; a a 消费竞争 a ’s ’s公共地悲剧 a 寓言; 格言; a12[释义]负担能力原则，付税能力原则; an.预算赤字; a 亏空; 缺空 预算结余 纳税横向均等;总量税 a 边际税率累进税 a a 分数; 一小部分 比例税率 a累退税 a a纵向公平 a13清楚的，明确的边际产量递减规律规模不经济,规模经济最小有效规模固定成本 隐性成本 边际成本a a ( )a[释义]变动成本;14a a沉没成本 a15[m ə'nɒp(ə)lɪ]a an.垄断; 专卖; 垄断者; 专利品; a a a a16垄断竞争市场 a求过于供的市场情况; a a17<经>卡特尔，企业联合 a ['ːnɪs(ə)n]a<经>卡特尔，企业联合 a a a['ə]缩减指数 a 100纳什均衡a[,ɑl ə'g ɑp ə] a a寡头’ [d ɪˈə囚徒困境”是1950年美国兰德公司提出的博弈论模型 a “” 18边际产量递减规律a边际价值19补偿微分 a [d ɪɪm ɪ'ɪʃ(ə)n] ; 歧视, , , , 效率工资 平衡，均势; 平静ˌ[əˈl ɪəm] *人力资本 , ,n . 攻击; 罢工[课，市]; 发现移开; 撤回 a aa , ,。
(完整版)微观经济学主要知识点总结
微观经济学1第一章导言一、经济学Economy，一词有节约之意。
N.G. 曼昆在《经济学原理》中说：经济这个词来源于希腊语，其意为“管理一个家庭的人”。
经济学无疑是关于经济的学问。
而经济问题总面临着一个不可避免的事实，即任何社会或个人总无法得到其想要的一切。
这就引发了一个稀缺的问题。
稀缺性（Scarcity）是指欲望总是超过了能用于满足的资源。
经济活动就是人们克服稀缺性的活动，经济学当然就是关于资源稀缺性的学问。
萨缪尔森：“经济学是研究社会如何使用稀缺资源来生产有价值的产品，并在不同集团之间分配这些产品（的学科）。
”曼昆：经济学研究社会如何管理自己的稀缺资源。
《牛津经济学辞典》：Economics：一种有关稀缺的资源如何被或应该被分配的研究。
总之，经济学就是关于人们如何利用稀缺资源的一门学科。
经济包括经济主体和市场。
经济活动中的主体（Economic Agents）是作出最优化的选择或经济决策的一方。
基本经济主体包括：居民户（Households）、厂商（Firms）、政府（Goverments）。
经济主体之间的联系就是市场。
市场是任何一种方便于买卖的安排。
市场包括：产品市场和要素市场。
产品市场是产品和劳务买卖的市场。
要素市场是各种生产要素买卖的市场。
生产要素是经济中的生产性资源，分为劳动、土地、资本。
经济学研究的对象：生产与消费、收入分配、就业、货币、政府在经济中的作用、国际贸易等经济学表述方法分为实证的和规范的两种。
以实证表述为内容的经济学为实证经济学（Positive E），即关于“是什么”的表达。
以规范表述为内容的经济学为规范经济学（Normative E），即关于“应该是什么”的表述。
二、生产可能性边界生产是把土地、劳动和资本这些生产要素转化为产品与劳务的过程。
由于资源是稀缺的，也就限制了所能生产的结果，即，能生产某一数量和不能生产某一数量。
生产可能性边界（Production Possibility Frontier, PPF），表示了能生产出来的产品和劳务与不能生产出来的产品和劳务之间的界线。
宏观经济学原理(第七版)曼昆-名词解释(带英文)
宏观经济学原理(第七版)曼昆-名词解释(带英文)宏观经济学原理曼昆名词解释微观经济学（microeconomics），研究家庭和企业如何做出决策，以及它们如何在市场上相互影响。
宏观经济学（macroeconomics），研究整体经济现象，包括通货膨胀、失业和经济增长。
国内生产总值GDP（gross domestic product），在某一既定时期，一个国家内生产的所有最终物品与服务的市场价值。
消费（consumption），家庭除购买新住房之外，用于物品与服务的支出。
投资（investment），用于资本设备、存货和建筑物的支出，包括家庭用于购买新住房的支出。
政府购买（government purchase），地方、州和联邦政府用于物品与服务的支出。
净出口（net export），外国人对国内生产的物品的支出（出口），减国内居民对外国物品的支出（进口）。
生产。
真实GDP（real GDP），按不变价格评价的物品与服务的生产。
（总之，名义GDP是用当年价格来评价经济中物品与服务生产的价值，真实GDP是用不变的基年价格来评价经济中物品与服务生产的价值。
）GDP平减指数（GDP, deflator），用名义GDP与真实GDP的比率乘以100计算的物价水平衡量指标。
消费物价指数CPI（consumer price index），普通消费者所购买的物品与服务的总费用的衡量指标。
通货膨胀率（inflation rate），从前一个时期以来，物价指数变动的百分比。
生产物价指数（producer price index），企业所购买的一篮子物品运服务的费用的衡量指标。
指数化（indexation），根据法律或合同按照通货膨胀的影响，对货币数量的自动调整。
名义利率（nominal interest rate），通常公布的、未根据通货膨胀的影响，校正的利率。
真实利率（real interest rate），根据通货膨胀的影响校正过的利率。
微观经济学-(英文版)名词解释
微观经济名词解释CHAPTER 1Scarcity：the limited nature of society's resources。
Economics：the study of how society manages its scarce resources.Efficiency：the property of society getting the most it can from its scarce resources。
Equity：the property of distributing economic prosperity fairly among the members of society。
Opportunity cost：whatever must be given up to obtain some item.Rational people：people who systematically and purposefully do the best they can to achieve their objectives. Marginal changes：small incremental adjustments to a plan of action.Incentive：something that induces a person to act。
Market economy：an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services。
Property rights：the ability of an individual to own and exercise control over scarce resources。
西方经济学名词解释 英文版
西方经济学名词解释英文版第一章Macroeconomics 宏观经济学The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. 研究国民收入的各方面。
Microeconomics 微观经济学The study of the operations of the components of a national economy, such as individual firms, households, and consumers.研究经济中单个因素行为的分析。
GDP 国内生产总值 (Gross Domestic Product)The total market value of all final goods and services producedwithin the borders of a nation during a specified period.一国国民在各行业中一年内生产的最终产品和最终服务价值总和。
It isoften seen as an indicator of the standard of living ina country.Gross Domestic Product,consumption + investment goods + government purchases + net exportsEconomic Growth 经济增长steady growth in the productive capacity of the economy (and so a growth of national income)Real Economic Growth Rate 实际经济增长率A measure of economic growth from one period to another expressed as a percentage and adjusted for inflation (i.e. expressed inreal as opposed to nominal terms). The real economic growth rate isa measure of the rate of change that a nation's gross domestic product (GDP) experiences from one year to another. Gross national product (GNP) can also be used if a nation's economy is heavily dependent on foreign earnings. The real economic growth rate builds onto the economic growth rate by taking into account the effect that inflation has on the economy. The real economic growth rate is a "constant dollar" and therefore a more accurate look at the rate of economic growth because the real rate is not distorted by the effects of extreme inflation or deflation.GDP deflator GDP指数In economics the GDP deflator (implicit price deflator for GDP) is a measure of the change in prices of all new, domestically produced, final goods and services in an economy. GDP stands for gross domestic product the total value of all goods and services produced within that economy during a specified period.Nominal GDP 名义GDPA gross domestic product (GDP) figure that has not been adjusted for inflation.Real GDP 实际GDPThis inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price", "inflation-corrected" GDP or "constant dollar GDP". Unlike nominal GDP, real GDP can accountfor changes in the price level, and provide a more accurate figure.Potential output 潜在产量/潜在GDPIn economics, potential output (also refered to as "natural real gross domestic product") refers to the highest level of real Gross Domestic Product output that can be sustained over the long term.GDP Gap GDP缺口The forfeited output of an country's economy resulting from the failure to create sufficient jobs for all those willing to work. A GDP gap denotes the amount of production that is irretrievably lost. The potential for higher production levels is wasted because therearen't enough jobs supplied.(与书异)Net Exports 净出口The value of a country's total exports minus the value of its total imports. It is used to calculate a country's aggregate expenditures, or GDP, in an open economy. In other words, net exports is the amount by which foreign spending on a home country's goods and services exceeds the home country's spending on foreign goods and services.Recession 经济衰退A significant decline in activity spread across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income, and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's GDP.Notes: Recession is a normal (albeit unpleasant) part of the business cycle. A recession generally lasts from six to eighteen months.Interest rates usually fall in recessionary times to stimulate the economy by offering cheap rates at which to borrow1money.Depression 经济萧条A severe and prolonged recession characterized by inefficient economic productivity, high unemployment, and falling price levels. In times of depression, consumer's confidence and investments decrease, causing the economy to shutdown. Value Added 附加值The enhancement a company gives its product or service beforeoffering the product to customers. This can either increase the products price or value.(与书异)Gross National Product – GNP 国民生产总值An economic statistic that includes GDP, plus any income earned by residents from overseas investments, minus income earned within the domestic economy by overseas residents. GNP is a measure of a country's economic performance, or what its citizens produced (i.e. goods and services) and whether they produced these items within its borders.Disposable Income 可支配收入The amount of after-tax income that is available to divide between spending and personal savings. This also known as your take home pay.Unemployment Rate 失业率The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.Labor force 劳动力the group of people who have a potential for being employed.Frictional Unemployment 摩擦性事业Unemployment that is always present in the economy, resulting from temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information.Structural Unemployment 结构性失业Unemployment resulting from changes in the basic composition of the economy. These changes simultaneously open new positions for trained workers.Cyclical Unemployment 周期性失业Unemployment resulting from changes in the business cycle.Natural Unemployment 自然失业率(与书异)The lowest rate of unemployment that an economy can sustain over the long run. Keynesians believe that a government can lower the rate of unemployment (i.e. employ more people) if it were