围观(国外英文资料).doc

围观(国外英文资料) Western economics (microeconomic section) N. (5 * 3 = 15) Opportunity cost: the opportunity cost of one unit of a commodity production refers to the producers have to give up using the same production factors in other production applications can get the highest income. (P156) The supply and demand theorem: in the case of other conditions, the change of demand will result in the same direction of equilibrium price and equilibrium quantity. The change of supply causes a change in the opposite direction of the equilibrium price, which causes the change in the same direction of the equilibrium price. (P32) Law of diminishing marginal utility: in a certain period of time, the consumption of other commodities remain the same number of conditions, with the increase of consumers of a commodity consumption, consumers from the goods from the continuous increase in the consumption of each unit of utility diminishing marginal utility is increased. (P74) Indifference curve: the indifference curve is the combination of the two goods that the consumer prefers the same. Or, it is the combination of two goods that represent the same level of utility or level of satisfaction that can be given to consumers. (P82) Producer surplus: producer surplus refers to the manufacturer to provide a certain quantity of a product when the actual total payment and willing to accept the difference between the minimum total payment. (P196) Price elasticity of demand: the price elasticity of demand means that the demand for a commodity varies in response to the price of the commodity in a given period of time. Or, in a certain period of time, the percentage of the change in the quantity demanded of the commodity that is caused by the price of a commodity for a period of time. (P38 lightning) Consumer surplus: the consumer surplus is the consumer when buying a certain quantity of a commodity is willing to pay the highest total price and the actual payment of the difference between the total p