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  • Adriene: Welcome to Crash Course Economics, I’m Adriene Hill

    觀眾朋友大家好,歡迎來聽速成經濟學,我是Adriene Hill

  • Jacob: and I’m Jacob Clifford, and I have a confession. Economistsperfect little

    我是 Jacob Clifford,我承認經濟學家的一些完美的模式

  • models don’t exactly reflect real life. Which is disappointing.

    無法真的反映事實生活,雖然有點令人失望

  • Adriene: Don’t worry. Youre not wasting your time. Microeconomics explains ideas and concepts in

    別擔心,上這門課不會浪費時間,總體經濟解釋概念和觀點

  • pretty broad terms, and leaves the business specifics to other courses like accounting,

    時會用較通俗的名詞,太專業的名詞會留給專業科目如會計

  • management, and marketing. Understanding economics can help entrepreneurs become better

    管理及行銷,瞭解經濟學可以幫企業家學習

  • decision makers. Think of it like a liberal arts educationit's not where you go to

    如何決策,把經濟學看成是一門人文教育,本課程不是要讓你

  • learn any specific jobbut it can help you see the big picture.

    學習做某一項工作,但可以協助你擴展視野

  • [Theme Music]

    音樂

  • Jacob: Let’s say a lawyer stops practicing law and decides to open up a pizza parlor.

    舉律師的例子,如果一位律師不再執業,決定開家披薩店

  • Let’s say his total revenue from selling pizza is $50,000 and he has to pay $20,000

    如果他賣出披薩所賺的錢是 5 萬美元,他必須付 2萬美元

  • to cover stuff like the ingredients, the oven, rent, and wages. Now, an accountant would

    來買材料、烤箱、付租金及員工薪水,會計師會計算

  • calculate his profit, the revenue minus the costs, as $30,000. Not bad.

    賣披薩的利潤,收入減去支出是 3萬美元,不錯 !

  • But an economist recognizes that there‘s a cost missing: the opportunity cost. Our

    但經濟學家會認為這個計算方式裡少了一些東西,即機會成本

  • pizza entrepreneur loses the income he would have earned by being a lawyer, let’s say

    就是比薩的老板不做律師時所未獲得的薪水,比方是

  • $100,000. If you factor that in, he is actually losing $70,000.

    10 萬美元,如果你把這項支出算進去,他其實是損失了 7 萬美元

  • But he's his own boss. He might be happier running a pizza shop even though he is making

    但他是自己的老板,雖然虧錢還是會開心

  • less money. Well, maybe, but the point is, you have to factor in these implicit benefits

    好吧,可能很開心,但重點是你必須把這些隱含的利潤

  • and costs when you make decisions.

    和支出都算進去,才能下決定

  • So there's actually two types of profit. Accounting profit, which is revenue minus just explicit

    所以事實上有兩種型式的利潤,會計上的利潤,用收入減去顯性成本

  • costs, those traditional out-of-pocket costs you think of when you run a business. And

    這種傳統的做法計算成本的開銷

  • there’s Economic profit which is revenue minus explicit and implicit costswhich

    然後另一種是經濟學上的利潤,就是收入減去隱性成本

  • is those indirect opportunity costs.

    那些非直接的機會成本

  • Adriene: In this example, putting a dollar price on opportunity cost is pretty easy.

    這個例子裡,計算機會成本其實蠻容易

  • It’s just the income he’s not earning as a lawyer. Maybe the idea of putting a price

    就是當律師所賺的薪水,也許你會認為把無形的

  • on intangible implicit things seems a little strange, but you do it all the time. When

    隱性的薪水算進來有點奇怪,但其實你經常會這麼做

  • youre deciding whether or not to get a job you calculate the explicit costslike

    當你在思考是否要做某項工作時,你要計算顯性成本

  • how much it costs to get to work every day, but also the implicit coststhe value

    像是每天去工作要花的錢,但也要考慮隱性的支出

  • of the things you have to give up.

    如你必須放棄做的事或物

  • Maybe youre giving up the money you could earn doing some other job, time with family

    也許你因為要做這項工作,而放棄做另一項工作可以賺到的錢

  • and friends, or the opportunity to binge watch Gilmore Girls. How much that actually costs depends

    少了和家人和朋友相處的時間,或追劇的機會,究竟這些值多少錢

  • on the individual, but if the wage offered is greater than the cost of all those things, you take the job.

