Elasticity of Demand- Micro Topic 2.3

Рет қаралды 3,617,541

Күн бұрын

Why don't gas stations have sales? I explain elasticity of demand and the differnce between inelastic and elastic. I also cover the total revenue test and give you a little trick to remember it. Thanks for watching. Please subscribe.
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@justtash9856 7 жыл бұрын

I can just picture everyone in an exam putting their arms up and down😂😂😂😂

@zachprice355 6 жыл бұрын

I'll be **Yawning** during my exam a lot tomorrow

@moyera9190 6 жыл бұрын

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@lol_manu123 6 жыл бұрын

Natasha Cristo in their innerwear ?

@chingstayzennie_moaroha 5 жыл бұрын

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@thatwickedbastard 5 жыл бұрын

lol

@benmoore5539 4 жыл бұрын

This was my entire chapter 4 study guide, presented in 6 minutes and more coherently than anything my professor has managed so far. Thank you🙌🏻

@tylermanev1447 3 жыл бұрын

Took my professor 8 videos to explain what this man explained in 6 minutes.

@arvinmerquita5202 Жыл бұрын

Matthew 6:19-21 [19]Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: [20]But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal: [21]For where your treasure is, there will your heart be also.

@arvinmerquita5202 Жыл бұрын

@@tylermanev1447 Matthew 6:19-21 [19]Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: [20]But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal: [21]For where your treasure is, there will your heart be also.

@arvinmerquita5202 Жыл бұрын

@@tylermanev1447 Again, the kingdom of heaven is like unto treasure hid in a field; the which when a man hath found, he hideth, and for joy thereof goeth and selleth all that he hath, and buyeth that field. Matthew 13:44

@arvinmerquita5202 Жыл бұрын

Matthew 13:45-46 [45]Again, the kingdom of heaven is like unto a merchant man, seeking goodly pearls: [46]Who, when he had found one pearl of great price, went and sold all that he had, and bought it.

@vinayak186f3 3 жыл бұрын

Welcome to another episode of He teaches better than my teacher . 🤣

@sktalentsanjay494 3 жыл бұрын

Haha 😂

@kimahenchoohee4224 2 жыл бұрын

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@bob_fromtv 2 жыл бұрын

yeah i will take that

@TheSilentWalkerz 4 жыл бұрын

I swear I can't lift my eyes open for my University lectures, this guy makes it simple and interesting to learn economics. Love it.

@Almalk1 10 ай бұрын

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@AliceVifa 9 жыл бұрын

this guy is hilarious making econ easy. I have a mid exam coming up and literally just learnt a 2 hours lecture in 6 mins.

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@iam_A10 8 жыл бұрын

+alice vifa Cool

@LilGsInc 8 жыл бұрын

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@hasnatmehmood6746 7 жыл бұрын

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@riteshprasad6765 7 жыл бұрын

agree

@normjones8867 8 жыл бұрын

5:24 I did this while doing my exam, few people looked at me funny the best part was I was not the only one who did it

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@javierellerbrock5797 Жыл бұрын

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@funforsameer1769 5 жыл бұрын

This proves how everyone learns differently. My professor was teaching this during a 3 hours lecture yet I was lost af. After seeing this, and a bunch of this amazing guys videos, it all makes so much more sense now! Thankyouu

@helen5732 2 жыл бұрын

And just within 10m Do we wasting our time and money? 🤷‍♀️🤷‍♀️🤷‍♀️

@Apoco_si_tu 2 жыл бұрын

I fell asleep during my 3 hour lecture. Didnt blink an eye for this one though.

@emmanuelnsiah8036 2 жыл бұрын

My teacher was rushing to teach us that I didn't understand it

@gamesboi275 8 ай бұрын

professor was teaching you igsce knowledge????

@boomshakalakaxo 7 жыл бұрын

the bonus bonus round WAS VERY HELPFUL THANK YOU SIR

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+boomshakalakaxo

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I was so nervous about remembering the bonus round till the onus bonus round. That helps soo much.

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same here

@MarBarkins 6 ай бұрын

And the reason you ace it the next sem

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@@MarBarkins exactly!

@stevenlomon 3 жыл бұрын

This is all genuinely ten times more clear in my head after 3 minutes of this than 2 hours over a zoom lecture. The internet is a wonderful thing

@BottledBlueOnYouTube 8 жыл бұрын

Your videos are keeping me from going insane this exam season. THANK YOU!!!!!!!!

