经济学导论英文版第四单元名词解释.docx

CHAPTER4TheMarketForcesOfSupplyAndDemandMarket:Itisagroupofbuyersandsellersofaparticulargoodorservice.CompetitiveMarket:Itisamarketinwhichtherearemanybuyersandmanysellerssothateachhasanegligibleimpactonthemarketprice.QuantityDemanded:Theamountofagoodthatbuyersarewillingandabletopurchase.LawofDemand:Itclaimthat,otherthingsequal,thequantitydemandedofagoodfallswhenthepriceofthegoodrises.DemandSchedule:Itisatablethatshowstherelationshipbetweenthepriceofagoodandthequantitydemanded.DemandCurve:Itisagraphoftherelationshipbetweenthepriceofagoodandthequantitydemanded.NormalGood:Itmeansagoodofwhich,otherthingsequal,amincreaseinincomeleadstoanincreaseindemand.InferiorGood:Itmeansagoodwhich,otherthingsequal,anincreaseinincomeleadstoadecreaseindemand.Substitutes:Itmeanstwogoodsforwhichanincreaseinthepriceofoneleadstoanincreaseinthedemandfortheother.Complements:Itmeanstwogoodsforwhichanincreaseinthepriceof学习资料oneleadstoadecreaseinthedemandfortheother.QuantitySupplied:Theamountofagoodthatsellersarewillingandabletosell.LawofSupply:Itclaimthat,otherthingsequal,thequantitysuppliedofagoodriseswhenthepriceoftherises.SupplySchedule:Itisatablethatshowstherelationshipbetweenthepriceofagoodandthequantitysupplied.SupplyCurve:Itisagraphoftherelationshipbetweenthepriceofagoodandthequantitysupplied.Equilibrium:Itisasituationinwhichthemarketpricehasreachedthelevelatwhichquantitysuppliedequalsquantitydemanded.EquilibriumPrice:Thepricethatbalancesquantitysuppliedandquantitydemanded.EquilibriumQuantity:Thequantitysuppliedandthequantityattheequilibriumprice.Surplus:Itisasituationinwhichquantitysuppliedisgreaterthanquantitydemanded.Shortage:Itisasituationinwhichquantitydemandedisgreaterthanquantitysupplied.LawofSupplyandDemand:Theclaimthatthepriceofanygoodadjuststobringthequantitysuppliedandthequantitydemandedforthatgoodintobalance.。