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GLOSSARY

Раздел 1. Введение в экономическую теорию

Тема 1. Понятие экономической теории. Основные категории товарного хозяйства.

1. Economic theory (экономическая теория) - is a simplification of economic reality designed to capture the important elements of the relation under consideration.

2. Economic model (экономическая модель) - a simplified representation of an economy; a formal statement of a theory; or some part of an economy.

3. Economic system (экономическая система) - a set of mechanisms and institutions for decision making and the implementation of decisions concerning production, income, and consumption within a given geographic area.

4. Macroeconomics (макроэкономика) - studies the behavior of entire economies and the combined effects of individual choices on the overall performance of the economy as reflected by the nation' s price level, total production, and level of employment.

5. Microeconomics (микроэкономика) - examines the behavior of economic actors, the factors that affect individual economic choices, how changes in these factors alter such choices, and their coordination.

6. Factors of production (or resources) (факторы производства (или ресурсы) - inputs to production that are used to create goods and services (labor, entrepreneurship, capital, natural resources).

7. Land (земля) - plots of ground and other natural resources used in the production of goods and services.

8. Labor (труд) - the physical and mental efforts of humans directed toward production.

9. Capital (капитал) - all means of production that are created by people (including buildings, tools, machinery, industrial equipment, and structures) that are used as inputs for production.

10. Entrepreneurial ability (предпринимательская способность) - includes managerial and organization skills of resource owners together with the willingness to take risks.

11. Good (товар) - a tangible product that is used to satisfy wants; that is considered desirable or "good" by those who own it or could acquire it.

12. Free good (свободный товар) - a good that users can have as much as they want at zero price.

13. Economic good (экономический товар) - a good that is scarce - users cannot have as much as they want at zero price.

14. Scarcity (редкость) - a good or a factor of production is scarce if, at zero price, the quantity demanded would exceed the available supply.

15. Service (услуга) - an intangible activity that is used to satisfy a want; intangible products.

16. Consumer goods (потребительские товары) - output consisting of items that consumers purchase, such as clothing, food, and drink.

17. Production possibilities curve (кривая производственных возможностей) - a locus of all combinations of two goods that can be produced with the resources available.

18. Opportunity cost (вмененные издержки) - the cost of the foregone alternatives. The opportunity cost of producing one good consists of the other goods that might be produced with the same resources.

19. Comparative advantage (сравнительное преимущество) - the ability to produce a good or service at a relatively lower opportunity cost than someone else.

20. The law of comparative advantage (закон сравнительного преимущества): the individual with the lowest opportunity cost of producing a particular good should specialize in producing that good.

21. Absolute advantage (абсолютное преимущество) - is the ability to produce something with fewer resources than other producers use.

22. Division of labor (разделение труда) - the organization of production of a single good into tasks in which people specialize.

23. Specialization (специализация) - the focusing of individuals' efforts on the production of a particular good or service, or of a single task.