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,opposedtounlimitedhumanneedsdiver

2、sityintermsofeconomicresourcesquantityisalwaysrelativelyinsufficient,whenaccesstopaytheprice.Normativeanalysis--thestudyofwhateconomicactivitiesshouldbeandhowsocialandeconomicproblemsshouldbesolved.Empiricalanalysisdescribeswhateconomicphenomenaareandhowsocialandeconom

3、icproblemsareactuallysolved.Demandthequantityofacommodityorservicethatconsumersarewillingandabletopurchaseatacertainprice.Changeindemandthechangeindemandforacommoditycausedbythechangeinthepriceofacommodity.Thechangeofdemandlevel--thechangeofdemandcausedbyotherfactorsun

4、dertheconditionofconstantcommodityprice.Lawofdemand--thechangingrelationshipbetweenthepriceanddemandofcommodities.Supplythequantitythataproduceriswillingandabletoprovideforacommodityorserviceatagivenmomentandatvariouspossiblepricelevels.Lawofsupply--commoditypriceispro

5、portionaltosupply.Equilibriumprice--thepriceofacommodityinwhichthedemandpriceisconsistentwiththesupplyprice,thatis,thequantityofdemandequalsthequantitysupplied.Equilibriumquantitythequantityofsupplyanddemandwhendemandpriceequalssupplypriceiscalledequilibriumquantity.Pr

6、iceelasticityofdemand-thechangeinthepriceofacommodityorserviceduetoitsowndemandwhenotherconditionsremainunchanged.Crosspriceelasticityofdemand-thedegreetowhichanothercommodityorlabordemandchangeswhenthepriceofacommodityorservicechangesundertheconditionthatotherconditio

7、nsremainunchanged.Demandincomeelasticity-thechangeofconsumerincomeleadstothechangeofdemandforacertaincommodityorserviceundertheconditionthatotherconditionsremainunchanged.Cobwebmodel--adynamicanalysistheoryforexplainingthedifferentfluctuationsofgoodswithalongerperiodof

8、productionwhentheyloseequilibriumbyusingtheelasticityprinciple.Thestabilityconditionofcobwebisthatsupplyelasticityise