备考丨A Level 与 IGCSE 经济课必考知识点汇总

 离2018年5月的A level全球大考还不到100天,这个时候你肯定需要一份复习宝典。下面就是老师特地为大家开列的一份经济学必考知识点的汇总。

 

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必考定义一览表

 

Basic economic problem: choice and the allocation of resources

 

1.Scarcity: a situation where there is not enough to satisfy everyone’s wants.

 

2.The economic problem: unlimited wants exceed scarce resources.

 

3.Factors of production: the economic resources of capital, enterprise, labour and land.

 

4.Land: gifts of nature available for production.

 

5.Labour: all human effort mental and physical involved in producing goods and services.

 

6.Enterprise:  risk bearing and decision making in business.

 

7.Occupationally mobile: capable of changing use.

 

8.Geographically immobile: incapable of moving from one location to another location.

 

9.Capital: humanmade goods used in production.

 

10.Investment: spending on capital goods.

 

11.Depreciation: the value of replacing capital.

 

12.Productivity: output per worker hour.

 

13.Opportunity cost: the next best alternative for gone.

 

14.Economic good: a product which requires resources to produce it and therefore has an opportunity cost.

 

15.Free good: a product which does not require resources to produce it and therefore has an opportunity cost.

 

16.Production possibility curve: a curve that shows the maximum output of two types of products and combination of those products that can be produced with existing resources and technology.

 

17.A planned economy: an economy where the government makes the crucial decisions, land and capital are state-owned and resources are allocated by directives.

 

18.A market economy: an economy where consumers determine what is produced, resources are allocated by the price mechanism and land and capital are privately owned.

 

19.A mixed economy: an economy in which both the private and public sectors play an important role.

 

 

The allocation of resources: how the market works; market failure

 

1.Demand: the willingness and ability to buy a product.

 

2.Market demand: total demand for a product.

 

3.An extension indemand: a rise in the quantity demanded caused by a fall in the price of the product itself.

 

4.A contraction indemand: a fall in the quantity demanded caused by a rise in the price of the product itself.

 

5.Supply: the willingness and ability to sell a product.

 

6.Market supply: total supply of the product.

 

7.An extension insupply: a rise in the quantity supplied caused by a rise in the price of the product itself.

 

8.A contraction insupply: a fall in the quantity supplied caused by a fall in the price of the product itself.

 

9.Equilibrium price: the price where demand and supply are equal.

 

10.Disequilibrium: a situation where demand and supplyare not equal.

 

11.Changes in demand: shifts in the demand curve.

 

12.An increase in demand: a rise in demand at any given price, causing the demand curve to shift to the right.

 

13.A decrease in demand: a fall in demand at any given price, causing the demand curve to shift to the left.

 

14.Disposable income: Income after income tax and national insurance contributions have been deducted.

 

15.Normal good: a product whose demand increases when income increases and decreases when income falls.

 

16.Inferior good: a product whose demand decreases when income increases and increases when income falls.

 

17.Substitute: a product that can be used in place of another.

 

18.Compliment: a product that is used in conjunction with another product.

 

19.Ageing population: an increase in the average age of the population.

 

20.Birth rate: the number of life birth per thousand of the population in a year.

 

21.An increase in supply: a rise in supply at any given price, causing the supply curve to shift to the right.

 

22.A decrease in supply: a fall in supply at any given price causing the supply curve to shift to the left.

 

23.Changes in supply: changes in supply conditions causing shifts in the supply curve.

 

24.Unit cost: the average cost of production. It is found by dividing total cost by output.

 

25.Improvements in technology: advances in the quality of capital goods and methods of production.

 

26.A tax: a payment to the government.

 

27.Indirect taxes: taxes on goods and services.

 

28.A subsidy: a payment by a government to encourage the production or consumption of a product.

 

29.Price elasticity of demand: a measure of the responsiveness of demand to a change in price.

 

30.Private costs: costs borne by those directly consuming or producing a product.

 

31.Private benefits: benefits received by those directly consuming or producing a product.

 

32.External costs: costs imposed on those who are not involved in the consumption and production activities of others directly.

 

33.External benefits: benefits enjoyed by those whoare not involved in the consumption and production activities of others directly.

 

34.Social costs: the total costs to a society of an economic activity.

 

35.Social benefits: the total benefits to a society of an economic activity.

 

36.Cost benefits analysis: a method of assessing investment projects which takes into account, social costs and benefits

 

 

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