    必須視個人而定,如果工作可以獲得的收入遠大於所有這些成本,該選擇工作

  • Businesses use this same logic. They calculate their potential revenue and their costs of

    做生意也是如此,企業家計算商品潛在的收益及成本

  • production, including implicit costs, to make informed decisions. This means that companies

    包括隱性成本,才能做出明智的決定,這表示公司

  • in competitive markets don’t make very much profit.

    在競爭的市場中不會賺太多錢

  • In fact, economists argue that they make no economic profit. To be clear, companies need to make accounting

    事實上,經濟學家認為企業不能有很大的經濟利潤,說明白點,公司需要有利潤

  • profit to stay in business, so they do make a profit, just not above and beyond their opportunity costs.

    才能存活,所以他們會賺錢,但不會超過他們的機會成本

  • Here’s why: If you're the first one to start selling glowsticks at a rave, you might make

    這是為什麼,如果你是第一家賣螢光棒的,你可能會賺些錢

  • some economic profit. You would cover the cost of glow sticks and possibly all of your

    你要有商品的成本,還有一些可能的

  • opportunity costs, the money you could be earning doing something else.

    機會成本,就是你如果做別的生意賺的錢

  • But if youre making a ton of extra money on top of that, it's likely that glowstick

    如果你因為製造商品而賺大筆的錢,很可能其他的競爭者

  • competitors will jump in the market. Competition will lower the price and reduce your sales.

    也會跳進來和你搶生意,競爭使商品價格下降,你的銷售量也減少

  • New vendors will continue to enter until all that extra profit disappears, just like the

    新的競爭者不斷地投入市場,直到你的額外的利潤消失

  • beautiful light of a glow stick fading away on Sunday morning. Businesses that stay in

    就像是週六晚上點亮的螢光棒在週日早上螢光漸漸消失

  • the market make just as much as they would doing something else.

    做這個生意的公司所賺的錢就像賣其他的商品時賺的錢一樣

  • In other words, they have zero economic profitthat’s what economists call normal profit.

    換句話說,這些公司根本沒有經濟上的利潤,只是經濟學家所稱的標準利潤

  • And it’s the minimum level of economic profit a company needs to stay in business. But remember,

    這只是一間公司所得到的最小程度的獲利,僅能供其維持營運不致關門的利潤

  • this is only in very competitive markets that have low barriers for entry. If it's hard

    但記得這是在競爭很激烈的市場,而加入市場的門檻低的情況下才會如此

  • for other companies to enter a market, then a business can earn economic profit.

    如果其他的公司想加入市場會有極大的困難,則原來佔有第一位的企業就可以獲得經濟利潤

  • Jacob: So now, let’s look at the cost of production, the actual cost of producing things.

    好的,現在讓我們來看看製造成本,生產商品實際上的成本

  • Economists point out that there's two types of costs: there's variable costs and fixed

    經濟學家指出兩種成本,變動成本及固定成本

  • costs. Variable costs change with the amount produced. So, a variable cost for a pizza

    變動成本隨著製造量增加而改變,如一家披薩店生產披薩時

  • restaurant is the costs of ingredients, like wheat and cheese, and the wages paid to workers.

    需要的成本原料小麥起司,還有勞工工資

  • The more pizza you make, the more of those resources you need, and the higher those costs.

    披薩做的愈多,原料需要的愈多,成本就愈高

  • But, fixed costs, as you might imagine are fixed. The cost of an oven or rent don’t

    但固定成本如你想的一樣是不變的,烤箱或店租是不變的

  • change, even if you produce more pizza. Now, together, fixed costs and variable costs make

    即使披薩做的愈多也不會改變,變動成本及固定成本加起來

  • up the total cost for a specific number of pizzas.

    就是製作特定數量披薩的成本

  • Now, Average cost, or the cost per unit, is the total cost divided by the number of output.

    平均成本或是單一數量的成本,則是全部成本除以生產數量

  • The average cost of producing most things initially falls as more is produced.

