概念题 20道
1. What is absolute advantage? (什么是绝对优势?)
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It is the ability of an individual, firm, or country to produce more of a good or service than competitors using the same amount of resources. 它是指个人、公司或国家在使用相同资源的情况下,生产更多商品或服务的能力。2. What is comparative advantage? (什么是比较优势?)
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It exists when an individual, firm, or country can produce a good at a lower opportunity cost than others. 当个人、公司或国家生产某种商品的机会成本低于其他参与者时,就存在比较优势。3. What is opportunity cost? (什么是机会成本?)
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The value of the next-best alternative that is forgone when making a choice. 在做出选择时所放弃的次优选择的价值。4. What is marginal cost? (什么是边际成本?)
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The additional cost incurred from producing one more unit of a good or service. 生产额外一单位商品或服务所增加的成本。5. What is marginal benefit? (什么是边际效益?)
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The additional satisfaction or utility gained from consuming one more unit of a good or service. 消费一单位额外商品或服务所获得的额外满足感或效用。6. What is a production possibility frontier (PPF)? (什么是生产可能性边界?)
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A curve showing all possible combinations of two goods that can be produced with given resources and technology. 显示在给定资源和技术下,两种商品所有可能组合的曲线。7. What does a bowed-out PPF indicate? (向外凸的生产可能性边界表示什么?)
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Increasing opportunity costs as production of one good rises. 一种商品产量增加时,机会成本递增。8. What is a traditional economy? (什么是传统经济?)
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An economy organized by customs and traditions, often with occupations inherited. 以习俗和传统组织的经济体系,职业通常世袭。9. What is a command economy? (什么是计划经济?)
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An economy where the government decides production, prices, wages, and methods. 政府决定生产、价格、工资和生产方法的经济体系。10. What is a market economy? (什么是市场经济?)
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A decentralized economy where private individuals or firms own resources and produce based on demand. 决策分散、私人或企业拥有资源并按需求生产的经济体系。11. What is a mixed economy? (什么是混合经济?)
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An economy combining market and command elements with some government intervention. 结合市场与计划经济元素,政府有一定干预的经济体系。12. What is scarcity? (什么是稀缺性?)
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Limited resources relative to unlimited wants, forcing choices. 资源有限而需求无限,因此必须做出选择。13. What is rational choice? (什么是理性选择?)
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Decision-making that compares costs and benefits to maximize net benefit. 通过比较成本与收益以实现最大净效益的决策方式。14. What are incentives? (什么是激励?)
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Rewards or penalties that motivate individuals to take certain actions. 促使个体采取特定行动的奖励或惩罚。15. What is a positive incentive? (什么是正向激励?)
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An incentive that encourages a certain action, e.g., bonuses. 鼓励某种行动的激励,例如奖金。16. What is a negative incentive? (什么是负向激励?)
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An incentive that discourages a certain action, e.g., taxes. 抑制某种行动的激励,例如税收。17. What is division of labor? (什么是劳动分工?)
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Dividing production into separate tasks for different workers to increase efficiency. 将生产划分为不同任务,由不同工人完成以提高效率。18. What is specialization? (什么是专业化?)
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Focus on tasks or products one is most efficient at to increase productivity. 专注于最擅长的任务或产品以提高生产力。19. What is marginal analysis? (什么是边际分析?)
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Comparing additional benefits and costs of one more unit of action. 比较增加一单位行动的额外收益与成本。20. What is the relationship between opportunity cost and PPF? (机会成本与PPF的关系是什么?)
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The slope of the PPF represents the opportunity cost of producing one good in terms of the other. PPF的斜率表示生产一种商品以牺牲另一种商品的机会成本。应用题 20道
1. Abby has 2 hours to either study or watch movies. If she studies, she can improve her grade by 20 points per hour. If she watches movies, she gains 3 units of entertainment per hour. How should she allocate her time? (Abby有2小时可以用来学习或看电影。如果学习,她每小时可以提高成绩20分;如果看电影,她每小时获得3单位娱乐。她应如何分配时间?)
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Study 2 hours: 20 × 2 = 40 > 3 × 2 = 6; maximize net benefit. 学习2小时:20×2=40 > 3×2=6;最大化净效益。2. A factory produces either pins or pencils. Producing 100 pins costs 20 pencils, producing 200 pins costs 50 pencils. What is the opportunity cost of producing 200 pins? (工厂生产针或铅笔。生产100根针放弃20支铅笔,生产200根针放弃50支铅笔。生产200根针的机会成本是多少?)
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Additional pins = 100; additional pencils forgone = 50-20 = 30; opportunity cost = 30 pencils. 增加针 =100;额外放弃铅笔=50-20=30;机会成本=30支铅笔。3. Country A produces 3000 laptops and 18,000 phones or 4000 laptops and 10,000 phones. What is the opportunity cost of producing 4000 laptops? (A国可生产3000笔记本/18,000手机或4000笔记本/10,000手机。生产4000笔记本的机会成本是多少?)
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Phones forgone = 18,000-10,000 = 8,000. 放弃手机=18,000-10,000=8,000。4. Stephanie has $500. Shoes cost $50, dresses $100. She wants 1 more dress. Opportunity cost? (Stephanie有500美元,鞋50美元/双,裙100美元/条。想买1条裙子。机会成本?)
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3rd dress costs $100 = 2 shoes; opportunity cost = 2 shoes. 第3条裙子100美元=2双鞋;机会成本=2双鞋。5. Colin produces 1 Pokemon card at the cost of 2 fidget spinners. He makes 10 cards. How many spinners forgone? (Colin每生产1张Pokemon卡放弃2个指尖陀螺。生产10张卡放弃多少陀螺?)