Micro Unit 2 Summary- Supply and Demand NEW!!!

  Рет қаралды 370,603

Jacob Clifford

Jacob Clifford

3 жыл бұрын

Hey econ students! This summary video covers microeconomics Unit 2: Supply and Demand. It covers demand, supply, elasticity, disequilibrium, equilibrium, shifts, taxes, and internations trade. Be sure to print and fill out the Unit 2 Study Guide from my Micro Ultimate Review Packet. Between this video and that study guide you should be ready for your exams. Good luck!
Get the Ultimate Review Packet: www.acdcecon.com/review-packet
Micro Unit 2 Playlist- bit.ly/3kWJ9fg

Пікірлер: 132
@isabellasmith8894
@isabellasmith8894 3 жыл бұрын
how did you know i have a micro midterm tomorrow...
@block3737
@block3737 8 ай бұрын
Did you pass
@isabellasmith8894
@isabellasmith8894 8 ай бұрын
@@block3737 yuh ended with an A in the class😌 i owe this man the world fr
@abuda77m
@abuda77m 8 ай бұрын
وانا بعد عند فضلول
@thamerqh4437
@thamerqh4437 8 ай бұрын
@@abuda77mههههههههه
@davedooart1584
@davedooart1584 3 жыл бұрын
Man, I wish I had someone like you for all of my classes, I bought the ultimate review packet and it was the most efficient learning experience I've ever had in my life.
@chrisv2359
@chrisv2359 3 жыл бұрын
You got me an A in my micro class when our class average was a 55! I love you and wish you were my teacher someone get this man a tenured 6 figure job ASAP! They do not make teachers like you anymore and it hurts my soul.
@mookfaru835
@mookfaru835 2 жыл бұрын
Economics, there is no incentive to perform if he is guaranteed income.
@mookfaru835
@mookfaru835 2 жыл бұрын
But I don't think money would make something learn something enough with a passion. But it definitely eliminates the negative parts of being poor.
@mookfaru835
@mookfaru835 2 жыл бұрын
But I don't think money would make something learn something enough with a passion. But it definitely eliminates the negative parts of being poor.
@mookfaru835
@mookfaru835 2 жыл бұрын
But money isn't the only factor in life. Happiness and culture are strong causes.
@CubeClarityGaming
@CubeClarityGaming 3 жыл бұрын
Did anyone str8 up binge watch these videos for the Microeconomics AP Exam and ace it cuz if so, i know what i must do now haha
@sarashahbazi3087
@sarashahbazi3087 3 жыл бұрын
I did 4 years ago. Got 4s on Macro & Micro. Never took the Microeconomics class in HS or college thanks to this guy! Now I am back because I have to take the CFA level 1
@gktte2574
@gktte2574 Жыл бұрын
Not Microeconomics but I just watched some videos in Psychology, skip skip some long parts and tada! Got 4 in AP
@eliqxir1739
@eliqxir1739 6 ай бұрын
this man is the reason i got a 5 on macro. i hope to get a 5 on micro this year too
@imoquantum879
@imoquantum879 28 күн бұрын
@@eliqxir1739 I have my test on tuesday for Micro and Friday for Macro, i have not reviewed one bit of info until today, am i cooked?
@diegofoster9536
@diegofoster9536 27 күн бұрын
@@eliqxir1739 do u buy the packets or find the videos work well enough
@lavagirl8891
@lavagirl8891 3 жыл бұрын
I love this guy😂😂My economic teacher makes us watch this guy 😂and I love him
@schmutzmensch108
@schmutzmensch108 2 жыл бұрын
i just caught up the entire semester in less than 24h! Your videos are way more understandable and also fun to participate in than the lecture!
@DriskillA1
@DriskillA1 3 жыл бұрын
I love this channel! My Micro teacher James Redelshiemer (Mr. Clifford knows him) recommended this to our class and it's made econ so and easy. Great job, Clifford!
@tabeerrafiq3755
@tabeerrafiq3755 2 ай бұрын
you are the best teacher pf economics anyone could ask for ✨You helped me a lot😭😭😭
@himeeshasaboo6511
@himeeshasaboo6511 Жыл бұрын
Thank you for keeping your videos so interesting and easy to understand! you have helped me through high school economics and undergraduate level too!
@rileytylus817
@rileytylus817 3 жыл бұрын
Anyone here be cause they have a ap test tomorrow?
@ryanlongo3434
@ryanlongo3434 3 жыл бұрын
yep, godspeed brotha
@SourceCodeDeleted
@SourceCodeDeleted 3 жыл бұрын