    若生產數量大時平均成本則降低

  • So if the owner of the pizza shop spends $10,000 on a brand new oven, the average cost of that

    所以披薩店老板如果花了 1 萬美元買了新烤箱,新烤箱烤出來的第一個披薩平均成本

  • very first pizza produced is gonna be about $10,000. The average cost of producing two

    變成是約 1 萬美元,二個的平均成本則

  • pizzas would be around $5,000. And once you get to 10 pizzas, it’s like $1,000 — that’s an expensive pizza.

    大約是 5 千美元,一旦你做出10個披薩,平均成本是 1 千美元,好貴的披薩

  • The more units he makes, the lower the average cost per pizza, because fixed costs can be

    披薩生產愈多,平均成本愈低

  • spread over a large number of units. Now obviously the owner wouldn't have bought that oven if

    因為成本分散到數量上了,當然店主不會只為了十個披薩

  • he expected only to make 10 pizzas.

    而買新烤箱

  • Buying expensive equipment only makes sense if you plan on making a lot. That’s one

    只有在想要生產許多商品時才會添購昂貴的設備

  • reason why large companies often have a cost advantage over small companies.

    這就是大公司相較於小公司來得有利

  • Adriene: So, the cost to produce only one car would be really, really high. Like, millions

    所以只製造一輛車子,車子會很貴,大約百萬元

  • of dollars. But the average price of a new car in the US is over $33,000. To keep their

    但美國一般的新車價錢是 3 萬 3 千多美元

  • average cost down, car manufactures make hundreds of cars per day in huge, expensive factories.

    為了使價格下降,汽車製造商每天在昂貴的車廠裡製造上百輛的車子

  • Their total total costs are astronomical, but the average cost per car is relatively low.

    總生產成本極高,但平均成本相對則低

  • Unless you want an Aston Martin or something.

    除非你要的是一台豪華的奧斯頓·馬丁

  • This is called economies of scale. Companies that produce more can utilize mass production

    這是所謂的規模經濟,公司行號運用大量製造的技術

  • techniques and spread out their fixed costs over a lot of units. Economies of scale work

    將成本平均分攤在數量上,規模經濟的運作良好時

  • so well, some companies get big enough to dominate their industry and limit competition

    公司的規模大到一定程度後,可以在產業裡稱霸並限制競爭

  • Well get to that. For now let’s go back to the pizza example. Economies of scale means

    等等我們再說這點,回到前面提到的披薩店例子,規模經濟的意思是

  • that a larger pizza restaurant may have a slight cost advantage compared to a smaller

    大的披薩店較小型店在成本上佔優勢

  • restaurant because they can afford things like ovens with conveyor belts. To get the

    因為他們可以購買烤箱還有輸送帶

  • average cost to fall even further, a restaurant could automate the entire process and have

    要使平均成本更低,披薩店還可以將生產過程自動化

  • robots produce 1000 pizzas per hour, but that doesn’t make sense if no one wants to buy

    讓機器人每小時生產 1000 個披薩,但如果都沒有人要賣就沒用了

  • all those pizzas. Although it’s great to keep costs down, the goal of a business is

    雖然可以減少成本是很好,但企業的目標不是

  • not to have the lowest average cost. The goal is to make the right number of pizzas that maximize profit.

    將平均成本壓到最低,目標是生產的披薩數量能帶來最大的利潤

  • To produce the right amount, a business should follow the profit maximizing rule:

    要使生產的披薩數量剛剛好,企業必須要遵循一些使利潤最大化的法則

  • continue to produce as long as the marginal revenue of the last unit produced is greater or equal

    持續生產一直到最後一個披薩的邊際收益大於或等於

  • to the marginal cost. This is often shortened down toproduce where MR equals MC.”

    邊際成本,可以簡單的說明成「MR 等於 MC」

  • Let’s break it down. Marginal revenue is the additional revenue earned from selling another unit.

    我們來逐項說明下,邊際收益是賣出每個披薩的額外收益

  • So if a pizza company can sell every pizza for $10 then their marginal revenue for each is $10.

    如果一家披薩店可以賣出 10美元的披薩,那它的邊際收益是每個 10 美元

  • Marginal cost is the additional cost of producing another unit.

    邊際成本則是再生產出一個的額外成本

  • It is the change in total cost from producing one more pizza.