willing to accept a higher level of inflation (the idea behindthe Phillips Curve). However, critics of this say that the effect is temporary and that unemployment would bounce back up but inflation would stay high. Thus, the natural, or equilibrium, rate is the lowest level of unemployment at which inflation remainsstable. Also known as the "non-accelerating inflation rate of unemployment" (NAIRU).Notes: When the economy is said to be at full employment, it is atits natural rate of unemployment. Economists debate how the natural rate might change. For example, some economists think that increasing labor-market flexibility will reduce the natural rate. Other economists dispute the existence of a natural rate altogether!Frictional unemployment — This reflects the fact that it takes time for people to find and settle into new jobs. If 12 individuals each take one month before they start a new job, the aggregate unemployment statistics will record this as a single unemployed worker. Technological change often reduces frictional unemployment, for example: the internet made job searches cheaper and more comprehensive.Structural unemployment — This reflects a mismatch between theskills and other attributes of the labour force and those demanded by employers. If 4 workers each take six months off to re-train before they start a new job, the aggregate unemployment statistics will record this as two unemployed workers. Technological change often increases structural unemployment, for example: technological change might require workers to re-train.Natural rate of unemployment — This is the summation of frictional and structural unemployment. It is the lowest rate of unemployment that a stable economy can expect to achieve, seeing as some frictional and structural unemployment is inevitable. Economists do not agree on the natural rate, with estimates ranging from 1% to 5%, or on its meaning —some associate it with"non-accelerating inflation.The estimated rate varies from countryto country and from time to time. Demand deficient unemployment — In Keynesian economics, any level of unemployment beyond the natural rateis most likely2due to insufficient demand in the overall economy. During a recession, aggregate expenditure is deficient causing theunderutilization of inputs (including labour). Aggregate expenditure (AE) can be increased, according to Keynes, by increasing consumption spending (C), increasing investment spending (I), increasing government spending (G), or increasing the net of exports minus imports (X?M).{AE = C + I + G + (X?M)}Okun's Law 奥昆法则A relationship between an economy's GDP gap and the actual unemployment rate. The relationship is represented by a ratio of 1 to2.5. Thus, for every 1% excess of the natural unemployment rate, a 2.5% GDP gap is predicted.Inflation 通货膨胀The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.Deflation 通货紧缩 steadily falling pricesA general decline in prices, often caused by a reduction in thesupply of money or credit. Deflation can be caused also by a decrease in government, personal or investment spending. The opposite of inflation,deflation has the side effect of increased unemployment since there is a lower level of demand in the economy, which can lead to an economic depression. Hyperinflation 超级通货膨胀Extremely rapid or out of control inflation.Inflation rate 通货膨胀率In economics, the inflation rate is the rate of increase of the average price level (a measure of inflation). If one likes analogies, the size of a balloon is like the price level, while the inflation rate is how quickly it grows in size. Alternatively, the inflation rate is the rate of decrease in the purchasing power of money.Consumer Price Index (CPI) 消费价格指数The CPI, as it is called, measures the prices of consumer goods and services and is a measure of the pace of US inflation. The US Department of Labor publishes the CPI every month.Demand,pull inflation 需求拉动型通货膨胀inflation due to high demand for GDP and low unemployment, also known as Phillips Curve inflation. Cost,push inflation 成本推动型通货膨胀nowadays termed "supply shock inflation", due to an event such as a sudden increase in the price of oil. Built-in inflation - induced by adaptive expectations, often linked to the "price/wage spiral" because it involves workers tryingto keep their wages up with prices and then employers passing higher costs on to consumers as higher prices as part of a "vicious circle".Built-in inflation reflects events in the past, and so might be seen as hangover inflation. It is also known as"inertial" inflation, "inflationary momentum", and even "structural inflation".Indexing 指数化The adjustment of the weights of assets in an investment portfolio so that its performance matches that of an index. Linking movements of rates to the performance of an index.Notes:1. Indexing is a passive investment strategy. An investor can achieve the same risk and return of an index also by investing in an index fund.2. Types of rates that could be linked to the performance of an index are wage or tax rates.Phillips Curve 菲利普斯曲线An economic concept developed by A. W. Phillips stating thatinflation and unemployment have a stable and inverse relationship. The theory states that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment. The concept has been proven empirically and some government policies are directly influenced by it.第二章Aggregate Demand 总需求The total amount of goods and services demanded in the economy at a given overall price level and in a given time period. It is represented by the aggregate-demand curve, which describes the relationship between price levels and the quantity of output that firms are willing to provide. Normally there is a negative relationship between aggregate demand and the price level. Also3known as "total spending".Notes:Aggregate demand is the demand for the gross domestic product (GDP) of a country, and is represented by this formula: Aggregate Demand (AD) = C + I + G (X-M)C = Consumers' expenditures on goods and services.I = Investment spending by companies on capital goods.G = Government expenditures on publicly provided goods and services.X = Exports of goods and services.M = Imports of goods and services.Aggregate Supply 总供给The total supply of goods and services produced within an economy at a given overall price level in a given time period. It is represented by the aggregate-supply curve, which describes the relationship between price levels and the quantity of output thatfirms are willing to provide. Normally, there is a positive relationship between aggregate supply and the price level. Rising pricesare usually signals for businesses to expand production to meet a higher level of aggregate demand. Also known as "totaloutput".Notes:A shift in aggregate supply can be attributed to a number of variables. These include changes in the size and quality of labor, technological innovations, increase in wages, increase in production costs, changes in producer taxes and subsidies, and changes in inflation. In the short run, aggregate supply responds to higher demand (and prices) by bringing more inputs into the production process and increasing utilization of current inputs. In the long run, however, aggregate supply is not affected by theprice level and is driven only by improvements in productivity and efficiency.Exogenous Variable 外生变量A variable whose value is determined outside the model in which itis used.An economic variable that is related to other economic variables and determines their equilibrium levels. For example, rainfall is exogenous to the causal system constituting the process offarming and crop output. An exogenous variable by definition is one whose value is wholly causally independent from other variables in the system.Endogenous Variable 内生变量A value determined within the context of a model.An economic variable which is independent of the relationships determining the equilibrium levels, but nonetheless affects the equilibrium.Consumption 消费in economics, direct utilization of goods and services by consumers, not including the use of means of production, such as machinery and factories (see capital). Consumption can be divided into public and private sectors.Investment 投资An asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or appreciate and be soldat a higher price. In the financial sense investments