Episode 16: Elasticity of Demand

  Рет қаралды 835,865

mjmfoodie

mjmfoodie

15 жыл бұрын

We know that consumers will react to price changes, but how MUCH will they react? Knowing this is important to business owners and policymakers.
"Episode 16: Elasticity of Demand" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

Пікірлер: 303
@Mayugecat
@Mayugecat 8 жыл бұрын
WHY CAN'T ALL ECON PROFESSORS TEACH LIKE THIS T___T YOU ARE AMAZING
@AmosDomingo
@AmosDomingo 8 жыл бұрын
+Mayugecat Hahaha. I feel you!
@GoooboopTT
@GoooboopTT 10 жыл бұрын
This explains the concept beautifully in 10 min compared to my teacher's 1 hour of explaining on class.Thank you!
@BV7626
@BV7626 8 жыл бұрын
Thank you on behalf of 400,000+ college students.
@Khonic23
@Khonic23 6 жыл бұрын
Bayilani Vidal LOL no kidding
@colmania1
@colmania1 6 жыл бұрын
Bayilani Vidal and highschool students like me 😁😂
@rohannokiachambers9369
@rohannokiachambers9369 4 жыл бұрын
Lol
@obijuan__
@obijuan__ 3 жыл бұрын
lmao 5 years later and this is still great
@harleymarco1077
@harleymarco1077 2 жыл бұрын
I guess Im randomly asking but does any of you know a trick to log back into an Instagram account..? I stupidly lost my login password. I appreciate any tips you can offer me
@theHEATHERandMAX
@theHEATHERandMAX 9 жыл бұрын
This is so much more clear and easy to understand now! It's really just big words but with simple concepts. :)
@archivedfootage9604
@archivedfootage9604 9 жыл бұрын
Max Deyoung well done mate
@salomeloera8899
@salomeloera8899 6 жыл бұрын
Just saved me as a nurse working through a healthcare economics class for my doctoral program. Thank you so much for your amazingly clear, engaging explanations and video!
@JennzOrs
@JennzOrs 9 жыл бұрын
I get so distracted by how cute the art in these videos is that I have to watch them twice to understand the concepts. great videos, thank you :)
@schan3675
@schan3675 9 жыл бұрын
The time you take in drawing all of those diagrams is really appreciated because it helps me understand it so much better. Thanks so much !
@imjustachu
@imjustachu 9 жыл бұрын
THANK YOU SO MUCH, this explanation is amazing and simple. thanks for the illustration and using complete sentences plus simple terminology.
@Classyrican
@Classyrican 10 жыл бұрын
Seriously, wish I had you as my professor. You have the ability to make something so complex into something very simple and easy to understand. I'm doing great at ECON thanks to your videos.
@vinatious
@vinatious 13 жыл бұрын
Thanks for the video. Its a lot easier watching this than reading a textbook.
@DoolallyProductions
@DoolallyProductions 8 жыл бұрын
Thank you, easy to understand. Trying to follow my Econ instructor is like a dog trying to follow Hawking explain Quantum Mechanics.
@IHAVE1ARM
@IHAVE1ARM 11 жыл бұрын
I'm studying engineering so these concepts are pretty far away from my zone of comfort: when I started looking at these things I had no ideia what they meant. Thanks to your video, I feel much better. Thank you.
@Sahithi1709
@Sahithi1709 7 жыл бұрын
superb.... she explained so nicely
@rehaanmahmud4038
@rehaanmahmud4038 7 жыл бұрын
You seem like one of the best teacher.
@bennetterobles5523
@bennetterobles5523 4 жыл бұрын
The speed and clarity of your explanations suits me perfectly. Thank you
@YourAverageNewYorker
@YourAverageNewYorker 10 жыл бұрын
I just love how I can't understand the majority of my 2 hr micro-economics lectures but I can understand it just fine in a ~10 minute KZfaq video. I wish you were my professor!