@JacobAClifford 8 жыл бұрын

+BottledBlue +BottledBlue You are very welcome. Please tell your friends....and don't go insane

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I love your user name and same girl these videos are what keeps me sane

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@JacobAClifford 8 жыл бұрын

+TallTyrionLannister Wow. Thanks so much. I appreciate your kind words. It makes me want to make more videos...like today.

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I love how u hugged the tree, its nice too see, that people who are brilliant in economics do indeed care about our environment. Your videos are great! With your motivating manner, really engageing on the watchers of your lessons you achieve what most teachers don't: With a lot of passion you make it interesting, easy to follow and you connect the right things together to form the bigger picture. Keep up the good work! Namaste ;)

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Me too.I like it

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@katienichols8007 8 жыл бұрын

I'm a freshman in college and I have my first microeconomics test tomorrow...i have been worried and horribly confused about what I've been learning...especially with demand and total revenue....YOU JUST MADE MY LIFE SO MUCH LESS STRESSFUL, AND I certainly feel like my future just got a little brighter! I will be coming back to your videos for the rest of this semester! thanks for making it so clear and simplified...and funny!!!

@JacobAClifford 8 жыл бұрын

+Katie Nichols Yeah!!!

@patrikkorda 9 жыл бұрын

Making economics easy: Mission Accomplished.

@JacobAClifford 9 жыл бұрын

Thanks. I appreciate it.

@abdulhamidalalimi3281 2 жыл бұрын

@@JacobAClifford Please super hero economy expertise help me to solve this question AThe Elasticity impact over different types of goods?

@mervin5291 Жыл бұрын

No tutorial can ever be this crystal clear and understandable ✊🏾

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I remember when you were helping me study for my AP macro exam in 2018 and now you are helping me study concepts for my CPA exam. Always coming back to the best!

@mandyho6316 8 жыл бұрын

He is a hero! Why can't professors teach like this?

@JacobAClifford 8 жыл бұрын

+Mandy Ho Why can't my students be as appreciative as this? :)

@imgonnatellmom3245 3 жыл бұрын

Lol

@truth_seeker2804 2 жыл бұрын

@@JacobAClifford I appreciate you professor. Now we are about to present popato chips company and my part is about price elasticity of demand and non-determinants of supply. Thank you professor)))

@vanessaamaki3898 8 жыл бұрын

It's amazing how you summarized 70 slides into 5 minutes...thanks a lot☺

@vanessaamaki3898 8 жыл бұрын

I mean 6 minutes😄

@teressaladyofsteel9305 2 жыл бұрын

Love watching these videos , I was explaining this to someone earlier today and reason why I remembered it was thanks to this video. Thank you, for helping us to relate better to the theory.

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@ashleyrichardson74 5 жыл бұрын

Hey, professor i just want to say thank you for helping me In both macro and microeconomics i pass both classes with flying colors and I'll be graduating this year. Thank you again for everything. God bless

@zeineelshishiny5838 6 ай бұрын

Hi bro, where are yo know , did u graduate?

@nicebars 7 жыл бұрын

This guy would be a great salesman.. shit, he'd make a great rapper too

@Rocilokiful 6 жыл бұрын

niknatural He should make raps about economic topics. I would watch them, learn them and show them to my professors. 😂😂😂😂 that would be so cool 😎

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he would make a good comedian, at least he makes me laugh.

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Man, I have never ever before seen a man explaining economics so perfectly and in a simple way. Bravo.

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Professor looks at me like I was on drugs when I stood up and raised both my hands over my head...Then he said, AC/DC econ? I chuckled, and said, yep.

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Couldnt you just picture it in your head? ... ahhh you kids

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that happened

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r/thathappened

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that totally happened

@daddyshrek747 5 ай бұрын

Its crazy how this video is still helping me after so many years of being uploaded. Thank you for a fun yet educative video. Better than lots of faculties I know from my college.

@amirulhakim4910 4 жыл бұрын

Merry Christmas Professor! Glad to see to this kind of video. You're very SUPERB Economy teacher that I've been watched on KZfaq. Wish me luck on my Economy paper two weeks from now.

@rara1721 6 жыл бұрын

I just wanted to tell you how much I appreciate your videos. As much as I'm enjoying Eco, I'm struggling really badly in class when the teacher goes at lightspeed pace and makes it much harder than it should be. I'm doing my MBA and this is saving me. Your videos are like a warm hug at the end of a long day saying "it's ok....everything is going to be ok!". THANK YOU SO MUCH

@Titaniumbunny24 7 жыл бұрын

Thank you thank you

@nefriius5325 4 жыл бұрын

Honestly just improved my economics mark. What you've explained in six minutes makes more sense to me than my professor explaining it in two hours. Thank you.