include the purchase of bonds, stocks or real estate property. Government Purchases 政府购买Expenditures made in the private sector by all levels of government, such as when a government entity contracts a construction company to build office space or pave highways. A component of Keynesian expenditures, government purchases can be used as a tool for agovernment to influence the business cycle and provide economic stimulation when it is deemed necessary. Keynesian Economics 凯恩斯经济An economic theory stating that active government intervention inthe marketplace and monetary policy is the best method of ensuring economic growth and stability. A supporter of Keynesian economics believes it is the government's job to smooth out the bumps in business cycles. Intervention would come in the form of government spending and tax breaks in order to stimulate the economy, and government spending cuts and tax hikes in good times, in order to curb inflation.Classical Economics 古典经济学4Classical Economics refers to work done by a group of economists in the 18th and 19th centuries. They developed theories about the way markets and market economies work. The study was primarily concerned with the dynamics of economic growth. It stressed economic freedom and promoted ideas such as laissez-faire and free competition. Famous economists of this thinking include Adam Smith, David Ricardo, Thomas Malthus, and John Stuart Mill.Equilibrium of AD and AS 总供给和总需求的均衡supply and demand result in an equilibrium price (the interest rate) Stagflation 滞胀A condition of slow economic growth and relatively high unemployment - a time of stagnation - accompanied by a rise in prices, or inflation.第三章Fiscal Policy 财政政策Government spending policies that influence macroeconomic conditions. These policies affect tax rates, interest rates, and government spending, in an effort to control the economy.Government spending 政府支出consists of government purchases, including transfer payments, which can be financed by seigniorage (the creation of money for government funding), taxes, or government borrowing It is considered to be one of the major components of gross domestic product.Multiplier Effect 乘数效应The expansion of a country's money supply that results from banks being able to lend. The size of the multiplier effect depends on the percentage of deposits that banks are required to hold on reserves. In other words, it is money used to create more money and calculated by dividing total bank deposits by the reserve requirement.The multiplier effect depends on the set reserve requirement. The higher the reserve requirement, the tighter the money supply, which results in a lower multiplier effect for every dollar deposited. The lower the reserve requirement, the larger the money supply, which means more money is being created for every dollar deposited.Crowding Out Effect 挤出效应An economic theory explaining an increase in interest rates due to rising government borrowing in the money market. Notes: Governments often borrow money (by issuing bonds) to fund additional spending. The problem occurs when government debt 'crowds out' private companies and individuals from the lending market. Increased government borrowing tends to increase market interest rates. The problem is that the government can always pay the market interest rate, but there comes a point when corporations and individuals can no longer afford to borrow.Marginal propensity to consume (MPC) 边际消费倾向refers to the increase in personal consumer spending (consumption) that occurs with an increase in disposable income (income after taxes and transfers). For example, if a household earns one extra dollar of disposable income, and the marginal propensityto consume is 0.65, then of that dollar, the family will spend 65 cents and save 35 cents.Mathematically, the marginal propensity to consume (MPC) function is expressed as the derivative of the consumption (C) function with respect to disposable income (Y).In other words, the marginal propensity to consume is measured asthe ratio of the change in consumption to the change in income, thus giving us a figure between 0 and 1. One minus the MPC equals the marginal propensity to save. Marginal propensity to save (MPS) 边际储蓄倾向refers to the increase in saving (non-purchase of current goods and services) that results from an increase in income. For example, if a family earns one extra dollar, and the marginal propensity to save is 0.35, then of that dollar, the family will spend65 cents and save 35 cents. It can also go the other way, referring to the decrease in saving that results from a decrease in income. It is crucial to Keynesian economics and is the key variable determining the value of the multiplier. Mathematically, the marginal propensity to save (MPS) function is expressed as the derivative of the savings (S)function with respect to disposable income (Y).5In other words, the marginal propensity to save is measured as the ratio of the change in saving to the change in income, thus giving us a figure between 0 and 1. It is the opposite of the marginal propensity to consume (MPC). In the example above, the marginal propensity to consume would be 0.65. In general MPS = 1 - MPC.Money Supply 货币供给 (与书异)The entire quantity of bills, coins, loans, credit, and other liquid instruments in a country's economy. Money supply is divided into three categories--M1, M2, and M3--according to the type andsize of account in which the instrument is kept. The money supply is important to economists trying to understand how policies will affect interest rates and growth. M1The category of the money supply that includes all physical moneylike coins and currency. It also includes demand deposits, which are checking accounts and NOW accounts. M1 is the narrowest idea of "money." This is used as a measurement for economists trying to quantify the amount of money in circulation.M2A category within the money supply that includes M1 in addition toall time-related deposits, savings deposits, and non-institutionalmoney-market funds. M2 is a broader classification of money than M1. Economists use M2 when looking to quantify the amount of money in circulation and trying to explain different economic monetary conditions. M3The category of the money supply that includes M2 as well as alllarge time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets. This isthe broadest measure of money it is used by economists to estimate the entire supply of money within an economy. (书没有)Fiat Money 【美】(根据政府法令发行的)不兑现纸币Money that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Most of the world's paper money is fiat money.Legal tender 合法货币;偿付债务时债主必须接受的货币is payment that cannot be refused in settlement of a debt by virtueof law.Transactions demand 交易性需求is the demand or foreign currency. It is used for purposes of business transactions and personal consumption. transactions demand is one of the determinants of demand for money (and credit).Speculative demand 投机性需求is the demand for financial assets, such as securities, money or foreign currency, or financing. It is one of the determinants of demand for money (and credit).Liquidity Preference Theory 流动性偏好理论The hypothesis that forward rates offer a premium over expectedfuture spot rates. Proponents of this theory believe that, according to the term structure of interest rates, investors are risk-averse and will demand a premium for securities with longermaturities. A premium is offered by way of greater forward rates in order to attract investors to longer-term securities. The premium received normally increases at a decreasing rate due to downward pressure from the decreasing volatility of interest rates as the term to maturity increases. Also known as "liquidity preference hypothesis."Interest Rate 利率The monthly effective rate paid (or received if you are a creditor) on borrowed money. Expressed as a percentage of the sum borrowed.Nominal Interest Rate/the money interest rate名义利率The interest rate unadjusted for inflation. Not taking into account inflation gives a less realistic number. Real Interest Rate 实际利率6The amount by which the nominal interest rate is higher than the inflation rate. The real rate of interest is approximated by taking the nominal interest rate and subtracting inflation. The real interest rate is the growth rate of purchasing power derivedfrom an