微观经济学 (英文版)名词解释

Microeconomics: A Layman’s Guide to Key Terms Microeconomics, at its heart, is all about understanding how individuals and businesses make decisions. It’s a fascinating, often frustrating, dive into the mechanics of markets – why prices change, how supply and demand interact, and what drives those complex behaviors. Think of it as looking at the forest through a magnifying glass, instead of trying to comprehend the whole ecosystem. A cornerstone of microeconomics is Supply and Demand. This isn’t some abstract theory; it's the engine behind nearly every transaction we see. The law of supply states that as the price of a good or service increases, producers are incentivized to supply more of it. Conversely, the law of demand dictates that as prices rise, consumers tend to buy less. These laws constantly push and pull, establishing the equilibrium price. Then you have Elasticity, a really important concept. It measures how responsive something is to change. Price elasticity of demand, for example, tells us how much the quantity demanded changes when the price changes. A highly elastic good has a big reaction, while an inelastic good doesn’t. Another key term is Opportunity Cost. Essentially, it’s the value of the next best alternative you forgo when making a decision. Choosing to spend your money on a new gadget means you’ve given up the opportunity to use that money for something else – like a vacation or investing. Finally, consider Market Structures. Microeconomics analyzes different market arrangements – from perfect competition (many small firms selling identical products) to monopolies (a single firm dominating the market). Understanding these structures reveals why some industries are fiercely competitive and others are controlled by a few powerful players. Ultimately, microeconomics provides the tools to analyze economic behavior at a granular level, offering valuable insights into the forces shaping our world. 展开