@sheyennemitchell-brown8526 3 жыл бұрын

This video helped me so much!! I was literally on the verge of tears when I was doing my econ homework because I couldn't understand the textbook, but this made so much sense to me. Thank you so much for the explanation and for giving me a good laugh.

@sofiachiaramonte735 7 жыл бұрын

Oh my gosh I have a micro test tomorrow and I'm binge watching all your videos! Thank you so much!

@strattonmortensen5031 8 жыл бұрын

I've been watching these videos since my senior year of high school. As a freshmen in college now, I see students who struggle grasping the concepts in review sessions or after lectures, I've been doing my best to forward them here. Thank you for all the hard work you put into these videos myself and my classmates wouldn't be nearly as successful without you.

@JacobAClifford 8 жыл бұрын

+Stratton Mortensen Thanks Stratton for sending your friends to my channel. I'm glad I am able to help.

@janetheobscure3426 4 жыл бұрын

Thank you so much for giving free education! Although I have to go back and repeat what you're saying multiple times to understand, I eventually get it! I just have to carefully try to explain it to myself to see if I understood it.

@lukadavidjaic1910 3 жыл бұрын

You should teach teachers how to teach

@danacsira7945 5 жыл бұрын

I just wanted you to know that you are the main reason I’ve made it through micro and macro at college level. Thank you. You’re awesome.

@keshiakimpossible3657 6 жыл бұрын

thank you for helping me study for my exam that I thought I had no chance of passing, you simplify the content of my text book and make it so much easier to grasp! I don't know what I would have done without this channel!

@kiranmalandkar1283 Жыл бұрын

😍

@user-zf1gd2oy8t 9 ай бұрын

Just watched this to prepare for my econ mid term...6 mins and the man was able to do something that my prof couldn't do in 3 hours...Respect

@sanchezcynthiacs Жыл бұрын

Thank you!! Your video was great, and that bonus round hint was incredibly amazing. I had read the chapter on elasticity and my professor's PowerPoint notes but this video is the reason I understand the concept.

@jacobthouseholder 9 жыл бұрын

I love these videos! I'm glad I've found something that makes me laugh and learn at the same time! Really helps when I'm ticked at my homework haha. Thanks so much!

@carlangeloangcana5372 9 жыл бұрын

I have hyperactivity problems but I am starting to love Econ since I've watched your interactive videos. Thanks a lot, Sir!

@lillianbrown0704 9 жыл бұрын

+Carl Angelo Angcana same here! He makes it easy to learn and follow along!

@Akkesama 4 жыл бұрын

Your videos helped me doing AP Econ in high school and now they're helping me for my master's degree. thanks for making them!

@PartnerWithAngela 3 ай бұрын

One of the best tutorials, imaging cracking up while studying economics, the tip at the end is priceless. thank you so much

@kuangtan2004 8 жыл бұрын

Wow, that final techniques to differentiate elastic & inelastic

@stang1892 5 жыл бұрын

the last part on the "I" was amazing. I kept confusing the two conditions of elastic and inelastic prior to this video. Midterm tomorrow! Thanks!

@kosinwagbara201 3 жыл бұрын

This is a life saverrrrrr. I have been reading this for 8 hours and got nothing. 3 mins into this video and now I’m explaining it like a professor

@user-lh8vt6qp6d 4 ай бұрын

one of the best KZfaq teachers! You made it so much simpler! Thank you!

@yappykaki 8 жыл бұрын

This is awesome, when I revise those slides from uni, I get so confused and it made me don't want to continue, but then I found these videos to clear up all the concepts and each of them just lasts 6 mins!!! Totally efficient and wonderful!!! Thank you!!!

@JacobAClifford 8 жыл бұрын

+Kaki Yau Thanks Kaki. There are a bunch more videos on the way

@user-df5ii7hp3b 6 жыл бұрын

Honestly thanks so much for your content, appreciate it so much that you go out of your way to help people learn and do well in their exams.

