no words for this guy. everything is clear. he way the teaches is different .thank you sir.
@danielsparrow53093 жыл бұрын
Funny story, i had an economics class in my 2nd year of uni, and my professor gave us the overcomplicated formula for the PED and it made little to no sense to me back then. Looking back at it, it is so much easier and it actually makes perfect sense! Needless to say, i was lost the whole semester after this chapter :D. Thank you so much for doing these videos, they are amazing for anyone who wants to learn!
@DrAzevedoEcon Жыл бұрын
It's very easy to make this more complicated than it needs to be.
@NhuY-tr8og8 ай бұрын
00:02 Introducing the concept of elasticity in relation to demand and supply. 02:28 Price affects quantity demanded based on elasticity 06:52 Price elasticity of demand measures how quantity demanded responds to a change in price 09:40 Gasoline has inelastic demand due to lack of close substitutes. 14:44 The elasticity of demand depends on the market definition and the share of the good in the consumer's budget. 17:02 Goods have elastic or inelastic demand based on budget share 21:35 Understanding how to calculate percent change 23:42 Understanding percent change in test scores 28:29 Calculate price elasticity of demand using percentage change in quantity and price. 30:57 Calculating price elasticity of demand is not hard. 35:40 Calculation of the price elasticity of demand is easy. 37:47 Teaching approach impact on student understanding 41:52 Simplify complex formulas for better understanding 43:39 Calculation of elasticity is not hard, just remembering the basic formula makes it easier. 48:23 Interpreting price elasticity of demand 50:43 Understanding quantity demanded and demand curve shapes
@musickf5 ай бұрын
I went from having next to no idea what I was doing with this concept to almost fully understanding it, with 1 watch. Thank you for this.
@brishlyalcantar46752 жыл бұрын
This was so straightforward, I consider myself fortunate to have stumbled upon this channel. Thank you sir!
@TaylorTowne2 жыл бұрын
Am I the only one here appreciating how well he writes backwards?
@BearfootBrad2 жыл бұрын
Wait, he's writing backwards????
@suikodin2501 Жыл бұрын
It's simply mirrored. He answers that question in other vids. He is indeed right handed and the original recording is behind the board and everything is backwards. But it is uploaded flipped.
@kingsouthak930218 күн бұрын
Thanks you so for your lecturing. It's helped me during my exam, from south Sudan 🇸🇸🇸🇸✌️
@AdilAkylov22 Жыл бұрын
Dr Aevedo YOU ARE THE BOSS OF THE INTRODUCTION INTO ECONOMICS! YOU ARE THE GREATEST TEACHER. MY TEACHER GAVE ME FORUMA LIKE (Q1-Q2)/[Q1+Q2]/2 // (P1-P2)/[(P1+P2)/2] AND I WAS SO SHOKED
@DrAzevedoEcon Жыл бұрын
Thanks! Those formulas can be pretty intimidating. Glad to help!
@JELSONMAUKI3 ай бұрын
Day before i have test suddenly i listen to you about easy to calculate PED or E . You help me a lot because was not attending my clsss lecture for almost all semester because of alot of 🌧️🌧️🌧️. Finally i pass my test 13/15.🙏🙏🙏🙏
@DrAzevedoEcon3 ай бұрын
Congratulations! I'm glad I could help out.
@JELSONMAUKI2 ай бұрын
@@DrAzevedoEcon. I calculated and I gt price elasticity demand is 1/3 and I used your simple formula but classmate used that hard formula and he gt -0.2 and went check to that gbt and the answer is -0.2 . Please help to know the real answer. The question below 👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇 Find elasticity of demand given that when the price of a commodity is $ 4, the quantity demanded is 10 units, and when the price increases to $ 8, quantity demanded decreases to 8 units.
@DrAzevedoEconАй бұрын
@@JELSONMAUKI Your calculations are correct. It appears that what your classmate is doing is calculating the elasticity without using the midpoint method. In my opinion, that is incorrect. The reason for using the midpoint method is that your answer is not dependent on which price you start with. If your classmate uses their method, they will get a different answer if they start with P=4, Q=10 than if they start with P=8, Q=8.
