大学商贸英语部分economic terms

大学商贸英语部分economic termsUnit 1 and 2opportunity cost机会成本：The vlue of the best use (or opportunity) for an economic good, or the value of the sacrificed alternative.production-possibility curve生产可能性曲线：A curve showing the menu of goods that can be produced by an economy. Points outside the curve are unattainable. Points inside it are inefficient since resources are not being fully employed.scarcity稀缺性: The distinguishing characteristic of an economic good. That an economic good is scarce does not mean that is rare, but only that it is not freely available for the taking.market economy 市场经济: An economy in which the setting of prices and allocating of resources are determined largely by the forces of supply and demand. Its advantage is the efficient use of all resources while its disadvantage lies in the fact that it may bring about the disorder for production--so-called failures.planned economy计划经济: Economies in which the government takes central responsibility for economic dicision making, including developing plans for economic growth.unemployment 失业: Joblessness. The measure of unemployment is the number of jobless people who are available for work and are actively seeking jobs. The unemployment rate is unemployment as a percentage of the labor force.energy crisis能源危机: An Energy Crisis is any great shortfall (or price rise) in the supply of energy to an economy. It usually refers to the shortage of oil, electricity or other natural resources. The crisis often has effects on the rest of the economy; many recessions are precipitated by an energy crisis of some form. In particular, the production costs of electricity rise, which raises manufacturing costs. From a consumer side, the price of petrol (gasoline) for cars and other vehicles rises, leading to reduction.the Great Depression 大萧条: The 1929-1934 economic slump in North America and other industrialized areas of the world. It was precipitated by the collapse of the United States stock markt in October 1929. The term "depression" denotes, in its economic sense, a cyclical phase of the economy with high unemployment of labor and capital, business and consumer pessimism, accumulated inventories, minimal investment, and, in some sectors, falling prices.Unit5Import：Usually plural, goods or materials brought or carried in from a foreign country for trade or sale; the act or occupation of brought-in goods or materials from abroad.Capital：Material wealth used or available for use in the production of more wealth.Profit：The return received on a business undertaking after all operating expenses have been met. Produce：output of economic goods and servicesRevenue：Yield from property or investment; income.Monopoly：Exclusive control by 1 group of the means of producing or selling a commodity or service.Unit 6Decentralization分权：1.The dispersion of distribution of functions and powers; specifically, the delegation of power from a central authority to regional and local authorities. 2. The redistribution of population and industry from urban centers to outlying areas.Factor market生产要素市场：The place where inputs or resources are bought or sold. Factor markets usually refer to labor or capital.Product market 产品市场：The part of a relevant market that applies to a firm’s particular product by identifying all reasonable substitutes for the product and by determining whether these substitutes limit the firm’s ability to affect prices.Self-interest利己主义：1. A concern for one’s own advantage and well-being. 2 One’s own interest or advantage.Unit 10 and 15Transfer payment: grants or other payments not made in return for a productive service, for example, pensions, unemployment benefits and other forms of income support, including charitable donations by companies.Gross national product(GNP):the total money value of all final goods and services produced in an economy over a one-year period(gross domestic product, GDP)plus net property income from abroad(interest, rent, dividends and profits).Governmental expenditure: an estimate of income and expenditure for a future period as opposed to an account which records financial transactions.Private sector: that part of the economy in which economic activity is carried on by private enterprise as distinct from the public sector.Antitrust反托拉斯法: Legislation to control monopoly and restrictive practices in favor of competition.Pure market economy纯粹市场经济an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.Unit 11Full Employment Act of 1946: A well-known act related with employment in U.S., which federal gov should try its best to maximize employment, output and purchasing powerFederal Reserve board: decision-making board of U.S. system of central banking, which consists of a board of governors in charge of twelve District Reserve Banks.Market mechanism: an economy in which a substantial proportion of economic decision r taken by the use of market. It's contrasted with a planned economy.Mixed economy: an economy with a mixture of state and private enterprise. Some economic activities are co-coordinated by markets; others r carried on by organizations under state ownership and control.Inflation: a persistent tendency 4 prices and money wages increase.Private good: any good or service which if used by 1 individually or firm is not available to others.Collective good:1person's use does not decrease the amount available 4 others.Fiscal policy: the use of taxation &gov spending to influence the eco.Monetary policy: the term "MP" refers 2 the actions undertaken by a central bank,such as the Federal Reserve,2 influence the availability & cost of money &credit 2 help promote national economic goals. There r 3 monetary policy tools:(a)open market operations;(b)the discount rate;(c)reserve requirement.Purchasing power: the amount of real goods &services each unit of money will buy.Unit 12Credit：As a financial term, used in such terms as credit card, it refers to the granting of a loan and the creation of debt.Deflation通货紧缩:A contraction in the volume of available money or credit that results in a general decline in prices.Recession不景气:A period of reduced economic activity.Barter实物交易:Barter is a simple form of trade where goods or services are exchanged for a certain amount of other goods or services, i.e., there is no money involved in the transaction. Demand deposit account活期存款: An account from which a depositor may withdraw funds immediately without prior notice, commonly known as a checking account.Checking accounts支票存款账户:A demand deposit account, withdrawals from which may be made by a written, negotiable instrument.Vault cash备用现金: The cash that is kept by a bank or similar institution to meet day-to-day business needs.Federal Reserve System联邦储备系统:It is the central bank of the United States and in the chief mechanism for making monetary policy.Functions of money 货币职能：money, which exists and has existed in many different forms, serves 3 main functions: (a)a medium of exchange(b)a standard of value (c)a store of value Fractional-reserve banking部分准备金制度：In economics, particularly in financial economics, fractional-reserve banking is the near-universal practice of banks of retaining only a fraction of their deposits 2 satisfy demands 4 withdrawals, lending the remainder at interest 2 obtain income that can be used 2 pay interest to depositors & provide profits 4 the banks’ owners.。