Basic Economic Problem
基本经济问题
基本经济问题
What does scarcity mean?
稀缺是什么意思？
Answer / 答案:
Limited resources and unlimited wants.
资源有限而需求无限
Name the four factors of production.
请说出四种生产要素
Answer / 答案:
Land, Labour, Capital, Enterprise
土地、劳动力、资本、企业
What is the reward for land?
土地的报酬是什么
Answer / 答案:
Rent 租金
Define opportunity cost.
定义机会成本
Answer / 答案:
The benefit of the next best alternative forgone.
放弃的下一个最佳选择的收益
What is a resource?
什么是资源？
Answer / 答案:
Factors of production: land, labour, capital, enterprise.
生产要素：土地、劳动力、资本、企业
What is a free good?
什么是自由商品
Answer / 答案:
A good supplied by nature with no price charged (air, sunlight).
自然提供、不收费用的商品（空气、阳光）
What does 'labour' mean?
‘劳动力’是什么意思？
Answer / 答案:
Human work input into production.
人类对生产的投入
What is the reward for labour?
劳动力的报酬是什么
Answer / 答案:
Wages 工资
Is opportunity cost money?
机会成本是金钱吗？
Answer / 答案:
No, it is the next best alternative forgone.
不是，而是放弃的下一个最佳选择
What is macroeconomics?
什么是宏观经济学？
Answer / 答案:
Study of the economy as a whole.
研究整个经济
What is the basic economic problem?
什么是基本经济问题？
Answer / 答案:
Scarcity – limited resources and unlimited wants.
稀缺——资源有限而需求无限
What is capital?
什么是资本？
Answer / 答案:
Man-made tools/machines for production.
用于生产的人造工具/机器
What is the reward for capital?
资本的报酬是什么？
Answer / 答案:
Interest 利息
If you buy AirPods instead of glasses, what is the opportunity cost?
如果你买AirPods而不是眼镜，机会成本是什么？
Answer / 答案:
The glasses 眼镜
What is microeconomics?
什么是微观经济学？
Answer / 答案:
Study of individuals/firms allocating scarce resources.
研究个人和企业如何分配稀缺资源
Give one example of an economic good.
举一个经济商品的例子
Answer / 答案:
Any good with a price, e.g., clothes, phones.
任何有价格的商品，例如衣服、手机
Who is an entrepreneur?
什么是企业家？
Answer / 答案:
A person who takes risks and organizes production.
承担风险并组织生产的人
Which factor is the most mobile?
哪一种生产要素的流动性最强？
Answer / 答案:
Enterprise 企业
Why does opportunity cost exist?
为什么会存在机会成本
Answer / 答案:
Because resources are scarce and choices must be made.
因为资源稀缺，必须做出选择
What is infrastructure?
什么是基础设施？
Answer / 答案:
Facilities supporting business activity, e.g., internet, airports.
支持商业活动的设施，如互联网、机场
What is the reward for enterprise?
企业的报酬是什么？
Answer / 答案:
Profit 利润
Give an example of 'land'.
请举一个‘土地’的例子
Answer / 答案:
Natural resources like oil, soil, water.
自然资源，例如石油、土壤、水
What is geographical mobility?
什么是地理流动性？
Answer / 答案:
Ability to move factor from one place to another.
将生产要素从一个地方移动到另一个地方的能力
Give one personal example of opportunity cost.
举一个你自己的机会成本例子
Answer / 答案:
Open answer (e.g., choosing study over playing games).
开放答案（如选择学习而不是玩游戏）
What is an economic good?
什么是经济商品？
Answer / 答案:
A good that has a price and is scarce.
有价格且稀缺的商品