@econartist5104 4 жыл бұрын

Thank you for creating and posting these! One of the things that I think is interesting is if the demand curve is not linear then that would mean at different points the relationship along the demand curve could be inelastic and at other points it could be elastic

@oisincraninx-l.6930 3 жыл бұрын

You know what's good with your videos compared to others? You keep us awake when we pull an all-nighter

@therubberduckygunner 6 жыл бұрын

That ACDC belt though O_O lmao this man is saving my final grade in micro

@jindapornasairat7704 9 жыл бұрын

I'm really having a hard time in my economics class , and your video helps me a lot. Thank you so much for making such a wonderful video. :)

@hansiniabeygunawardhana8715 2 жыл бұрын

OMG! Thank you so much sir.. This is unbelievable .. You have teach an entire pdf with 58 pages in just 6 minutes... And I got a really good understanding about elasticity in just 6 minutes... Thank you so much!!!!

@jarrydjackson361 2 жыл бұрын

I enjoy this channel and your videos. Your style of teaching captures my attention. It's informative, entertaining, and easily digestible.

@user-uu9ou4rj9p 8 жыл бұрын

Glad to have found your channel a few days before my mircoecon final. Your're Awsome.

@squiz4465 7 жыл бұрын

Dude you are seriously brilliant. Im a marketing major but i need to minor in econ to expand my employability and your videos have really helped me. Thanks

@e281tangy 4 жыл бұрын

" I'm not walking, I'm an American" hahaha. I logged in just to comment and like

@wallamazoo01 3 жыл бұрын

I rode a bike to work for 3 years at one time, no gas but the upkeep on the bike was relative to the amount I used it. My expenses were ultimately the same over the period of time.

@bird_obsession 3 жыл бұрын

I hate hearing people from other countries talking about us Americans like this, but for some reason, it's funny when an American says it

@user-iq7fr6gi4m 10 ай бұрын

hii im new to econ and i gotta say this video helped me alot specially the "bonus bonus" round it helped me differentiate inelastic and elastic demand, thank you sm!

@macarioosuna751 8 жыл бұрын

That helped so much. I can finally understand this topic. I read my text book chapter on elasticity and understood nothing. Thank you, keep it up!

@ridakausar4320 7 жыл бұрын

That moment he says ""innneelaastic".I spit my coffee. XD

@mampheellogracerakosa4372 4 жыл бұрын

His facial expression to that "innnneelastic" 😂 priceless and funny

@guilhermepestana8927 3 жыл бұрын

"you just don't jump on your car when the prices go down and rev your engine" Every dad in the world: Hold my beer

@affafelsaid5082 6 ай бұрын

I usually never comment on KZfaq videos but I had to in this one. This was really easy and very helpful. Lots of love from Egypt.

@meadowy4974 5 жыл бұрын

I spent so much of my time reading the textbook on Elasticity and could not wrap my mind around it, but In just 6 minutes you explained it perfectly. Thank you so much Q u Q

@JacobAClifford 5 жыл бұрын

You are very welcome

@eangdaniec8515 8 жыл бұрын

Thank you for existing!

@perlahamilton6314 2 жыл бұрын

I just want to say i am 41 and in college and this video was so well explained I actually understood , lol I don’t know how to tell someone back if they ask me to explain it lol but your arm trick really helped. You rock!!!! Thank you!!

@carlossuastegui7984 4 жыл бұрын

Amazing videos! Would up love to find these when I was at University, still enjoy to review the concepts. Thanks, keep doing this, please!

@alexzander5679 7 жыл бұрын

thank you, you've saved me, just found the channel going to be using it from now on. Hello from England!

@iSmifflesHabbo 8 жыл бұрын

This was really helpful, thanks!

@JacobAClifford 8 жыл бұрын

+Angie you are welcome

@thanulipanditha2539 8 жыл бұрын

+Angie omg jin

@ignatiuslwendo9866 7 жыл бұрын

ACDCLeadership thanks for video

@hasnatmehmood6746 7 жыл бұрын

+Angia u are right......

@alexsisventer611 Жыл бұрын

This is great! I'm showing it to my business calculus class after we introduce the formula using derivatives. I think it will help them understand what they're actually doing mathematically!

@xishelly6485 4 жыл бұрын

Oh Sir you make me think high school Eco is no longer boring. You are a fantastic presenter!!! Thank you!!!

@veronicahudon9055 8 жыл бұрын

Love the I thing and the easy way to remember inelastic and elastic TR correlation to price. I kid you not I took notes on this video and am including them with my regular class notes.

@jackjo2739 3 жыл бұрын

I missed class for this topic, but guess what you just covered everything in 6 minutes! Thanks!

@ashraf8652 2 жыл бұрын

7 years later and it's still really helpful. Thanks a lot Jacob.