@1977sjn
@1977sjn 12 жыл бұрын
I am an Economics teacher in Dubai, UAE. I would highly recommend this video not just for students but for teachers as well.!!! "You can never stop learning" and I just did after I viewed the video. Good work!!
@asifhossaintamim
@asifhossaintamim 8 жыл бұрын
You taught the lesson so well in couple of minutes that my university lecturers failed to do in a whole class . Hats off to you :)
@ruejules8348
@ruejules8348 7 жыл бұрын
So much better than our arrogant Economics teacher. Ugh >_
@bae2603
@bae2603 7 жыл бұрын
Steven Cookie you said it!! ours always asks us questions when we dont even understand her discussion
@jpc_337
@jpc_337 7 жыл бұрын
lol we must have the same ECON teacher guys. that's why we're here!
@MohdMazli98
@MohdMazli98 6 жыл бұрын
Guys can i join ya
@joshuaching4641
@joshuaching4641 9 жыл бұрын
Hi, Thank you so much for putting this up! I was really struggling with my assignments due to the technical jargon in the textbook, but your explanation is so easy to follow and informative! I am well on my way to finish the assignment! Thanks again!
@josuahunt19
@josuahunt19 11 жыл бұрын
What makes this video superior to all the other economics videos on KZfaq, is that they say the same thing the book says, by using Economic terminology to explain something confusing. you explain thing as if you understand the troubles of comprehending this material thank you.
@playfulPai
@playfulPai 10 жыл бұрын
You are seriously the best teacher ever!!!! I did not know this stuff could be this easy as well. thanks thanks a lot PLEASE keep up the good work
@PwNStaaRR
@PwNStaaRR 14 жыл бұрын
This is the BEST, so many examples which are GREAT...
@joelbu08
@joelbu08 9 жыл бұрын
Lady... YOU ROCK!!!! Thanks for the video!
@suzankhumalo2143
@suzankhumalo2143 7 жыл бұрын
Thank you so much I learnt a lot and your usage of examples is excellent
@shuyi1029
@shuyi1029 7 жыл бұрын
it is quite clear for me! thanks a lot
@ItsMeJackyD
@ItsMeJackyD 9 жыл бұрын
Thank you! Really. Before watching this, I didn't understand absolutely nothing about Elasticity and you made it so clear!
@renijayasankar8027
@renijayasankar8027 6 жыл бұрын
OMG!!! breath-taking explanation....kindly continue..
@tonysullivan9552
@tonysullivan9552 9 жыл бұрын
I'm currently taking my masters in business and this video was truly an exception teaching aid. It made my understanding so much better.
@nathanmoriarty66
@nathanmoriarty66 11 жыл бұрын
I have absolutely no idea how I found myself here, but your voice is lovely and I just learnt something new. Thank you.
@BrandonTLuong
@BrandonTLuong 11 жыл бұрын
As many times as I have taken an economics course, your video has by far been the clearest, well explained and interesting. Great video!!!
@perspicuousenigma311
@perspicuousenigma311 8 жыл бұрын
This is an awesome video, the other two I looked at were TERRIBLE! Thank you for making such an accessible video!
@oshinsharma7398
@oshinsharma7398 7 жыл бұрын
I will score a 100/100 if my teacher teaches like that ! AWESOME! I have my exam tomorrow and god thank you! Please make more videos if you can. You can make my GPA!
@lisfong
@lisfong 11 жыл бұрын
Thank you! This was extremely helpful! I took micro and macro econ in college, did really well in both, but 6 years later I'm taking a graduate level econ class. I have to say you explained it better in 10 minutes than the professor did in an entire lecture! Thank you :)
@seadragon36
@seadragon36 12 жыл бұрын
I appreciate the concrete examples from the news, the anti-teen smoking price increase and the NY milk price floor in Episode 15 -- it's helpful to see the complexity and unintended consequences of implementing these theories. Thanks for these great videos!