investment.Intermediate targets 中间目标An intermediate target is a variable (such as the money supply) that is not directly under the control of the central bank, but that does respond fairly quickly to policy actions, is observable frequently and bears a predictable relationship to the ultimate goals of policy.Open Market Operations 公开市场业务The buying and selling of government securities in the open marketin order to expand or contract the amount of money in the banking system. Purchases inject money into the banking system and stimulate growthwhile sales of securities do the opposite.Notes: Open market operations are the principal tools of monetary policy. (The discount rate and reserve requirements are also used.) The U.S. Federal Reserve's goal in using this technique is to adjust the federal funds rate--the rate at which banks borrowreserves from each other.Discount Rate 贴现率The interest rate that an eligible depository institution is charged to borrow short-term funds directly from a Federal Reserve Bank. This type of borrowing from the Fed is fairly limited. Institutions will often seek other means of meeting short-term liquidity needs. The Federal funds discount rate is one of two interest rates the Fed sets, the other being the overnight lendingrate, or the Fed funds rate.Lender of Last Resort 最后的贷款者/偿付者An institution, usually a country's central bank, that offers loansto banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky or near collapse. In the U.S. the Federal Reserve acts as the lender of last resort to institutions that do not have any other means of borrowing and whose failure to obtain credit would dramatically affect the economy.Notes: The lender of last resort functions both to protectindividuals who have deposited funds, and to prevent panic withdrawing from banks who have temporary limited liquidity. Commercial banksusually try not to borrow from the lender of last resort because such action indicates that the bank is experiencing financial crisis. Critics of the lender-of-last-resort methodology suspect that the safety it provides inadvertently tempts qualifying institutions to acquire morerisk than necessary -since they are more likely to perceive the potential consequences of risky actions to be less severe.Reserve Requirements 法定准备金Requirements regarding the amount of funds that banks must hold in reserve against deposits made by their customers. This money must be in the bank's vaults or at the closest Federal Reserve Bank.Notes: Set by the Fed's Board of Governors, reserve requirements are one of the three main tools of monetary policy. The other two tools are open market operations and the discount rate. Also known as required reserves.第四章Supply-side economics 供给经济学A theory of economics that reductions in tax rates will stimulate investment and in turn will benefit the entire society.Laffer Curve 拉弗尔曲线Invented by Arthur Laffer, this curve shows the relationship between tax rates and tax revenue collected by governments. The chart below shows the Laffer Curve:7The curve suggests that, as taxes increase from low levels, tax revenue collected by the government also increases. It also shows that tax rates increasing after a certain point (T*) would cause people not to work as hard or not at all, thereby reducing tax revenue. Eventually, if tax rates reached 100% (the far right of the curve), then all people would choose not to work because everything they earned would go to the government.Notes: Governments would like to be at point T*, because it is the point at which the government collects maximum amount of tax revenue while people continue to work hard.Tax revenue税收is the income that is gained by governments because of taxation of the peopleBudget deficit 联邦预算赤字The amount by which government spending exceeds government revenues.Unemployment benefits 失业救济are sums of money given to the unemployed by the government or a compulsory para-governmental insurance system. Depending on the。
曼昆经济学原理微观名词解释(中英)
曼昆经济学原理（第七版）微观经济学分册名词解释中英文归纳CHAPTER 1Ten Principles of EconomicsScarcity: the limited nature of society’s resources稀缺性:社会资源的有限性Economics: the study of how society manages its scarce resources经济学:研究社会如何管理自己的稀缺资源。
Efficiency: the property of society getting the most it can from its scarce resources效率:社会能从其稀缺资源中得到最大利益的特性Equality: the property of distributing economic prosperity uniformly among the members of society平等：经济成果在社会成员中平均分配的特性Opportunity cost: whatever must be given up to obtain some item机会成本:为了得到某种东西所必须放弃的东西。
Rational people: people who systematically and purposefully do the best they can to achieve their objectives理性人:系统而有目的地尽最大努力实现其目标的人Marginal change: a small incremental adjustment to a plan of action边际变动:对行动计划的微小增量调整Incentive: something that induces a person to act激励:引起一个人做出某种行为的某种东西。
Market economy: an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services市场经济:当许多企业和家庭在物品与服务市场上相互交易时，通过它们的分散决策配置资源的经济。
微观经济学中各个字母缩写对应的中英文意思完整版.doc
P：价格Price Q：数量Number D：需求Demand S供给Supply E：均衡（或期望）Equilibrium 效用Utility TU：Total utility总效用MU：Marginal utility边际效用CS: Consumer surplus消费者剩余MRS：商品的边际替代率Marginal rate of substitutionL：劳动力Labor TP:总产量AP：平均产量MP:边际产量MRTS:边际技术替代率STC：短期总成本土地( Land）成本（Capital）边际效用（Marginal utility）利润（Profit）长期（Long run）TFC：总不变成本Total fixed costTVC：总可变成本Total variable costTC：总成本Total costAFC：平均不变成本Average fixed costAVC：平均可变成本Average variable cost）AC：平均总成本Average total cost 平均成本（Average cost）MC：边际成本Marginal costLTC：长期总成本Long run total costLAC：长期平均成本Long run average costSAC：短期平均成本Short run average costLMC：长期边际成本Long run marginal costSMC：短期边际成本Short run marginal costTR：总收益Total revenueAR：平均收益Average revenueMR：边际收益Marginal revenueMP：边际产品（Marginal product）VMP：边际产品价值Value of the marginal productMRP：边际收益产品Marginal revenue productMFC：边际要素成本Marginal cost of factorPEP：价格扩展线Price line extension课件。
微观经济学名词解释汇总(完整版)
微观经济学名词解释汇总(完整版)微观经济学名词解释汇总一、供给（Supply）在经济学中，供给是指市场上出售的商品或服务的数量。
供给的决定因素主要包括生产成本、技术进步、生产要素的供给以及预期市场价格等。
供给曲线通常是一个向上倾斜的曲线，表示在价格上升的情况下，供给的数量也会增加。
二、需求（Demand）需求是指消费者在一定价格下愿意购买的商品或服务的数量。
需求的决定因素主要包括价格、消费者收入、相关商品价格和个人偏好等。
需求曲线通常是一个向下倾斜的曲线，表示在价格上升的情况下，需求的数量会减少。
三、均衡价格和均衡数量（Equilibrium Price and Quantity）均衡价格和均衡数量是指供给和需求达到平衡时的价格和数量。
在均衡价格下，市场上供给的数量和消费者需求的数量完全相等，市场处于供需平衡的状态。
这一均衡的价格和数量由市场自主调节形成。
四、边际效用（Marginal Utility）边际效用是指消费者从每多消费一单位商品或服务中获得的额外满足程度。
边际效用逐渐递减的原理认为，随着继续消费，每多消费一单位商品或服务的满足程度逐渐减少。
五、边际成本（Marginal Cost）边际成本是指企业在生产中每多生产一单位产品所承担的额外成本。
边际成本逐渐增加的原理认为，随着生产规模的扩大，每增加一单位产量的成本逐渐增加。
六、弹性（Elasticity）弹性是指需求或供给对价格或收入变化的反应程度。
根据弹性变化的幅度，需求和供给可以分为弹性、非常弹性和完全不弹性。
弹性需求表示价格变化对需求变化的反应很大，而非常弹性需求表示价格变化对需求变化的反应很小。
七、垄断（Monopoly）垄断是指市场上只有一个卖家或供应商的市场形式。
垄断者通常会通过限制和控制市场中的供给，来操纵产品或服务的价格。
这种市场结构下，垄断者通常能够获得较高的利润。
八、竞争（Competition）竞争是指市场上存在多个卖家或供应商的市场形式。
微观经济学英文版名词解释超详细
微观经济学名词解释Chapter 1businesscycle 经济周期fluctuations in economic activity, such as employment and productioneconomics经济学;经济，国家的经济状况the study of how society manages its scarce缺乏的，罕见的resourcesefficiency n.功效; 效率，效能; 实力，能力; [物] 性能;the property of society getting the most it can from its scarce resourcesequality n.同等，平等; [数] 相等，等式;the property of distributing economic prosperity uniformly among the members of societyexternality[the unpensated impact of one person’s actions on the well-being of aChapter 2circular-flow diagram a visual model of the economy that shows how dollars flow through markets among households 家庭; 家庭，户and firmsmacroeconomics[,mækrəʊiːkə' nɒmɪks; -ek-] the study of economy-wide phenomena, including inflation, unemployment, and economic growthmicroeconomics[,maɪkrəʊiːkə'n ɒmɪks the study of how households and firms make decisions and how they interact in marketsnormative['nɔːmətɪv]标准的statements claims that attempt to prescribe定，规定; 指定，规定;美[prɪˈskraɪb] how the world should bepositivestatementsclaims that attempt to describe the world as it is productionpossibilities frontier ['frʌntɪə）a graph that shows the binations of output that the economy can possibly produce given the available factors of production and the available production technologyChapter 3absoluteadvantagethe ability to produce a good using fewer inputs than another producerparative advantage the ability to produce a good at a lower opportunity cost than another producerexports goods produced domestically美[də'mestɪklɪ】合乎国内的and sold abroadimports goods produced abroad and sold domesticallyopportunitycostwhatever must be given up to obtain some itemChapter 4petitivemarket 