    也是就再生產一個披薩的總成本

  • So if the marginal cost of another pizza is $5 and you can sell it for $10 then you should

    如果再生產一個披薩的邊際成本是 5 美元,賣出時是 10 美元

  • definitely produce that pizza. You would make a $5 profit off it. If the marginal cost of

    披薩店絕對要生產這個披薩, 因為可以賺到 5 美元

  • next pizza is $9 then you should produce that pizza too.

    如果生產另一個披薩的邊際成本是 9 美元,仍應再生產一個披薩

  • But, if the marginal cost of the next pizza is $12, you shouldn’t make it. The additional

    但如果再生產一個披薩的邊際成本是 12 美元,就不該再生產

  • cost is greater than the additional revenue. Notice in this example the marginal cost is

    因為額外的成本超過利潤,注意到這個例子裡的邊際成本

  • increasing. That’s true for the production of almost everything. The more you make, each

    會不斷增加,幾乎所有的產品製造都是如此

  • additional unit is eventually going to cost more. Let’s learn why in the Thought Bubble

    產品製造量愈多,成本愈高,讓我們來瞭解下為什麼

  • Jacob: Businesses have all kinds of variable costs, but let’s imagine a pizza shop where

    企業有許多的變項成本,但我們想像一下披薩店

  • the only variable cost is labor. And while were using the power of imagination, let’s

    只有一項成本即人工,利用我們的想像力下

  • say that theyre making rainbow flavored pizza. Anyway, when one worker is hired,

    工人們製作出彩虹口味的披薩,當雇用一名勞工

  • that worker does absolutely everything himself.

    這名勞工必須大小事全包

  • He purees the rainbows, assembles the pizza, puts it in the oven, and delivers it.

    他要製作彩虹,製作披薩,放進烤箱裡烤,還要外送

  • But, when a company hires a second worker, they can start to specialize. One worker prepares

    但如果公司再雇用一位勞工,他們就可以各司其職了

  • the ingredients while the other makes the pizza and puts it in the oven. Now, this specialization

    一位準備材料,另一位製作披薩放進烤箱

  • decreases the the marginal cost of each pizza. If one worker can make 5 pizzas in an hour,

    各司其職時可以減少披薩的邊際成本,如果一位工人每小時製做五個披薩

  • but two workers can produce 20 pizzas then the additional cost of each of those pizzas will be lower.

    兩位工人每小時製做二十個披薩,製做披薩額外成本會下降

  • But the benefits of specialization are limited. As the company continues to hire more and

    但各司其職的優點有限,公司若雇用許多勞工

  • more workers, the total amount of pizzas they produce each hour is going to increase at a slower rate

    每小時所製作的披薩數量增加速度會變慢

  • Theyve run up against the law of diminishing marginal returns. As you add variable resources,

    情形會變成所謂的邊際收益遞減,當你增加變動的資源像勞工

  • like workers, to a set number of fixed resources, like ovens, the additional output generated

    或是固定的資源如烤箱,額外的勞工所產出

  • from each additional worker will eventually decrease. There are just too many cooks in the kitchen.

    的成果會慢慢減少,因為廚房會有太的廚師

  • Now, eventually, theyll get to a point where hiring another worker only adds one

    好,最終會達到一點,即再雇用一位勞工只能每小時增加一塊披薩

  • more pizza to their hourly total. Now, the marginal cost of that last pizza is huge.

    最後這一塊披薩的邊際成本最大

  • And, it's likely to be higher than the additional revenue the company is gonna get from selling

    而且它可能比賣出披薩所獲得的額外營收還要高

  • that pizza. So to maximize profit, a company should make sure they produce the right number

    所以為了要獲得最大的利潤,披薩店要確保他們生產的披薩數量是最正確的

  • of pizzas. Where the marginal cost of the last unit produced is going to be up to,

    因此,邊際成本可能達到邊際收益

  • but not greater than, the marginal revenue.

    但不能高過於邊際收益

  • Adriene: Thanks Thought Bubble. The Law of Diminishing Marginal Returns applies to all

    感謝思考泡泡,邊際收益遞減法則適用於

  • sorts of tasks. For farmers, there’s likely to be a large additional yield from fertilizing

    各類的工作,對農夫而言,可以指的是一開始養地施肥

  • a field for the first time, but each time they fertilize the additional gains diminish.

