经济学原理（第三版）关键词-曼昆（英文）.pdf

Chapter 1: Ten Principles of Economics Key Terms business cycle Fluctations in economic activity, such as employment and production. economics The study of how society manages its scarce resources efficiency The property of society getting the most it can from its scarce resources equity The property of distributing economic prosperity fairly among the members of society. externality The impact of one persons actions on the well-being of a bystander. inflation An increase in the overall level of prices in the economy. marginal changes Small incremental adjustments to a plan of action. market economy An economy that allows resources through the decentralized decisions of many firms and households as they interact in markets for goods and services. market failure A situation in which a market left on its own fails to allocate resources efficienty. market power The ability of a single economic actor (or small group of actors) to have a substantial influence on market prices. opportunity cost Whatever must be given up to obtain some item. Phillips curve A curve that shows the short-run tradeoff betwen inflation and unemployment. productivity The quantity of goods and services produced from each hour of a workers time. scarcity The limited nature of societys resources. Chapter 2: Thinking Like an Economist Key Terms circular-flow diagram A visual model of the economy that shows how dollars flow through markets among households and firms. production possibilities frontier A graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology. microeconomics The study of how households and firms make decisions and how they interact in markets. macroeconomics The study of economy-wide phenomena, inc