【正文】 atoPorkA10 kg2kg252。 expectations about future prices and ines that can be checked.5) Number of potential consumers.The four basic laws ofare: 1. If demand increases (demand curve shifts to the right) and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price.When consumers increase the quantity demanded at a given price, it is referred to as an increase in demand. Increased demand can be represented on the graph as the curve being shifted to the right.2. If demand decreases (demand curve shifts to the left) supply remains unchanged, a surplus occurs, leading to a lower equilibrium price.3. If demand remains unchanged and supply increases (supply curve shifts to the right), a surplus occurs, leading to a lower equilibrium price.4. If demand remains unchanged and supply decreases (supply curve shifts to the left), a shortage occurs, leading to a higher equilibrium price.Market Equilibrium [,ikw?39。 當(dāng)E_d=0：完全無彈性（perfectly inelastic）252。 當(dāng)E_d=∞：完全彈性或完全有彈性（perfectly elastic）1) Price elasticity of demand(absolute value)=A number of factors can thus affect the elasticity of demand for a good：1. Availability of substitute goods: people can easily switch from one good to another if an even minor price change is made. There is a strong substitution effect. If no close substitutes are available, the substitution effect will be small and the demand inelastic.2. Breadth of definition of a good: the broader the definition of a good (or service), the lower the elasticity.3. Percentage of ine: the higher the percentage of the consumer39。 an apparent contradiction of the law of demand. Some types of luxury goods, such as highend wines, jewelry, designer handbags, and luxury cars, are Veblen goods, in that decreasing their prices decreases people39。cause efficiency to increase continuously with the size of the firm. Natural monopoly products: rail way, air service, Water Supply Company, Tele Company完全競爭壟斷競爭：企業(yè)數(shù)目若干或很多，進(jìn)入不受限制，產(chǎn)品有差別，企業(yè)對價格有一定的控制能力.寡頭壟斷：企業(yè)數(shù)目少，進(jìn)入受到限制，產(chǎn)品屬性有差別，需求曲線向下傾斜，相對無彈性.完全壟斷：數(shù)目只有一個，進(jìn)入受到限制或完全受阻，產(chǎn)品獨一無二，企業(yè)對價格有著強大的控制力.Game theory a study of strategic decision making.The prisoner39。 If A and B both remain silent, both of them will only serve 1 year in prisonRegardless of what the other decides, each prisoner gets a higher payoff by betraying the other.Nash equilibrium [,ikw?39。 Worker: Performance, move out or skills252。 wage rigidity: wages that fail to adjust to the level indicated by equilibrium [,ikw?39。 Shoe leather cost: more trips to the bank are necessary in order to make withdrawals, proverbially wearing out 216。 Tobin effect: extra consumption and investment resulting from the effect would be seen as positive252。 Economic activities (. industries) are classified into various sectors.216。s [pr?39。f?r?kl] invisible hand, which will move markets towards their natural equilibrium, without requiring any outside intervention.Everyone is seeking to maximize their own interest. During this way, the social interest will also be improved unconsciously and reach the best and most efficient situation automatically.Labor theory of value: the economic value of a good or service is determined by the total amount of labor required to produce it.A modity has:a value (note the link is to a nonMarxian definition of value)a usevalue (or utility)an exchange valuea price (it could be an actual selling price or an imputed ideal price)Neoclassical economics: It was expressed by E. Roy Weintraub Three central assumptions1) People have rational preferences between outes that can be identified and associated with values.2) Individuals maximize utility and firms maximize profits.3) People act independently on the basis of full and relevant information.4) Perfect petition The pursing of interest and utility is the best way to allocate of resources.Keynesian economics: The economy as unable to maintain itself at full employment and believed that it was necessary for the government to step in.Government is visible hand.1) A reduction in interest rates (monetary policy)2) Government investment in infrastructure (fiscal policy).Investment by government in infrastructure injects ine into the economy by creating business opportunity, employment and demand.A central conclusion of Keynesian economics is that, in some situations, no strong automatic mechanism moves output and employment towards full employment levels.Government spending can be used to increase aggregate demand, more demand need more supply, more supply need more workers, more job chance. Thus increasing economic activity, reducing unemployment and deflation. 增加貨幣供給、需求增加、經(jīng)濟增長、失業(yè)減少、物價上漲、通貨膨脹，減少貨幣供給、需求減少、經(jīng)濟停滯、失業(yè)增加、物價下跌、通貨緊縮。訂約成本（Contracting Cost）：當(dāng)雙方達(dá)成共識而進(jìn)行交易時，簽訂契約所投入的成本。m?tr?k] asymmetrisch information (the agent having more information), such that the principal cannot directly ensure that the agent is always acting in its (the principal39。違約成本（Enforcement Cost）：指契約簽訂后，當(dāng)交易一方違約時，另一方為激勵契約之履行所花費的成本。Institutional Economics: focuses on understanding the ro