完全竞争市场a market with many buyers and sellers['selə] trading identical同一的，完全相同的美[aɪˈdɛntɪkəl] products so that each buyer and seller is a price takerplements互补品['kɑmpləmətwo goods for which an increase in the price of one leads to a decrease in the demand for the othernt] demandcurve 需求曲线a graph of the relationship between the price of a good and the quantity demandeddemandschedule需求表a table that shows the relationship between the price of a good and the quantity demandedEquilibrium[,ikwɪ'lɪbrɪəm]均衡a situation in which the market price has reached the level at which quantity supplied equals quantity demandedequilibriumprice 均衡价格the price that balances quantity supplied and quantity demandedequilibrium quantity the quantity supplied and the quantity demanded at the equilibrium priceinferiorgood劣质品[ɪn'fɪərɪə] a good for which, other things equal, an increase in ine leads to a decrease in demandlaw of the claim that, other things equal, the quantity demanded of a gooddemand需求原理falls when the price of the good rises law ofsupply 供给原理the claim that, other things equal, the quantity supplied of a good rises when the price of the good riseslaw ofsupply and demand the claim that the price of any good adjusts to bring the quantity supplied and the quantity demanded for that good into balancemarket a group of buyers and sellers of a particular good or service normalgood普通商品a good for which, other things equal, an increase in ine leads to an increase in demandquantitydemanded需求量the amount of a good that buyers are willing and able to purchasequantitysuppliedthe amount of a good that sellers are willing and able to sell shortage a situation in which quantity demanded is greater than quantity suppliedsubstitutes two goods for which an increase in the price of one leads to anincrease in the demand for the othersupply curve a graph of the relationship between the price of a good and the quantity suppliedsupply schedule a table that shows the relationship between the price of a good and the quantity suppliedsurplus ['sɜ:pləs] a situation in which quantity supplied is greater than quantity demandedChapter 5 cross-pric e elasticityof demand 需求交叉弹性是需求交叉价格弹性a measure of how much the quantity demanded of one good responds to a change in the price of another good, puted as the percentage change in quantity demanded of the first good divided by the percentage change in the price of the second goodelasticity[,ilæ'stɪsəti] n弹性; 弹a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants.力; 灵活性; 伸缩性;ineelasticity of demand需求的收入弹性a measure of how much the quantity demanded of a good responds to a change in consumers’ ine, puted as the percentage change in quantity demanded divided by the percentage change in inepriceelasticity of demand需求价格弹性a measure of how much the quantity demanded of a good responds to a change in the price of that good, puted as the percentage change in quantity demanded divided by the percentage change in pricepriceelasticity of supply 供给的价格弹性a measure of how much the quantity supplied of a good responds to a change in the price of that good, puted as the percentage change in quantity supplied divided by the percentage change in pricetotal the amount paid by buyers and received by sellers of a good, puted asrevenue (ina market)总收入;总收益the price of the good times the quantity soldChapter 6priceceiling ['siːlɪŋ] a legal maximum['mæksɪməm] on the price at which a good can be soldprice floor a legal minimum on the price at which a good can be sold taxincidence['ɪnsɪd(ə)ns] the manner in which the burden of a tax is shared among participants in a marketChapter 7 consumer[k ən'sjuːmə]surplus ['sɜːpləs]消费者剩余the amount a buyer is willing to pay for a good minus ['maɪnəs] the amount the buyer actually pays for itcost the value of everything a seller must give up to produce a goodefficiency the property of society getting the most it can from its scarce resources equality the property of distributing economic prosperity uniformly among the members of societyproducer surplus the amount a seller is paid for a good minus the seller’s cost of providing itwelfare economics the study of how the allocation美[ˌæləˈkeɪʃn]分配，配给of resources affects economic well-beingwillingnessto pay 受益者负担the maximum amount that a buyer will pay for a goodChapter 8Deadweight loss无谓损失又为社会净损失the fall in total surplus过剩的; 多余的[ˈsɜ:rpləs] that results from a market distortion变形; 失真[dɪˈstɔrʃən], such as a taxChapter 9tariff a tax on goods produced abroad and sold domesticallyn .关税; 关税表; 价格表world price the price of a good that prevails in the world market for that goodChapter 10 Coasetheorem['θɪərəm] 科斯定理the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities 外在性on their owncorrectivetax 矫正税a tax designed to induce private decision makers to take account of the social costs that arise from a negative externalityexternality [,ekstɜː'n ælɪtɪ]n .外形; 外在性; 外部事物;（经济the unpensated impact of one person’s actions on the well-being of abystander学名词）外部效应internalizing the externality 内化altering incentives[ɪn'sɛntɪv] so that people take account of the external effects of their actionstransaction[træn'zæk ʃən]交易costs the costs that parties incur in the process of agreeing to and following through on a bargainChapter 11club goods goods that are excludable but not rival in consumptionmon resources goods that are rival in consumption but not excludable可排他的; 包括在外的;cost –benefit analysis成本效益分析a study that pares the costs and benefits to society of providing a public goodexcludabilit y[ɪks,kluːdə' bɪlətɪ]排他性the property of a good whereby a person can be prevented from using itfree rider[释义]坐享其成，无本获利;a person who receives the benefit of a good but avoids paying for itprivategoodsgoods that are both excludable and rival in consumptionpublicgoodsgoods that are neither excludable nor rival in consumptionrivalry inconsumptio n消费竞争the property of a good whereby one person’s use diminishes other people’s useTragedy ofthe mons公共地悲剧a parable寓言; 格言; that illustrates why mon resources are used more than is desirable from the standpoint of society as a wholeChapter 12 ability-to-p ay principle[释义]负担能力原则，付税能力原则;the idea that taxes should be levied on a person according to how well that person can shoulder the burdenaverage taxratetotal taxes paid divided by total inebenefits principle the idea that people should pay taxes based on the benefits they receive from government servicesbudgetdeficit n.预算赤字;a shortfall亏空; 缺空of tax revenue from government spendingbudgetsurplus 预算结余an excess of tax revenue over government spending horizontalequity 纳税横向均the idea that taxpayers with similar abilities to pay taxes should pay the same amount等;lump-sumtax 总量税a tax that is the same amount for every personmarginaltax rate 边际税率the extra taxes paid on an additional dollar of ine progressivetax 累进税a tax for which high-ine taxpayers pay a larger fraction分数; 一小部分of their ine than do low-ine taxpayersproportional tax 比例税率a tax for which high-ine and low-ine taxpayers pay the same fraction of ineregressivetax 累退税a tax for which high-ine taxpayers pay a smaller fraction of their ine than do low-ine taxpayersverticalequity 纵向公平the idea that taxpayers with a greater ability to pay taxes should pay larger amountsChapter 13profittotal revenue minus total explicit清楚的，明确的cost averagefixed costfixed cost divided by the quantity of outputaveragetotal costtotal cost divided by the quantity of outputaveragevariable costvariable cost divided by the quantity of output constantreturns to scale the property whereby long-run average total cost stays the same as the quantity of output changesdiminishing marginalproduct 边际产量递减规律the property whereby the marginal product of an input declines as the quantity of the input increasesdiseconomies of scale 规模不经济the property whereby long-run average total cost rises as the quantity of output increaseseconomic profit total revenue minus total cost, including both explicit and implicit costsof scale 规模经济the property whereby long-run average total cost falls as the quantity of output increasesefficientscale最小有效规模the quantity of output that minimizes average total costexplicitcostsinput costs that require an outlay of money by the firmfixed costs固定成本costs that do not vary with the quantity of output produced implicitcosts隐性成本input costs that do not require an outlay of money by the firmmarginalcost边际成本the increase in total cost that arises from an extra unit of productionmarginalproductthe increase in output that arises from an additional unit of inputproduction function the relationship between the quantity of inputs used to make a good and the quantity of output of that goodprofit total revenue minus total costtotal cost the market value of the inputs a firm uses in production totalrevenue (forfirm)the amount a firm receives for the sale of its outputvariablecosts[释义]变动成本;costs that vary with the quantity of output producedChapter 14averagerevenuetotal revenue divided by the quantity soldpetitive market a market with many buyers and sellers trading identical products so that each buyer and seller is a price takermarginalrevenuethe change in total revenue from an additional unit sold sunk cost沉没成本a cost that has already been mitted and cannot be recovered Chapter 15monopoly[mə'nɒp(ə)lɪ]a firm that is the sole seller of a product without close substitutes naturalmonopoly n.