Section outline

  • UNIT 1
    ::联合一股

    free enterprise system – economic system characterized by private ownership of businesses operated for profit with economic freedom for both consumers and producers
    ::自由企业体系-经济体系的特点是私人拥有经营企业的私人所有权,消费者和生产者都享有经济自由的利润

    scarcity – condition in which there are not enough resources available to produce everything that individuals demand
    ::- 缺乏资源,没有足够的资源来生产个人需要的一切产品

    opportunity cost – the value of goods and services that are given up in order to obtain an alternative good or service
    ::为获得替代货物或服务而放弃的货物和服务的价值

    factors of production – the resources needed to produce goods and services, including land, labor, capital, and entrepreneurship
    ::生产要素 -- -- 生产产品和服务所需资源,包括土地、劳动力、资本和创业

    resources – supplies of something of value
    ::资源 -- -- 有价值物品的供应

    economic system – process created to manage the production, consumption, and distribution of goods and services
    ::管理商品和服务的生产、消费和分销的过程

    circular flow model – a visual representation showing the relationship between the factor market and the product market
    ::圆环流动模式-显示要素市场与产品市场之间关系的视觉说明

    UNIT 2
    ::联合2号单位2

    market – an arrangement that brings sellers and buyers together for economic transactions
    ::市场 -- -- 将买卖双方联合起来进行经济交易的安排

    supply – the total amount of goods and services offered for sale at various prices
    ::供应 -- -- 以各种价格出售的货物和服务总额

    demand – the total amount of goods and services consumers are willing to buy at various prices
    ::消费者愿意以不同价格购买的商品和服务总量

    equilibrium price – the price at which the quantity supplied in the market matches the quantity demanded in the market
    ::平衡价格-市场供应量与市场需求量相符的价格

    absolute advantage – a condition that occurs when someone can produce goods and services cheaper than other producers
    ::绝对绝对优势——当某人能够生产比其他生产者更廉价的商品和服务时出现的情况

    comparative advantage – a condition that occurs when someone can produce at a lower opportunity cost than other producers
    ::比较优势——当某人能够以低于其他生产者的机会成本生产时出现的情况

    specialization – the development of skills and knowledge associated with one job or one area of expertise
    ::发展与一项工作或一个专业领域有关的技能和知识

    pure competition – a market structure characterized by many producers supplying the same product and very few barriers to entry in the market
    ::纯粹竞争——一种市场结构,其特点是许多生产者供应同样的产品,进入市场的障碍很少。

    monopolistic competition – a market structure characterized by many producers supplying similar but varied products with few barriers to entry to the market
    ::垄断垄断竞争-市场结构的特点是,许多生产商供应类似但种类繁多的产品,进入市场的障碍很少的市场结构

    oligopoly – a market structure characterized by very few producers supplying similar products with high barriers to entry in the market
    ::寡头垄断 — — 市场结构的特点是,很少生产者提供类似的产品,对进入市场设置高壁垒的类似产品。

    monopoly – a market structure characterized by one producer with a unique product and very high barriers to entry in the market
    ::垄断 - 市场结构的特征是,一个生产者拥有独特的产品,进入市场的壁垒非常高

    UNIT 3
    ::联合第3号股

    entrepreneurship – the willingness and innovation needed to risk starting a business
    ::创业 -- -- 创业风险所需的意愿和创新

    sole proprietorship – a business owned and managed by a single individual
    ::独资独资企业 -- -- 由单一个人拥有和管理的企业

    partnership – a business owned and managed by two or more individuals as co-owners
    ::合伙企业 -- -- 由两人或多人作为共同所有者拥有和管理的企业

    corporation – a business owned by shareholders and managed by directors and executives
    ::由股东拥有并由董事和行政人员管理的企业

    business cycle – a repetitive pattern of growth and decline in economic activity
    ::商业周期 -- -- 经济活动增长和下降的重复模式

    inflation – a general increase in the price of goods and services
    ::通货膨胀 -- -- 货物和服务价格普遍上涨

    Gross Domestic Product – the market value of all goods and services produced in a country during a specific time period
    ::国内生产总值 -- -- 一国在特定时期内生产的所有商品和服务的市场价值

    unemployment – condition in which those seeking jobs are unable to find jobs
    ::失业 -- -- 求职者无法找到工作的状况

    productivity – a measure of the efficiency of the production of goods and services
    ::衡量商品和服务生产效率的生产率

    UNIT 4
    ::第4联合股

    monetary policy – strategy taken by a central banking system to regulate the supply of money
    ::中央银行系统管制货币供应的战略

    fiscal policy – strategy taken by public officials regarding taxing and spending
    ::公职人员在税收和开支方面采取的财政政策战略

    reserve requirement – the amount of money banks are required to keep and not lend out
    ::储备金需要 -- -- 要求银行保持和不放贷的金额

    federal funds rate – the interest rate banks charge each other on loans
    ::联邦基金利率 — — 利率银行相互收取贷款

    discount rate – the interest rate the Federal Reserve Bank charges commercial banks for loans
    ::贴现率-联邦储备银行向商业银行收取贷款的利率

    open market operations – a Federal Reserve practice of purchasing and selling government bonds intended to take money out or put money into the economy quickly
    ::开放市场业务-美联储买卖政府债券的做法,其目的是迅速取出钱或将钱投入经济

    currency – a physical item, such as bills and coins, used as a medium of exchange
    ::货币 -- -- 实物项目,如票据和硬币,用作交换媒介

    revenue – money raised by the government or money received by a firm doing business
    ::收入 -- -- 政府筹集的资金或经商公司收到的资金

    expenditure – a payment, cost, or the amount of money spent
    ::支出 -- -- 付款、费用或支出金额

    UNIT 5
    ::联合联合股5 5

    investment – providing money or capital to an enterprise with the expectation of making a financial gain
    ::- 向企业提供金钱或资本,期望获得资金收益

    compound interest – interest which is calculated on the initial principle and on the accumulated interest
    ::复利利息 -- -- 利息,按最初原则和累计利息计算

    credit score – a number based on an individual’s credit history that indicates how much of a credit risk he may be
    ::信用得分 - - 以个人信用历史为基础的数字,该数字表明他可能面临多大的信用风险

    risk/return relationship – the relationship between the risk of an investment and the expected return of the investment i
    ::风险/回报关系-投资风险与投资预期回报之间的关系i

    interest – a payment made for the use of borrowing money
    ::利息 -- -- 为使用借款付款

    open end credit – a line of credit that can be used repeatedly, within an established borrowing limit
    ::开放式最终信贷 -- -- 可在既定借款限额内反复使用的信贷额度

    closed end credit – a loan for a set amount that requires regular payments at certain intervals
    ::最终结束信贷 -- -- 固定数额的贷款,要求定期定期支付,但有一定间隔

    secured loans – a loan that is obtained by offering an asset as collateral to ensure repayment of the loan
    ::附担保贷款 -- -- 以提供资产作为担保担保获得的贷款,以确保偿还贷款

    unsecured loans – a loan that is obtained without the use of collateral
    ::无担保贷款 -- -- 不使用抵押品而获得的贷款

    budget – an itemized plan of income and expenses for a given period of time
    ::预算 -- -- 特定时期的逐项收支计划

    Freedom Week
    ::自由周

    Property Rights -  Property rights are theoretical socially-enforced constructs in economics for determining how a resource or economic good is used and owned. Resources can be owned by individuals, associations or governments.
    ::产权-产权是经济学中理论上的社会强制结构,用以确定资源或经济商品如何使用和拥有,资源可以由个人、协会或政府拥有。