经济学原理名词解释.doc

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1、I.Definitions1.opportunitycost(P6)Whatevermustbegivenuptoobtainsomeitem.2.marketeconomy(P9)Aneconomythatallocatesresourcesthroughthedecentralizeddecisionsofmanyfirmsandhouseholdsastheyinteractinmarketsforgoodsandservices.3.lawofdemand(P65)Theclaimthat,otherthingsequal,thequantit

2、ydemandedofagoodfallswhenthepriceofthegoodrises.4.normalgood(P68)Agoodforwhich,otherthingsequal,anincreaseinincomeleadstoanincreaseindemand.5.inferiorgood(P68)Agoodforwhich,otherthingsequal,anincreaseinincomeleadstoadecreaseindemand.6.priceelasticityofdemand(P90)Ameasureofhowmuc

3、hthequantitydemandedofagoodrespondstoachangeinthepriceofthatgood,computedasthepercentagechangeinquantitydemandeddividedbythepercentagechangeinprice.7.priceceiling(P114)Alegalmaximumonthepriceatwhichagoodcanbesold.8.pricefloor(P114)Alegalminimumonthepriceatwhichagoodcanbesold.9.c

4、onsumersurplus(P139)Theamountabuyeriswillingtopayforagoodminustheamountthebuyeractuallypaysforit.10.producersurplus(P144)Theamountasellerispaidforagoodminustheseller’scostofprovidingit.11.explicitcosts(P269)Inputcoststhatrequireanoutlayofmoneybythefirm.12.implicitcosts(P269)Inpu

5、tcoststhatdonotrequireanoutlayofmoneybythefirm.13.economicsofscale(P281)Thepropertywherebylong-runaveragetotalcostfallsasthequantityofoutputincreases.14.diseconomiesofscale(P281)Thepropertywherebylong-runaveragetotalcostrisesasthequantityofoutputincreases.15.naturalmonopoly(P314

6、)Amonopolythatarisesbecauseasinglefirmcansupplyagoodorservicetoanentiremarketatasmallercostthancouldtwoormorefirms.16.indifferencecurvesAnindifferencecurveisacurvethatshowsconsumptionbundlesthatgivetheconsumerthesamelevelofsatisfaction.17.budgetconstraintThebudgetconstraintshows

7、thevariouscombinationsofgoodstheconsumercanaffordgivenhisorherincomeandthepricesofthetwogoods.18.GDPthemarketvalueofallfinalgoodsandservicesproducedwithinacountryinagivenperiodoftime.(p510)19.CPIameasureoftheoverallcostofthegoodsandservicesboughtbyatypicalconsumer.(p530)20.aggre

8、gate-demandcurveacurvethatshowsthequantityofgoo