@lourdezpuquir920211 ай бұрын
Thank you so much! I barely passed my first quiz sinc3 im taking an online class and i have to read the book and try to make sense of it. Now that i see you explaining it in a different way i see how simple it is. I really appreciate your videos!
@GirinSofia2 ай бұрын
Thank you so much professor, thanks to your videos I passed my exam. Hello from Seoul
@user-xr1zf2lj7y11 ай бұрын
Thank you so much! I really appreciate how straightforward you made this . Thanks again for making things so simple!
@freitag3143 ай бұрын
I enjoyed your lecture, especially the reflection on revising your approach to teaching this idea. I've been helping my daughter with her business calculus class, and your video helped make this more concrete.
@DrAzevedoEcon3 ай бұрын
I'm glad the video helped!
@Nushath7 ай бұрын
You are great in teaching way and the explanation. thanks for giving such lectures I'm KZfaq.
@saarahfrancis7948 Жыл бұрын
Thank you so much Dr Azevedo! I am doing an online class and it was so difficult to make it as simple on my own.
@cmcgrew98 Жыл бұрын
I think it can definitely be said that you explained this better than my microeconomics teacher.
@DrAzevedoEcon Жыл бұрын
Thank you! Glad to help.
@CharlesKenyi-zv5nu10 ай бұрын
I will follow you for ever
@cordeliaasika22753 жыл бұрын
Thank you so much for this video!!!! You took Time in explaining this concept!!!
@user-uh1qt5rp5p5 ай бұрын
The structure is very clear. It's easy to understand.
@joechibangu2007 Жыл бұрын
Thanks. You are an Excellent tutor🤝
@DrAzevedoEcon Жыл бұрын
You're welcome! Glad to help.
@kaeshaunsingh61062 жыл бұрын
Thankyou professor, your lectures have helped me alot for my ECON course
@mirriamm.kasolo1767Ай бұрын
You are very helpful i really Appreciate ❤😊
@affulkwekuisaac636 Жыл бұрын
U are the best sir ..... much love from Ghana 🇬🇭🇬🇭🇬🇭
@DrAzevedoEcon Жыл бұрын
Thank you!!
@nataliamoscalenco29693 ай бұрын
Amazing lecture! Chapeau!
@DrAzevedoEcon3 ай бұрын
Thanks!
@kirky3051 Жыл бұрын
You are an awesome teacher! Thank you so so much for helping me understand ❤
@DrAzevedoEcon Жыл бұрын
Thank you! I'm happy to help!
@final_1233 жыл бұрын
Thank you. I really appreciate these lectures.
@lasushi49999 ай бұрын
I was so frustrated and confused with this and it mostly cleared things up thank you!
@DrAzevedoEcon9 ай бұрын
You're welcome! I'm happy to have been able to help.
@flaviot522610 ай бұрын
Thank you Dr. Azevedo you're quite right t way you teach it is brilliant very understandable
@DrAzevedoEcon10 ай бұрын
You're welcome! Glad the videos are helpful!
@NamanSharma-yc8uy3 жыл бұрын
Sir great way of and teaching and u have a perfect knowledge of this subject your vedio is really helpful but sir u had made vedios on some topics(chapters) so, sir it would be more helpful if u uplode more vedio Thankyou sir
@DrAzevedoEcon3 жыл бұрын
I have videos on many of the concepts that would be in a principles of macroeconomics or microeconomics course. Make sure to visit my channel and click on the playlist link. I may be uploading more videos in the future.
@elle88523 жыл бұрын
Thank you Sir for this approach ..i finally got it!
@nhathan428 Жыл бұрын
thank you so much sir! Your lecture is so amazing and easy to understand
@DrAzevedoEcon Жыл бұрын
You’re welcome!
@anaspradhan6924 Жыл бұрын
Thank u sir. Love from Bangladesh
@DrAzevedoEcon Жыл бұрын
Thank you!