@unhingedsweetheart
@unhingedsweetheart 7 жыл бұрын
my professor is a dunce , thank you so much for speaking human english, this man just speaks garbage into my ear drums
@Bathing824
@Bathing824 10 жыл бұрын
Better than my teacher. Thanks a lot. Keep up the good work
@mjmfoodie
@mjmfoodie 14 жыл бұрын
@Mrbalaatyt That would be the midpoint formula of elasticity -- the issue is that if you calculate the elasticity from point A on a demand curve to point B on a demand curve you will get one value; if you calculate from point B to point A, you will get a different value (because you've changed the denominator). The midpoint formula resolves this (OK, it kind of fudges it) by calculating the AVERAGE of the new & old: (old + new/2).
@dramagalkay
@dramagalkay 13 жыл бұрын
This is really helpful. It is a lot easier to understand than how my lecturer puts it.
@testchannel7747
@testchannel7747 7 жыл бұрын
Amazing video! Thank you so so much! :D
@rafehbaig9724
@rafehbaig9724 10 жыл бұрын
I wish my math teacher would explain the concepts behind all these formulas that we're learning lol It pisses me off so much to not know why the f I'm memorizing these formulas and practicing them without actually knowing what exactly its used for, thank you for making this video to explain it so simply most other youtube videos explain in the boring way possible
@sensus5459
@sensus5459 9 жыл бұрын
I keep thinking the same thing xD
@TheRoughjeans
@TheRoughjeans 8 жыл бұрын
love your teaching :) helped me recap much faster than any textbook. also, amazing illustrations!
@naughtypleasure8712
@naughtypleasure8712 3 жыл бұрын
Wow just discovered your channel and I can't stop watching your videos, excellent work thank you for creating this amazing channel🙏
@shahlahemmati6206
@shahlahemmati6206 3 ай бұрын
That was a great explanation for elasticity. Thanks so much!
@amyfilms
@amyfilms 14 жыл бұрын
Love these illustrations! Great explanation.
@18steps
@18steps 11 жыл бұрын
wooo this video spoke to me with clearity and understanding! I am a visual learner and this video really made me see clearlly
@neettim
@neettim 8 жыл бұрын
wow that was so easy to understand! You really taught this topic well in this video, so thank you!
@lalakwatsera.__
@lalakwatsera.__ 14 жыл бұрын
You are a very good and LIVELY Economist. Because you teach fast with animated and simple illustrations which helps us understand more and clearly about the topics that are given in our economics Class. :) 5 stars for you.
@josephyang2020
@josephyang2020 7 жыл бұрын
Thank you!
@PaperNights
@PaperNights 11 жыл бұрын
Watched one video and I can tell these are so much better than my lecture notes
@nandonellina
@nandonellina 10 жыл бұрын
Great 9 minutes of my time!!! Great job!
@rachadiwan9442
@rachadiwan9442 5 жыл бұрын
Thank you for bringing so much clarity to the topic!
@unrivaled37
@unrivaled37 13 жыл бұрын
Thank you for posting these videos! They are helping me study for my AP Micro/Macro exam this coming thursdday!
@dongordito00
@dongordito00 Жыл бұрын
I'm taking a macroeconomics class and your videos have greatly helped me. Subbed!!
@nyreehinton1767
@nyreehinton1767 9 жыл бұрын
Im in college Econ and this was so much more helpful than how my professor explained it. Thank you.
@TopThrillDragsterNut
@TopThrillDragsterNut 9 жыл бұрын
Me, too. I recorded elasticity as "having more choices" in my notes from lecture, which does nothing for my understanding. This video is great.
@gabrieldumulon5538
@gabrieldumulon5538 11 жыл бұрын
Great video. I never understood this in class but now everything is so much clearer.
@annakotlikov7846
@annakotlikov7846 10 жыл бұрын
You are an amazing teacher, you trump like 20 other video tutorials I've watched! Subscribed!
