Alevel经济要备概念合集 想复习的你赶紧背完这些内容

各位对经济感兴趣的同学们一定要在Alevel阶段学好Alevel经济呀，这样既能够了解一些基本的经济知识，又能够很好的衔接大学课程。下面就来给大家盘点一下Alevel经济必备概念，赶紧背起来。

Alevel经济必备概念

accelerator effect

The accelerator effect happens when an increase in national income (GDP) results in a proportionately larger rise in capital investment spending. In other words, we often see a surge in capital spending by businesses when an economy is growing quite strongly.

How can the accelerator effect come about

Consider an industry where demand is rising at a strong pace.

Firms will respond to growing demand by expanding production and making fuller use of their existing productive capacity. They may also choose to meet higher demand by running down their stocks of finished products. 

At some point – and if they feel that the higher level of demand will be sustained – they may choose to increase spending on capital goods such as plant and machinery, factories and new technology in order to increase their capacity. If this investment goes beyond what is needed simply to replace worn out, fully depreciated machinery, then the capital stock of the business will become larger. 

In this sense, the demand for capital goods is being driven by the demand for the products that the firm is supplying to the market. This gives rise to the accelerator effect - the principle states that a given change in demand for consumer goods will cause a greater percentage change in demand for capital goods. 

A good example might be the surge in capital investment in wind turbines due to the super-high level of oil and gas prices and a rising market demand for renewable energy. In this case, strong demand created a positive accelerator effect. 

But this can also go into reverse e.g. during an economic slowdown or recession. World oil prices have collapsed and many wind farm projects have been scaled back or postponed because the economic viability of renewable energy has worsened.

Explaining the importance of the Capital Output Ratio.

The accelerator model works on the basis of a fixed capital to output ratio.

For example if demand in a given year rises by £4 million and each extra £1 of output requires an average of £3 of capital inputs to produce this output, then the net level of investment required will be £12 million.

One criticism of this simple accelerator model is that the capital stock of a business can rarely be adjusted immediately to its desired level because of ‘adjustment costs’ and ‘time lags’. The adjustment costs include the cost of lost business due to installation of new equipment or the financial cost of re-training workers. Firms will usually make progress towards achieving an optimum capital stock rather than moving smoothly from one optimal size of plant and machinery to another.

A further criticism of the basic accelerator model is that it ignores the spare capacity that a business might have at their disposal and also their ability to outsource production to other businesses to meet a short term rise in demand.

How does the accelerator effect help to explain the economic cycle?

The accelerator principle is used to help explain business cycles. 

The accelerator theory suggests that the level of net investment will be determined by the rate of change of national income. 

If national income is growing at an increasing rate then net investment will also grow, but when the rate of growth slows net investment will fall. 

There will then be an interaction between the multiplier and the accelerator that may cause larger fluctuations in the trade cycle.

accelerator effect 认为net investment决定了 rate of economy growth。

Law of Demand的基本内容是：

When the  price increases, the quantity demanded decreases. When the price decreases, quantity demanded increases. 前提是Under the condition of ceteris paribus.(all other factors being equal)，P和QD之间的关系也可以用P and QD are inversely related来表述。

Consumer Surplus的定义是：

The difference between what consumers are willing and able to pay and what they actually pay. 

Consumer Surplus=a  

Willing and able to pay=a+b+c

Actually Pay=b+c

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Alevel经济总是拿不了A星 想要进行Alevel经济补课 第一步就要背完这些常考的经济学词汇

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