商槪(商学精要)期末重点整理版.doc

Chapter 1 Define business and profits Business----- An organization that provides goods and services to earn profits Profits: The positive difference between revenues and expenses rewards for businesspeople who take the risks 2. Distinguish between business and not-for-profit organizations Business consists of all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. [ent?pra?z] 事业，项目 机构;团体;企业部门，行业，领域 3. Identify the factors of production. Labor, capital, entrepreneurs ([??ntr?pr?n?:(r)] 企业家), physical resources, information resources. Planned Economy: An economic system in which the government owns and operates all sources of production Market Economy: An economic system in which buyers and sellers interact ([??nt?r?kt] 相互作用； 互相影响 The economies of most countries include both planned and market elements. Distinguish between microeconomics and macroeconomics. Microeconomics微观经济学—study of small economic units, such as 宏观经济学—study of a nation’s overall economic 1) Price 2)Customer preferences and income 3) Prices of substitute ([s?bst?tju:t] 替代[?k?mpl??mentri] 互补的’ optimism about the future. （2）Factors Driving Supply factors of production (Central role in determining the overall supply of goods and services is played by factors of production.) Other factors like taxes and the number of suppliers will also influence the supply. Describe each of the four different types of market structures in a private enterprise system. Pure competition，monopolistic [m??n?p??listik] competition(垄断性竞争 [??l?g?p?l?] 寡头 求过于供的市场情况 [m?n?p?l?] 垄断 Prosperity, 繁荣； recession 衰退； depression 萧条； recovery 复苏 [pr?sper?t?] [r??se?n] [d?pre?n] Explain how productivity, price-level changes, and employment levels affect the stability of a nation’s economy. Discuss how monetary policy and fiscal policy are used to manage an economy’s performance. Monetary Policy 货币’s willingness to make loans.