宏观经济学名词解释（explanation of terms in macroeconomics）

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1、宏观经济学名词解释（Explanationoftermsinmacroeconomics）ExplanationofmacroandmicroeconomicstermsMicrocosmic：Economics-asocialsciencethatstudieshowtoachieveoptimalallocationofscarceresourcesinordertomaximizehumansatisfaction.Thescarcityofresources,opposedtounlimitedhumanneedsdiversityintermsofeconomicresourcesq

2、uantityisalwaysrelativelyinsufficient,whenaccesstopaytheprice.Normativeanalysis--thestudyofwhateconomicactivitiesshouldbeandhowsocialandeconomicproblemsshouldbesolved.Empiricalanalysisdescribeswhateconomicphenomenaareandhowsocialandeconomicproblemsareactuallysolved.Demandthequantityofacommodityorser

3、vicethatconsumersarewillingandabletopurchaseatacertainprice.Changeindemandthechangeindemandforacommoditycausedbythechangeinthepriceofacommodity.Thechangeofdemandlevel--thechangeofdemandcausedbyotherfactorsundertheconditionofconstantcommodityprice.Lawofdemand--thechangingrelationshipbetweenthepricean

4、ddemandofcommodities.Supplythequantitythataproduceriswillingandabletoprovideforacommodityorserviceatagivenmomentandatvariouspossiblepricelevels.Lawofsupply--commoditypriceisproportionaltosupply.Equilibriumprice--thepriceofacommodityinwhichthedemandpriceisconsistentwiththesupplyprice,thatis,thequanti

5、tyofdemandequalsthequantitysupplied.Equilibriumquantitythequantityofsupplyanddemandwhendemandpriceequalssupplypriceiscalledequilibriumquantity.Priceelasticityofdemand-thechangeinthepriceofacommodityorserviceduetoitsowndemandwhenotherconditionsremainunchanged.Crosspriceelasticityofdemand-thedegreetow

6、hichanothercommodityorlabordemandchangeswhenthepriceofacommodityorservicechangesundertheconditionthatotherconditionsremainunchanged.Demandincomeelasticity-thechangeofconsumerincomeleadstothechangeofdemandforacertaincommodityorserviceundertheconditionthatotherconditionsremainunchanged.Cobwebmodel--ad

7、ynamicanalysistheoryforexplainingthedifferentfluctuationsofgoodswithalongerperiodofproductionwhentheyloseequilibriumbyusingtheelasticityprinciple.Thestabilityconditionofcobwebisthatsupplyelasticityise