    種出農作物,但每次收成後再施肥後額外的獲得會減少

  • At some point, too much fertilizer can actually cause the total yield to fall. This also applies to studying.

    到了一定時間後,太多的肥料可能實際上的收獲下降,法則也適用於讀書

  • The returns from your first hour of studying are high. Instead of failing your final exam, you may get a C.

    第一個小時唸書的效率很高,你可能不會被當而拿到 C

  • Another hour of studying may get you a B and another hour may get you up to a B+. But every

    再讀一小時你能拿到 B ,再一小時可以考到 B+

  • hour you get lower and lower returns. And, again at some pointmaybe the twelfth hour of studying

    但再來的幾小時可能拿到的分數反而低,可能是第十二小時

  • your grade would actually go down since you stayed up all night and fell asleep during the test.

    拿到的分數下降,因為你熬夜太累考試時反而睡著了

  • Understanding this law helps people balance costs and benefits, but there's one more cost

    瞭解這個法則幫人們在成本及獲利之間取得平衡,但還有一項成本

  • we need to cover: sunk costs. A sunk cost is a cost that's already been paid and can't be recovered.

    我們要講一下,沉沒成本是你已經付出的成本,沒法再拿回來了

  • Economists stress that sunk costs shouldn't be included when making future decisions.

    經濟學家強調在做進一步決定時不應考慮沉沒成本

  • Assume a business spends 2 million dollars developing a new product, and then no one

    假設企業花了 2 百萬美元開發新商品,沒有人要購買

  • wants that product. They have to come up with something else. The money spent on developing

    企業必須要想出別的方法,開發第一個商品的錢

  • the first product is a sunk cost and should be ignored moving forward. This type of rational

    即沉沒成本,接下則應別再想它,這種理性的決策

  • decision making seems like common sense, but behavioral economists point out that people

    似乎是常識,但行為經濟學家指出

  • make irrational decisions all the time.

    人們的決定往往是不理性的

  • Think about dating. Imagine a youve been with someone for a couple years. If your relationship

    想一下約會交友,想像你已經和某人交往兩年了,如果交往沒有進一步

  • starts going sour, you might try to ignore the red flags. Who wants to give up on a relationship

    戀情即將告吹,你可能會忽略略警訊,誰都不想放棄戀情

  • that youve invested so much time in? Economics tells us to think about sunk costs and focus

    因為你投資太多時間下嗎 ? 經濟學家告訴我們別再在意沉沒成本

  • instead on the benefits and costs in the future. Get outta there!

    應該去考慮未來的獲利及成本,走出戀情吧

  • Jacob: So there you have it. Everything you need to know to run your own business.

    好了,做生意需要知道的事都說明完了

  • Except, not really. Economics explains business decision making in broad terms.

    除了,沒有全部,經濟學家用較簡化的方式來解釋企業決策

  • Adriene: If you really want to learn all the details, become an entrepreneur and start a business.

    如果你想進一步瞭解更詳盡,自己創業成為企業家

  • And if you ever get interviewed by Fortune magazine or The Wall Street Journal,

    如果你接受 Fortune 雜誌或華爾街日報記者訪問

  • make sure to tell them that it all started here, with Crash Course Economics.

    記得告訴他們你是因為速成經濟學教你創業

  • Thanks for watching, well see you next week.

    謝謝收看,下週見

  • Jacob: Crash Course Economics was made with the help of all these nice people. You can

    速成經濟學是由一些善良的朋友一起合作的

  • help with our costs by subscribing to Crash Course at Patreon, where your support will

    你可以透過訂閱來支持我們,因為你的支持

  • help keep Crash Course free, for everyone, forever. And you get great rewards.

    才可以使速成課免費供讀者點閱,你也可以獲得報酬

  • Thanks for watching and DFTBA!

    謝謝收看,還有 DFTBA !

  • Adriene: Let's break it down. Marginal revenue is the additional revenue earned from --

    說明下,邊際收益是獲得的額外利潤

  • [crashing noise] [laughter] Are you OK?

    你還好嗎 ?

Adriene: Welcome to Crash Course Economics, I’m Adriene Hill

觀眾朋友大家好,歡迎來聽速成經濟學,我是Adriene Hill

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