垄断; 专卖; 垄断者; 专利品;a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firmspricediscriminati on the business practice of selling the same good at different prices to different customersChapter 16 monopolistic petition 垄断竞争市场a market structure in which many firms sell products that are similar but not identicaloligopoly求过于供的市场情况;a market structure in which only a few sellers offer similar or identical productsChapter 17cartel <经>卡特尔，企业联合a group of firms acting in unison ['juːnɪs(ə)n]collusion an agreement among firms in a market about quantities to produce or prices to charge<经>卡特尔，企业联合a strategy that is best for a player in a game regardless of the strategies chosen by the other playersgametheorythe study of how people behave in strategic situations GDPdeflator[di'fl eitə]GDP缩减指数a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100Nash equilibrium 纳什均衡a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosenoligopoly[,ɑlə'gɑpəli] a market structure in which only a few sellers offer similar or identical products寡头prisoners’dilemma [dɪˈlemə囚徒困境”是1950年美国兰德公司提出的博弈论模型a particular “game” between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficialChapter 18capital the equipment and structures used to produce goods and services diminishing marginalproduct 边际产量递减规律the property whereby the marginal product of an input declines as the quantity of the input increasesfactors ofproductionthe inputs used to produce goods and servicesmarginal the increase in the amount of output from an additional unit of laborproduct of laborproduction function the relationship between the quantity of inputs used to make a good and the quantity of output of that goodvalue ofthemarginal边际价值productthe marginal product of an input times the price of the outputChapter 19pensatingdifferential 补偿微分a difference in wages that arises to offset the non-monetary characteristics of different jobsdiscrimination[dɪ,skrɪmɪ'neɪʃ(ə)n] ;歧视the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristicsefficiencywages 效率工资above- equilibrium平衡，均势; 平静ˌ[ikwəˈlɪbriəm] wages paid by firms to increase worker productivityhumancapital*人力资本the knowledge and skills that workers acquire through education, training, and experiencestriken .攻击; 罢工[课，市];发现the organized withdrawal移开; 撤回of labor from a firm by aunionunion a worker association that bargains with employers over wages, benefits, and working conditions。
西方经济学(微观)重点名词解释
1、均衡价格：是商品的供给曲线与需求曲线相交时的价格,即商品的供给量与需求量相等，商品的供给价格与需求价格相等时的价格。
2、消费者剩余：消费者从商品中得到的满足程度大于其所付出的价格的部分。
因为消费者按照最后一个商品的边际效用支付价格，而在此之前的商品的边际效用都大于最后一个商品的边际效用。
3、生产者剩余:是生产者的所得大于其边际成本的部分。
因为生产者按照最后一个商品的边际成本定所有商品的价格,而在此之前的商品的边际成本都低于最后一个商品的边际成本，此低于部分是生产者的额外收入。
4、替代效应:因为一种商品的价格下降导致人们多消费这种商品,少消费其他相关商品，这就是替代效应.5、收入效应：因为商品价格的下降使得人们的实际收入增加，从而影响人们的商品消费，这就是收入效应。
6。
收入消费曲线：不同收入水平的消费可能线与相应的无差异曲线的切点的连接线,它是各种不同收入条件下，消费者的最佳购买组合的轨迹。
7.恩格尔曲线：是描述收入增加与商品需求量变化之间的关系的曲线,它反映了商品价格和其他因素不变时,收入的变化引起需求量怎样的变化。
1、蛛网理论：描绘偏离均衡点的价格和产量向均衡点靠拢的轨迹，有收敛的、发散的和循环的三种蛛网。
主要应用于周期性生产的商品.2、收入弹性:商品需求变动对收入变动的反应程度。
收入弹性大于1的是奢侈品，0~1之间的是必需品，小于0的是低档商品.3、交叉弹性：是指一种商品需求量变动对另一种商品价格变动的反应程度。
交叉弹性小于0时两种商品是互补商品，大于0时两种商品是替代商品,等于0时两种商品不相关。
4、价格弹性(需求价格弹性):是指商品需求量变动对价格变动的反应程度。
5 需求弹性是指相应于影响需求量的某一因素的变动，需求量变动的反应程度。
对应于不同的影响因素，需求弹性可以区分为需求的价格弹性、需求的收入弹性和需求的交叉弹性.需求弹性的大小通常由弹性系数加以表示。
弹性系数定义为需求量变动的百分比与影响需求的因素变动的百分比之比。
(完整word版)曼昆宏观经济学名词解释 (中英文)
宏观经济学第十五章MEASUREING A NATION’S INCOME一国收入的衡量Microeconomics the study of how households and firms make decisions and how they interact in markets.微观经济学:研究家庭和企业如何做出决策，以及他们如何在市场上相互交易。
Macroeconomics the study of economy-wide phenomena,including inflation,unemployment，and economic growth宏观经济学：研究整体经济现象，包括通货膨胀、失业和经济增长.GDP is the market value of final goods and services produced within a country in a given period of time.国内生产总值GDP：给定时期的一个经济体内生产的所有最终产品和服务的市场价值Consumption is spending by households on goods and services， with the exception of purchased of new housing.消费：除了购买新住房,家庭用于物品与劳务的支出。
Investment is spending on capital equipment inventories， and structures, including household purchases of new housing。
投资:用于资本设备、存货和建筑物的支出，包括家庭用于购买新住房的支出.Government purchases are spending on goods and services by local, state, and federal government.政府支出：地方、州和联邦政府用于物品和与劳务的支出.Net export is spending on domestically produced goods by foreigners (exports） minus spending on foreign goods by domestic residents （imports)净出口：外国人对国内生产的物品的支出(出口)减国内居民对外国物品的支出(进口）。
微观经济学名词解释和中英文对照
微观经济学名词解释和中英文对照【经济人】从事经济活动的人所采取的经济行为都是力图以自己的最小经济代价去获得自己的最大经济利益。
【需求】消费者在一定时期内在各种可能的价格水平愿意而且能够购买的该商品的数量。
【供给】生产者在一定时期内在各种价格水平下愿意并且能够提供出售的该种商品的数量。
【均衡价格】。
一种商品的均衡价格是指该种商品的市场需求量和市场供给量相等时的价格。
【供求定理】。
其他条件不变的情况下，需求变动分别引起均衡价格和均衡数量的同方向的变动，供给变动引起均衡价格的反方向变动，引起均衡数量的同方向变动。
【经济模型】。
经济模型是指用来描述所研究的经济事物的有关经济变量之间相关关系的理论结构。
【弹性】当一个经济变量发生1%的变动时，由它引起的另一个经济变量变动的百分比。
【弧弹性】表示某商品需求曲线上两点之间的需求量的变动对于价格的变动的反应程度。
【点弹性】表示需求曲线上某一点上的需求量变动对于价格变动的反应程度。
【需求的价格弹性】表示在一定时期内一种商品的需求量变动对于该商品的价格变动的反应程度。
或者说，表示在一定时期内当一种商品的价格变化百分之一时所引起的该商品的需求量变化的百分比。
【需求的交叉价格弹性】。
表示在一定时期内一种商品的需求量的变动相对于它的相关商品的价格变动的反应程度。
或者说，表示在一定时期内当一种商品的价格变化百分之一时所引起的另一种商品的需求量变化百分比。
【替代品】如果两种商品之间能够相互替代以满足消费者的某一种欲望，则称这两种商品之间存在着替代关系，这两种商品互为替代品。
【需求的收入弹性】需求的收入弹性表示在一定时期内消费者对某种商品的需求量变动对于消费者收入量变动的反应程度。
或者说，表示在一定时期内当消费者的收入变化百分之一时所引起的商品需求量变化的百分比。
【恩格尔定律】。
在一个家庭或在一个国家中，食物支出在收入中所占的比例随着收入的增加而减少。
用弹性的概念来表述它则可以是：对于一个家庭或一个国家来说，富裕程度越高，则食物支出的收入弹性就越小；反之，则越大。
微观经济学-(英文版)名词解释讲课讲稿
微观经济学-(英文版)名词解释微观经济名词解释CHAPTER 1Scarcity：the limited nature of society’s resources.Economics：the study of how society manages its scarce resources.Efficiency：the property of society getting the most it can from its scarce resources.Equity：the property of distributing economic prosperity fairly among the members of society. Opportunity cost：whatever must be given up to obtain some item.Rational people：people who systematically and purposefully do the best they can to achieve their objectives.Marginal changes：small incremental adjustments to a plan of action.Incentive：something that induces a person to act.Market economy：an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.Property rights：the ability of an individual to own and exercise control over scarce resources. Market failure：a situation in which a market left on its own fails to allocate resources efficiently. Externality：the impact of one p erson’s actions on the well-being of a bystander.Market power：the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices.Productivity：the quantity of goods and services produced from each hour of a worker’s time. Inflation：an increase in the overall level of prices in the economy.Business cycle：fluctuations in economic activity, such as employment and production. CHAPTER 2Circular-flow diagram：a visual model of the economy that shows how dollars flow through markets among households and firms.Production possibilities frontier：a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.Microeconomics：the study of how households and firms make decisions and how they interact in markets.Macroeconomics：the study of economy-wide phenomena, including inflation, unemployment, and economic growth.Positive statements：claims that attempt to describe the world as it is.Normative statements：claims that attempt to prescribe how the world should be.Chapter 3Absolute advantage：the ability to produce a good using fewer inputs than another producer Opportunity cost：whatever must be given up to obtain some itemComparative advantage：the ability to produce a good at a lower opportunity cost than