Principles of Economics Chapter one

 

Principle 1: People Face Trade-offs

        天下没有免费的午餐（There ain't no such thing as a free lunch.)，你想得到一样东西，必须失去一样东西。人们总会面临权衡取舍（trade-offs)。

      例如，我每晚上总共有4小时学习。如果我花3小时学英语，就意味者我失去了本可以用来学数学的3小时失去了。

Principle 2: 

The Cost of Something Is What You Give Up to Get It

       因为人们需要权衡（trade off), 所以在做决定之前往往会考虑当中的代价和收益。

       比如说，考虑是否要上大学，你就要考虑当中的代价和收益。

代价：高额的食宿费、上学四年如果用来工作的话可能取得的收入.......

收益：提高自身的知识水平、终身获得更好的就业机会。

Tecnical Term: 

opportunity cost: whatever must be given up to obtain some item

 

Principle 3: Rational People Think at the Margin

Rational people know that decisions in life are rarely black and white but usually involve shades of grey.

Economist use the term marginal change to describe a small incremental adjustment to an existing plan of action.

Rational people often make decisions by comparing marginal benefits and marginal costs.

例如，一架200座的飞机的飞行成本是100,000美元，那么，每个座位的成本就是500美元。理论上，每张机票的售价应大于或等于500美元。当如果飞机上有10个座位没坐满，这时有一名额外的乘客只肯掏300美元买票，应不应该卖给他呢？答案是肯定的，因为这样做收益大于成本。                                 

 

Principle 4: People Respond to Incentive

An incentive is something that induces a person to act.

Many policies change the costs or benefits that people face and, therefore, alter their behaviors.

例如，油价涨了，开车的人就少了，搭公交的人就多了。

How People Interact

 

Principle 5: Trade Can Make Everyone better off

贸易中自由竞争。但竞争双方并非“不是你死就是我亡”，而是能够双赢。如果没有贸易，家家户户都必须在衣食住行等各方面自给自足，那么生产效率自然低下。而市场竞争可以让每个人体专攻自己擅长的方面，然后大家互相交易，从而提高的社会整体的生产效率和质量。

 

Principle 6: Market Are Usually A Good Way to Organize Economic Activity

计划经济 VS 市场经济

亚当.斯密说，有一只看不见的手（invisible hand)引导着家庭和企业在市场中相互作用，然后取得理想的市场收益。市场经济（market economy）中那只看不见的手通过【价格】来指导经济活动。

 

Principle7:Government Can sometimes Improve Market Outcomes

Tecnical Term:

property rights: the ability of an individual to own and exercise control over scare resources

market failure: a situation in which a market left on its own fails to allocare resources efficiently

externality: the impact of one person's actions on the well-being of a bystander

market power: the ability of a single economic actor to have a substantial influence on market prices.

      政府在市场经济中也发挥着重要作用。如果没有政府来维护市场秩序，市场经济就无法正常运作。

      生产者的财产所有权（property rights）需要政府来保护。如我一个农民的庄稼老是被偷，那他以后还会去种田吗？

      因为市场自身存在固有的缺陷（market failure），所以市场需要政府的宏观调控。比如说某年猪肉的需求增加，大家看见卖猪肉有利可图，就一哄而上地去养猪，导致大量的资源浪费在养猪上。最后供过于求，资源浪费。如果政府不插手管理，市场就乱了套。

     造成market failure的另一原因是market power。比如说，镇上人人都需要水，而只有一口井，那么井的主人就不受“看不见的手”用以调控经济的手段---竞争的限制，就会任意哄抬物价。

How The Economy as a Whole Works

Principle 8: A country's Standard of living depends on its ability to produce goods and services

国家生产力决定国民生活水平

 

principle 9： Prices Rise When the Government Prints too much money

印钞过多导致通货膨胀(inflatioin)

Principle 10: society faces a short-run trade-off between inflation and unemployment

钞票多导致消费增加，从而对商品和服务的需求增加---------需求增加导致企业雇佣更多的人来生产商品和提供服务--------失业率下降。

语言学习：

1. 7trade sth off (against / for sth)
   · to balance ten things or situations that are opposed to each other
   · 权衡；平衡；使协调:
    »They were attempting to trade off inflation against unemployment.
     他们正力求在通货膨胀和失业之间进行协调。

   
   

2. fast:to eat little or no food for a period of time, especially for religious or health reasons
   · 节食；禁食；斋戒:
    »Muslims fast during Ramadan.
     伊斯兰教徒在斋月期间斋戒。 

   
   

3. induce:[VN to inf] (formal) to persuade or influence sb to do sth
   · 劝说；诱使:
    »Nothing would induce me to take the job.
     没有什么能诱使我接受这份工作。 

   
   

4. orchard果园

   
   

5. skyrocket: to increase quickly to a very high level or amount
      Costs/Sales have skyrocketed.
      skyrocketing prices
      His popularity skyrocketed after his latest movie.

   
   

6. brethren: people who are part of the same society as yourself
   · 同一组织等的成员；同道；同仁:
    »We should do all we can to help our less fortunate brethren.
     我们应当尽力帮助那些不幸的兄弟姐妹。

   
   

7. prevail:~ (against / over sb) (formal) to defeat an opponent, especially after a long struggle
   · (尤指长时间斗争后)战胜,挫败

   
   

8. flag:to become tired, weaker or less enthusiastic
   · 疲乏；变弱；热情衰减:
    »It had been a long day and the children were beginning to flag.
     这一天真漫长,孩子们都累得打起蔫来。
    »Her confidence had never flagged.
     她的信心从未减弱。
    »flagging support / enthusiasm 

   
   

9. fluctuate: ~ (between A and B) to change frequently in size, amount, quality, etc., especially from one extreme to another
   · (大小、数量、质量等)波动；(在…之间)起伏不定
   【SYN】 vary :
    »fluctuating prices
     波动的价格
    »During the crisis, oil prices fluctuated between $20 and $40 a barrel.
     在危机时期,每桶石油价格在 20 元至 40 元之间波动。
    »Temperatures can fluctuate by as much as 10 degrees.
     温差可达 10 度之多。
    »My mood seems to fluctuate from day to day.
     我的情绪似乎天天在变。
   
   

10. ominipotent=omini(=all)+potent