@andrewhaws6066 3 жыл бұрын

This is awesome Mr. Clifford. I am sure you help a lot of people (including me) with this!

@TheMreminemguy 8 жыл бұрын

I really wish KZfaq opens it's own school of teachers in a couple of countries, with all classes being online and broadcasted in all schools at once. KZfaqrs like this insane guy here should teach different subjects. IMAGINE! Minutephysics or VSauce teaching science, etc etc. Hmmm dreams:((((

@JacobAClifford 8 жыл бұрын

+Shaunak Sharma This is great idea. Let's do it. Call VSauce and Minutephysics:)

@Dieskull1000 8 жыл бұрын

+Shaunak Sharma VSauce should teach philosophy, Minutephysics at of course Physics. But for Econ, Bio, History, CrashCourse all the way, lol. Not sure about the others do. Maybe anonymous can teach computer science haha.

@TheMreminemguy 8 жыл бұрын

No dude this guy is good for Eco, Crash Course is good for psychology, bio and history tho I agree

@Dieskull1000 8 жыл бұрын

Shaunak Sharma cuz Clifford is part of Crash Course econ now, co-host with another person

@jamnallcute 3 жыл бұрын

Honestly when our prof teacher for more than an hour. I'm so lost even though im listening, I can't take down notes because i do not understand what they are presenting. Thank you so much for this.

@analuizaamorim3568 3 жыл бұрын

This video is the best one you ever made!! I logged in just to commend a thank you and like the video. I never laughed so hard at a "iiiinelastic" and " eeeelastic"!!! love it thank you so much

@almond7136 5 ай бұрын

i got a micro midterm tmw and THANKFULLY i found this video, the way he explains stuff makes it so much simpler

@ShonTolliverMusic 7 жыл бұрын

Now that's how you get a subscription from me. I may have to watch this about 3 more times to get it all in (very face pace here) but good content.

@agnieszkatwardosz5106 7 жыл бұрын

0.75 speed for me in the second half of the vid... ;)

@dianedadabaeva2173 8 жыл бұрын

I love it. The way How you talk and explain. Its fun definitely better than those boring statistic explanation. Thank you

@JacobAClifford 8 жыл бұрын

+Dianne Nodira You are welcome Dianne

@AmmarBinAman Жыл бұрын

Incredible Teacher! Cant understand how des[ite 8 years, his videos are still stupefying! This guy should be the head of education

@yusrawaziri7708 4 жыл бұрын

I'm obsessed with your videos. Economics made easy. Job well done.

@rodgallardo7 5 жыл бұрын

My professor focused a lot on the midpoint formula, and I know a lot of my other friends at other universities are studying it as well, I think it would be very helpful to have a video as a reference

@retrogirl53 9 жыл бұрын

OMG god this guy is amazing ..i wish my micro economic teacher would be like this but honestly this videos are helping me a lot preparing for tomorrows micro exam! Thanks!

@Sammy34H 9 жыл бұрын

My thoughts exactly

@obhenx 2 жыл бұрын

Where have you been in my life, Prof..??????? this is awesome!!! thank u so much...

@pickme7307 2 жыл бұрын

can we just appreciate that this man does all this for free? watch me ✨flourish✨ in econ this year

@shawnsun49173 8 жыл бұрын

The bonus bonus round is very helpful.

@hannahwisti4114 5 жыл бұрын

just so you know, you're literally saving me. (: whole 4 credits of micro econ in 1 month, rough.

@jaykadam3704 4 жыл бұрын

I have never seen such an interesting explanation ever before, Thank You so much!

@rosejiang7905 Жыл бұрын

Thank you so much for such amazing video. The explanation is simple and the concepts really stick to my mind. I'm having midterm in microeconomics next week. I swear this video helps me a LOT, a LOT!!!!! big big thanx!!!!!!!!

@dmonarredmonarre3076 5 жыл бұрын

Literally all the comments: "Wow, thanks for summarizing what my professor took 4 lectures to go through."

@hongngoctran9217 5 жыл бұрын

I just had to pause the video to give this a like when he hugged a tree lol

@zavayapullo2474 4 жыл бұрын

You are a savior sir. You’re doing a better job than my Ivy’s professor. it been a week since I discover your channel. I love your explanations, it made me understand better. 🍂🍂🍂 thank you 🙏🏿

@danieljames9647 4 жыл бұрын

The examples you gave, Gasoline and Burritos, was all I needed to understand the concept...professors these days just dont know how to add a simple little application to their teaching. Thank you sir.