another producerExports：goods produced domestically合乎国内的and sold abroadImports：goods produced abroad and sold domesticallyCHAPTER 4Market：a group of buyers and sellers of a particular good or serviceCompetitive market：a market in which there are many buyers and many sellers so that each has a negligible impact on the market priceQuantity demanded：the amount of a good that buyers are willing and able to purchase.Law of demand：the claim that, other things equal, the quantity demanded of a good falls when the price of the good rises.Demand schedule：a table that shows the relationship between the price of a good and the quantity demanded.Demand curve：a graph of the relationship between the price of a good and the quantity demanded.Normal good：a good for which, other things equal, an increase in income leads to an increase in demand.Inferior good：a good for which, other things equal, an increase in income leads to a decrease in demand.Substitutes：two goods for which an increase in the price of one good leads to an increase in the demand for the other.Complements：two goods for which an increase in the price of one good leads to a decrease in the demand for the other.Quantity supplied：the amount of a good that sellers are willing and able to sell.Law of supply：the claim that, other things equal, the quantity supplied of a good rises when the price of the good rises.Supply schedule：a table that shows the relationship between the price of a good and the quantity supplied.Supply curve：a graph of the relationship between the price of a good and the quantity supplied. Equilibrium：a situation in which the price has reached the level where quantity supplied equals quantity demanded.Equilibrium price：the price that balances quantity supplied and quantity demanded. Equilibrium quantity：the quantity supplied and the quantity demanded at the equilibrium price. Surplus：a situation in which quantity supplied is greater than quantity demanded.Shortage：a situation in which quantity demanded is greater than quantity supplied.Law of supply and demand：the claim that the price of any good adjusts to bring the supply and demand for that good into balance.CHAPTER 5Elasticity：a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants.Price elasticity of demand：a measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price.Total revenue：the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold.Income lasticity of demand： a measure of how much the quantity demanded of a good responds to a change in consumers’ income, computed as the percentage change in quantity demanded divided by the percentage change in income.Crossprice elasticity of demand： a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in the quantity demanded of the first good divided by the percentage change in the price of the second good.Price elasticity of supply：a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in price.CHAPTER 6Price ceiling：a legal maximum on the price at which a good can be sold.Price floor：a legal minimum on the price at which a good can be sold.Tax incidence：the manner in which the burden of a tax is shared among participants in a market. CHAPTER 7Welfare economics：the study of how the allocation of resources affects economic well-being. Willingness to pay：the maximum amount that a buyer will pay for a good.Consumer surplus：a buyer’s willingness to pay minus the amount the buyer actually pays. Cost：the value of everything a seller must give up to produce a good.Producer surplus：th e amount a seller is paid for a good minus the seller’s cost.Eficiency：the property of a resource allocation of maximizing the total surplus received by all members of society.Euity：fairness of the distribution of well-being among the members of society.CHAPTER 10Externality：the uncompensated impact of one person’s actions on the well-being of a bystander.Internalizing an externality：altering incentives so that people take account of the external effects of their actions.Coase theorem：the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own.Transaction costs：the costs that parties incur in the process of agreeing and following through on a bargain.Correct tax：a tax designed to induce decision makers to take account of the social costs that arise from a negative externality.CHAPTER 16Oligopoly：a market structure in which only a few sellers offer similar or identical products. Monopolistic competition：a market structure in which many firms sell products that are similar but not identical.Collusion：an agreement among firms in a market about quantities to produce or prices to charge. Cartel：a group of firms acting in unison.Nash equilibrium：a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen.Game theory：the study of how people behave in strategic situations.Prisoners’dilemma：a particular "game" between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial.Dominant strategy：a strategy that is best for a player in a game regardless of the strategies chosen by the other players.CHAPTER 19Human capital：the accumulation of investments in people, such as education and on-the-job trainingUnion：a worker association that bargains with employers over wages, benefits, and working conditionsStrike：the organized withdrawal of labor from a firm by a unionEfficiency wages：above- equilibrium wages paid by firms to increase worker productivityDiscrimination：the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics。
微观经济学原理(第七版) 曼昆 名词解释(带英文)
微观经济学原理曼昆名词解释稀缺性（scarcity）：社会资源的有限性。
经济学(economics)：研究社会如何管理自己的稀缺资源。
效率(efficiency)：社会能从其稀缺资源中得到最多东西的特性。
平等(equality)：经济成果在社会成员中公平分配的特性。
机会成本(opportunity cost)：为了得到某种东西所必须放弃的东西。
理性人(rational people)：系统而有目的地尽最大努力实现起目标的人。
边际变动(marginal change)：对行动计划微小的增量调整。
激励(incentive)：引起一个人做出某种行为的某种东西。
市场经济(market economy)：当许多企业和家庭在物品与劳务市场上相互交易时，通过他们的分散决策配置资源的经济。
产权（property rights）：个人拥有并控制稀缺资源的能力。
市场失灵(market failure)：市场本身不能有效配置资源的情况。
外部性(externality)：一个人的行为对旁观者福利的影响。
市场势力(market power)：一个经济活动者（或经济活动者的一个小集团）对市场价格有显著影响的能力。
生产率(productivity)：一个工人一小时所生产的物品与劳务量。
通货膨胀(inflation)：经济中物价总水平的上升。
经济周期(business cycle)：就业和生产等经济活动的波动（就是生产这类经济活动的波动。
）循环流向图(circular-flow diagram)：一个说明货币如何通过市场在家庭与企业之间流动的直观经济模型。
生产可能性边界(production possibilities frontier)：表示一个经济在可得到的生产要素与生产技术既定时所能生产的产量的各种组合的图形。
微观经济学(microeconomics)：研究家庭和企业如何做出决策，以及它们在市场上的相互交易。
宏观经济学(macroeconomics)：研究整体经济现象，包括通货膨胀、失业和经济增长。
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微观经济名词解释CHAPTER 1Scarcity : the limited nature of society ’ s resources.Economics : the study of how society manages its scarce resources.Efficiency : the property of society getting the most it can from its scarce resources.Equity : the property of distributing economic prosperity fairly among the members of society.Opportunity cost : whatever must be given up to obtain some item.Rational : systematically and purposefully doing the best you can to achieve your objectives.Marginal changes : small incremental adjustments to a plan of action.Incentive : something that induces a person to act.Market economy : an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.Property rights : the ability of an individual to own and exercise control over scarce resources.Market failure : a situation in which a market left on its own fails to allocate resources efficiently.Externality : the impact of one person ’ s actions on the well-being of a bystander.Market power : the ability of a single economic actor (or small group of actors) to have a substantial influence on market prices.Productivity : the quantity of goods and services produced from each hour of a worker ’ s time. Inflation : an increase in the overall level of prices in the economy.Phillips curve : a curve that shows the short-run tradeoff between inflation and unemployment.Business cycle : fluctuations in economic activity, such as employment and production.CHAPTER 2Circular-flow diagram : a visual model of the economy that shows how dollars flow through markets among households and firms.Production possibilities frontier : a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.Microeconomics: the study of how households and firms make decisions and how they interact in markets. Macroeconomics: the study of economy-wide phenomena, including inflation, unemployment, and economicgrowth.Positive statements Positive statements :claims that attempt to describe the world as it is. :claims that