@WAJAME1
@WAJAME1 9 жыл бұрын
Outstanding presentation! Thank you so much for the clarity, I'm now better prepared for my assignment.
@caribbeanqueen1389
@caribbeanqueen1389 11 жыл бұрын
I LOVE YOUR CHANNEL!!!! YOU MAKE COMPLICATED THINGS SIMPLE..... PERFECT :)
@n4rcissiq
@n4rcissiq 3 жыл бұрын
im going for my semester 1 o levels exams in two days THIS HELPED A LOT THANK YOU SO MUCH
@TheSarahSombrero
@TheSarahSombrero 11 жыл бұрын
This video is so helpful because you make it so easy to understand. Thank you!
@jelmerwilhelm
@jelmerwilhelm 11 жыл бұрын
Thanks for this vid! I have a economy test tomorrow, this made it a lot clearer!
@BeautybyTaime
@BeautybyTaime 10 жыл бұрын
This was so helpful right now!! Very easy to follow and explained very well!!
@Lucky10279
@Lucky10279 11 жыл бұрын
Thanks for this video! I need to understand this for my economics class and you explain it quite well. I'm still confused by the math part, but I feel that I have a pretty good grip on what it is now.
@jamierichman6574
@jamierichman6574 7 жыл бұрын
Outstanding, this totally makes sense to me now.
@a.k.m.aminulislam2856
@a.k.m.aminulislam2856 9 жыл бұрын
now I understand what is elasticity of demand..... Thnx..
@farokhiddinganiev9017
@farokhiddinganiev9017 7 жыл бұрын
Wow, thats great way of teaching! Thank you!
@b.busola7161
@b.busola7161 7 жыл бұрын
so easy to understand!
@gamercai
@gamercai 7 жыл бұрын
What a great explanation. Thank you so much!
@healy178
@healy178 9 жыл бұрын
Great video! Very easy to follow!
@robertagg7191
@robertagg7191 6 жыл бұрын
you made this so simple!!! Thank you !!
@xynadyne
@xynadyne 11 жыл бұрын
wow i never thought of the equation that way! thank you for the intuition!!!
@lmao13366
@lmao13366 11 жыл бұрын
The formula where averages of quantity and price formula was used is the formula for arc elasticity of demand. As you know there are many methods of measuring elasticity of demand like point elasticity, cross elasticity, income elasticity, arc elasticity. Point elasticity is used in case when the change in demand due to change in price is small, but when the change in demand due to change in price is a little higher, arc elasticity formula gives more accurate result. Hope you understood my point
@keriliusleslie8977
@keriliusleslie8977 8 жыл бұрын
very good video... the explanations are easy to follow
@josephworkman1913
@josephworkman1913 10 жыл бұрын
this was so helpful, you explained things really well. thank you!!!!
@michaeldenham6391
@michaeldenham6391 10 жыл бұрын
Incredibly helpful video, thank you!
@eunseonrochat5414
@eunseonrochat5414 9 жыл бұрын
Your video helps me a lot. Thank you!!
@8texmex8
@8texmex8 11 жыл бұрын
very helpful for my final literally saved me so much time !!
@reyoufmadkhali6609
@reyoufmadkhali6609 6 жыл бұрын
THANK YOU SO MUCH LITERALLY TOOK ME 5 MINS TO GET THE WHOLE IDEA
@kbrainiac
@kbrainiac 10 жыл бұрын
You are awesome! Thanks for the upload!
@okkai
@okkai 11 жыл бұрын
I didn't have time to read this chapter. But I'm more prepared than my fellow classmates now. thank you.
@gjaquish
@gjaquish 11 жыл бұрын
Absolutely Fantastic!
@jrbechthold
@jrbechthold 10 жыл бұрын
Great explanation... and I needed a refresher!