@letranmyduyen65832 жыл бұрын
Thank you Sir 🥰 your videos help me a lot
@Miss-Curious1283 жыл бұрын
Thank you sir for clear explanation.
@youthlife6419 Жыл бұрын
Wow!! very good teacher thank you
@DrAzevedoEcon Жыл бұрын
Thank you....glad to be of help.
@asiepetjoan30672 ай бұрын
You are a good tr
@saacidomar87522 жыл бұрын
Unquestionably you are my best Economist of all time i 💓 and enjoy your Lectures But there is no Utility Chapter in the playlist can you upload it plz
@tushiyakey9677 Жыл бұрын
thank you so much. this is helping me big time
@DrAzevedoEcon Жыл бұрын
Very happy to have helped!
@user-xr4iv3pw4s2 жыл бұрын
I love you, sir
@Gioppp Жыл бұрын
straightforward ! great
@DrAzevedoEcon Жыл бұрын
Thanks!
@motivationdr19 ай бұрын
❤i do self studies from this videos thank you sir
@DrAzevedoEcon9 ай бұрын
You're welcome!
@flaviot522610 ай бұрын
Thank you Dr. Azevedo
@DrAzevedoEcon10 ай бұрын
You're welcome!
@kensshee2 жыл бұрын
Thank you so much professor!
@TomasBlynas-yd2qf2 ай бұрын
Thanks!
@DrAzevedoEconАй бұрын
Happy to be able to help!
@monlin9429Ай бұрын
I Love that ❤
@Maalim-h5q Жыл бұрын
Thank you, now I have understood well😊❤️
@DrAzevedoEcon Жыл бұрын
Happy to help! Thanks for watching!
@albertanaaquayetey9 ай бұрын
Thank you. I really do understand the PED formula. You did a great work by coming up with that formula ☺️ ✌️🙏
@mayasaqr14463 жыл бұрын
thank you so much professor!
@seson1615 Жыл бұрын
Should've went with a red marker, professor. But this was very helpful
@ravzadogan59583 жыл бұрын
thank you sir!!
@KnobtownSkiffleBand3 жыл бұрын
You're very welcome!
@CassMorris784 Жыл бұрын
Thank you so much!
@Muskan-ee3ml2 жыл бұрын
thankyou so much sir!
@calebkeyebieye8039 Жыл бұрын
Wow this is wonderful. Please sir how can I get to you for classes in preparation of my GCE advance level 2023-2024?
@DrAzevedoEcon Жыл бұрын
I actually teach Principles of Macroeconomics and Principles of Microeconomics online every summer at the University of Central Missouri.
@skjanitorial2 жыл бұрын
Thank you 😊
@caharahit4 ай бұрын
What a video
@sureyabell2082 Жыл бұрын
Thank you!!
@DrAzevedoEcon Жыл бұрын
You're welcome!
@kylejulius95962 жыл бұрын
Thanks for the content! What book is this based on?
@keeanshank Жыл бұрын
Principles of microeconomis
@Nestng331qwdxsrr3 жыл бұрын
I hope you have courses online
@savvylofi7596 Жыл бұрын
The accent when he says measure is so cuteee 😩🥵
@DrAzevedoEcon Жыл бұрын
Ha! That's my Missouri Ozarks accent coming through.
@mercycheruto40292 ай бұрын
🎉
@byukusengeyvette59828 ай бұрын
what is the value of that 20 we are using alwys
@DrAzevedoEcon8 ай бұрын
I'm not sure what you are asking here....can you be more specific?
@motivationdr19 ай бұрын
❤
@DrAzevedoEcon9 ай бұрын
👍
@afridialam85779 ай бұрын
Screen in blurr but lacture is awesome
@DrAzevedoEcon8 ай бұрын
You should check the playback settings for the video. The screen shouldn't be blurry.
@mudrikasinghal45892 жыл бұрын
28:15
@ahadamin73612 жыл бұрын
44:44
@Mansi_Saluja8 ай бұрын
Thankyou very much professor...❤❤ I am very grateful to you😊🤍