attempt to describe the world as it is.CHAPTER 4Quantity demanded : the amount of a good that buyers are willing and able to purchase.Law of demand : the claim that, other things equal, the quantity demanded of a good falls when the price of the good rises.Demand schedule : a table that shows the relationship between the price of a good and the quantity demanded. Demand curve : a graph of the relationship between the price of a good and the quantity demanded.Normal good : a good for which, other things equal, an increase in income leads to an increase in demand. Inferior good : a good for which, other things equal, an increase in income leads to a decrease in demand.Substitutes : two goods for which an increase in the price of one good leads to an increase in the demand for the other.Complements : two goods for which an increase in the price of one good leads to a decrease in the demand forthe other.quantity supplied : the amount of a good that sellers are willing and able to sell.Law of supply: the claim that, other things equal, the quantity supplied of a good rises when the price of thegood rises.Supply schedule : a table that shows the relationship between the price of a good and the quantity supplied.Supply curve : a graph of the relationship between the price of a good and the quantity supplied.Equilibrium : a situation in which the price has reached the level where quantity supplied equals quantity demanded.Equilibrium price: the price that balances quantity supplied and quantity demanded.Equilibrium quantit y : the quantity supplied and the quantity demanded at the equilibrium price.Surplus : a situation in which quantity supplied is greater than quantity demanded.Shortage : a situation in which quantity demanded is greater than quantity supplied.Law of supply and demand : the claim that the price of any good adjusts to bring the supply and demand for that good into balance.CHAPTER 5Elasticity a measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants.Price elasticity of demand: a measure of how much the quantity demanded of a good responds to a change inthe price of that good, computed as the percentage change in quantity demanded divided by the percentage change in price.Total revenue : the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold.Income lasticity of demand : a measure of how much the quantity demanded of a good responds to a changein consumers ’income, computed as the percentage change in quantity demanded divided by the percentage change in income.Crossprice elasticity of demand : a measure of how much the quantity demanded of one good responds to a change in the price of another good, computed as the percentage change in the quantity demanded of the first good divided by the percentage change in the price of the second good.Price elasticity of supply : a measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage changein price.CHAPTER 6Price ceiling : a legal maximum on the price at which a good can be sold.Price floor : a legal minimum on the price at which a good can be sold.Tax incidence: the manner in which the burden of a tax is shared among participants in a market.CHAPTER 7Welfare economics : the study of how the allocation of resources affects economic well-being.Willingness to pay : the maximum amount that a buyer will pay for a good.Consumer surplus : a buyer’ s willingness to pay minus the amount the buyer actually pays. Cost： the value of everything a seller must give up to produce a good.Producer surplus : the amount a seller is paid for a good minus the seller Eficiency : the property of a resource allocation of maximizing the total society.Euity :fairness of the distribution of well-being among the members of society.’ s cost. surplus received by all members ofCHAPTER 8Deadweight loss :the fall in total surplus that results from a market distortion, such as a tax. CHAPTER 10Externality : the uncompensated impact of one person Internalizing an externality : altering incentives so that’ s actions on-beingthe wellofabystander. people take account of the external effects of theiractions.Coase theorem : the proposition that if private parties can bargain without cost over the allocation of resources,they can solve the problem of externalities on their own.Transaction costs : the costs that parties incur in the process of agreeing and following through on a bargain.CHAPTER11Excludability: the property of a good whereby a person can be prevented from using it.Rivalry in consumption : the property of a good whereby one person’ s use diminishes other people’ s Private goods : goods that are both excludable and rival.Public goods : goods that are neither excludable nor rival.Common resources : goods that are rival but not excludable.Free rider : a person who receives the benefit of a good but avoids paying for it.Costbenefit analysis : a study that compares the costs and benefits to society of providing a public good. Tragedyof the commons : a parable that illustrates why common resources get used more than is desirable from thestandpoint of society as a whole.CHAPTER 13Total revenue : the amount a firm receives for the sale of its output.Total cost : the market value of the inputs a firm uses in production.profit : total revenue minus total cost.explicit costs : input costs that require an outlay of money by the firm.Implicit costs : input costs that do not require an outlay of money by the firm.Economic profit : total revenue minus total cost, including both explicit and implicit costs.Accounting profit : total revenue minus total explicit cost.Production function : the relationship between quantity of inputs used to make a good and the quantity of output ofthat good.Marginal product : the increase in output that arises from an additional unit of input.Diminishing marginal product : the property whereby the marginal product of an input declines as the quantityof the input increases.Fixed costs: costs that do not vary with the quantity of output produced.Variable costs : costs that do vary with the quantity of output produced.Average total cost : total cost divided by the quantity of output.Average fixed cost : fixed costs divided by the quantity of output.Average variable cost : variable costs divided by the quantity of output.Marginal cost : the increase in total cost that arises from an extra unit of production.Efficient scale : the quantity of output that minimizes average total cost.Economies of scale : the property whereby long-run average total cost falls as the quantity of output increases. Diseconomies of scale: the property whereby long-run average total cost rises as the quantity of output increases.Constant returns to scale : the property whereby long-run average total cost stays the same as the quantity of output changes.CHAPTER 14Competitive market : a market with many buyers and sellers trading identical products so that each buyer andseller is a price taker.Average revenue : total revenue divided by the quantity sold.Marginal revenue : the change in total revenue from an additional unit sold.Sunk cost: a cost that has been committed and cannot be recovered.CHAPTER 15Monopoly a firm that is the sole seller of a product without close substitutes.Natural monopoly : a monopoly that arises because a single firm can supply a good or service to an entire marketat a smaller cost than could two or more firms.Price discrimination : the business practice of selling the same good at different prices to different customers.CHAPTER 16Oligopoly : a market structure in which only a few sellers offer similar or identical products.Monopolistic competition : a market structure in which many firms sell products that are similar but not identical.Collusion : an agreement among firms in a market about quantities to produce or prices to charge.Carte : a group of firms acting in unison.Nash equilibrium : a situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen.Game theory : the study of how people behave in strategic situations.Prisoners ’dilemma : a particular "game" between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial.Dominant strategy : a strategy that is best for a player in a game regardless of the strategies chosen by the other players.CHAPTER 17Monopolistic competition : a market structure in which many firms sell products that are similar but not identical.。