@butterflykisseze
@butterflykisseze 10 жыл бұрын
i love your presentation. you simplified this so much for me, i'm so thankful. it was a headache trying to understand it on my own with these over-complicated textbooks. Thanks and keep em coming!!! can you do a presentation on Government policies ie. taxes, floors and ceilings, GDP.. that kind of stuff?
@thamisukazi9561
@thamisukazi9561 10 жыл бұрын
Well explained, thank you!
@indiefilms111
@indiefilms111 11 жыл бұрын
thank u. you have a nice voice too. It helps me to understand better. thank you again
@meenumeenu4
@meenumeenu4 10 жыл бұрын
This is nice. It helped me understanding intuitive meaning of elasticity. !!
@tourmorrow2837
@tourmorrow2837 6 жыл бұрын
Thank you so much, I just realize what is elasticity of demand. It is so difficult to understand from my lecturer.
@Marcinkonys
@Marcinkonys 12 жыл бұрын
Very good explanation. Many thanks!
@lynjaraparcasio8744
@lynjaraparcasio8744 3 жыл бұрын
Thank you for sharing vedio, its really helpful
@dayjun
@dayjun 13 жыл бұрын
Great lesson, with a beautiful voice to boot ;-)
@korrisha
@korrisha 14 жыл бұрын
wonderful vids keep em coming mjfoody keep em coming u got the best economic notes for real
@lourdesmaeduran5492
@lourdesmaeduran5492 7 жыл бұрын
☺️Thank you so much.. Big help for my quiz tomorrow 😬
@Bahrainiproud
@Bahrainiproud 14 жыл бұрын
I really like it!! Thank you sooo much
@praveenreddykv
@praveenreddykv 14 жыл бұрын
God blessed you with a wonderful voice, and your vocabulary and flow of thought is really amazing, Crisp and concise .... Thanks a Lot, God Bless You.... :)
@elainegrace9518
@elainegrace9518 10 жыл бұрын
You're awesome. This is very helpful.
@heyandy889
@heyandy889 11 жыл бұрын
Great video! I think you are a teacher because you mention how students will react to complicated formulas. I love the cartoons with tiny and big terms in the equations! ^_^
@kjam0
@kjam0 10 жыл бұрын
Keep up the good work, your videos are so helpful
@123popularkidz456
@123popularkidz456 10 жыл бұрын
very well explained and thorough thank you
@naomirose18
@naomirose18 11 жыл бұрын
Brilliant for my degree exam tomorrow! Thank you x
Elasticity - Characteristics that determine elasticity
1:47
mjmfoodie
Рет қаралды 109 М.
Episode 18: Consumer Equilibrium
7:48
mjmfoodie
Рет қаралды 188 М.
Does size matter? BEACH EDITION
00:32
Mini Katana
Рет қаралды 18 МЛН
3M❤️ #thankyou #shorts
00:16
ウエスP -Mr Uekusa- Wes-P
Рет қаралды 15 МЛН
Elasticity of Demand- Micro Topic  2.3
6:13
Jacob Clifford
Рет қаралды 3,6 МЛН
Calculating the Elasticity of Demand
15:52
Marginal Revolution University
Рет қаралды 1,1 МЛН
Episode 15: Price Floors and Price Ceilings
6:02
mjmfoodie
Рет қаралды 325 М.
How To Understand Elasticity (Economics)
5:44
Market Power
Рет қаралды 166 М.
Episode 27: Monopoly
7:01
mjmfoodie
Рет қаралды 437 М.
Elasticity of Demand
13:36
Marginal Revolution University
Рет қаралды 729 М.
Elasticity Practice- Supply and Demand
13:11
Jacob Clifford
Рет қаралды 806 М.
Episode 17: Diminishing Marginal Utility
4:17
mjmfoodie
Рет қаралды 205 М.
Y1 10) Price Elasticity of Demand - PED
8:02
EconplusDal
Рет қаралды 401 М.
Does size matter? BEACH EDITION
00:32
Mini Katana
Рет қаралды 18 МЛН