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2020考研英语：翻译模拟题答案(三)
Economics, as we know it, is the social science concerned with the production, distribution, exchange, and consumption of goods and services. Economists focus on the way in which individuals, groups, business enterprises, and governments seek to achieve efficiently any economic objective they select. (1) Other fields of study also contribute to this knowledge: Psychology and ethics try to explain how objectives are formed, history records changes in human objectives, and sociology interprets human behavior in social contexts.
Standard economics can be divided into two major fields. (2) The first, price theory or microeconomics, explains how the interplay of supply and demand in competitive markets creates a multitude of individual prices, wage rates, profit margins, and rental changes. Microeconomics assumes that people behave rationally. Consumers try to spend their income in ways that give them as much pleasure as possible. As economists say, they maximize utility. For their part, entrepreneurs seek as much profit as they can extract from their operations.
The second field, macroeconomics, deals with modern explanations of national income and employment.
Macroeconomics dates from the book, The General Theory of Employment, Interest, and Money (1935), by the British economist John Mayn...
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