I really liked the live sessions you did with students. Do you think you could do a AMA economics and talk about how things relate to economics?
@TheSat
@TheSat 3 жыл бұрын
This is amazing! thanks a lot Jacob!
@melcalvin4448
@melcalvin4448 3 жыл бұрын
The most attentive I've been for 16 whole mins straight in my life!
@susi3777
@susi3777 3 жыл бұрын
Thank god my econ teacher showed me this channel. Youre amazing bro
@Ali_-xt2lz
@Ali_-xt2lz 3 жыл бұрын
Thank u for helping me in high school now I am excited to start Econ in college
@flexx18
@flexx18 3 жыл бұрын
Any way you can integrate how to thoroughly analyze economic statistics in your units? You are awesome!
@chlorinelamp3892
@chlorinelamp3892 Жыл бұрын
1:00 Demand 2.1 2:04 Supply 2.2 2:54 Price Elasticity of demand 2.3 5:28 Price Elasticity of supply 2.4 6:20 Other Elasticities 2.5 7:09 2.6 8:11 2.7 10:58 2.8 14:39 2.9
@LotusKitty
@LotusKitty Жыл бұрын
So lucky you were here, thank you!!
@chlorinelamp3892
@chlorinelamp3892 Жыл бұрын
@@LotusKitty no problem I noticed this video didn’t have the chapters so I wanted to make it convenient 😂
@khaitoquang2001
@khaitoquang2001 3 жыл бұрын
The old video still good but this new video even better and I have bought the ultimate review packet , it's better and so amazing than I thought
@bhagyawd388
@bhagyawd388 3 жыл бұрын
You are the best, Sir!
@zoya3696
@zoya3696 3 жыл бұрын
Hey, do you do other courses? And ty for helping me pass my econ courses in uni.
@matthewcowser
@matthewcowser 3 жыл бұрын
I like your videos, I am commenting so I get recommended more. I would love to see more econmovies
@peterlufandika1839
@peterlufandika1839 3 жыл бұрын
Thanks Mr Clifford
@lx9550
@lx9550 2 жыл бұрын
thank you,for your lesson
@nimainer
@nimainer 3 жыл бұрын
very nice i think i understood the most part of it now i can do more thing in my game :D
@nurcandashdamirova7864
@nurcandashdamirova7864 3 жыл бұрын
By the way,Mr.Clifford, could you recommend a book that teach me how could I apply econ to my real life/business life? I heard about "Freakanomics" . What do you think? Is that book is good?
@diegoh_0512
@diegoh_0512 2 жыл бұрын
I love you man, appreciate the help
@FlamingPB
@FlamingPB 3 жыл бұрын
Good luck on your AP tests y'all
@bensutton9195
@bensutton9195 3 жыл бұрын
lmao its gonna be an all nighter
@FlamingPB
@FlamingPB 3 жыл бұрын
@@bensutton9195 same here dude 🥲
@coderchallenge369
@coderchallenge369 3 жыл бұрын
Very cool explanation
@VipinKumar-es8yn
@VipinKumar-es8yn Жыл бұрын
You are amazing 👏 love ❤ from INDIA
@providencelusale9483
@providencelusale9483 Жыл бұрын
Thank u so much, u r the best
@yasminnagati6255
@yasminnagati6255 3 жыл бұрын
you are AMAZING !
@sams6509
@sams6509 3 жыл бұрын
Thank you!
@m.k554
@m.k554 3 жыл бұрын
So is this video include the edits or is it only from the ultimate review packet website. ?
@goaway1250
@goaway1250 3 жыл бұрын
this is epic bro
@hafsahkhalid3592
@hafsahkhalid3592 2 жыл бұрын
Best econ teacher
@timothyhufker3565
@timothyhufker3565 3 жыл бұрын
This videos worth at least 50 utils
@outtahere3902
@outtahere3902 2 жыл бұрын
whaT DOES that mean lol
@Mac-ox7ow
@Mac-ox7ow 8 ай бұрын
Underrated comment
@leahsherdren2543
@leahsherdren2543 3 жыл бұрын
i love this guy he me so much econ
@cr-hb7sr
@cr-hb7sr 3 жыл бұрын
Is there a link to donate to your KZfaq channel, I already graduated so I can’t buy the ultimate review packet
@JacobAClifford
@JacobAClifford 3 жыл бұрын
Your rock! Sure. Here is a donation link: www.paypal.com/donate/?cmd=_s-xclick&hosted_button_id=R7AZR6BT34E8J
@cr-hb7sr
@cr-hb7sr 3 жыл бұрын
@@JacobAClifford No, you rock! Your videos are why I got a 4 and 5 in micro and macro
@xtremesssss
@xtremesssss 3 жыл бұрын
@@cr-hb7sr lol same here
@CubeClarityGaming
@CubeClarityGaming 3 жыл бұрын
@@cr-hb7sr The AP exams became that easy?? Well hell yeah, i know what imma study before my exam
@CubeClarityGaming
@CubeClarityGaming 3 жыл бұрын
@@cr-hb7sr became that easy after binge watching these videos*
@NicO-dc1mw
@NicO-dc1mw 2 жыл бұрын
Mr Clifford u the GOAT
@bubblegum2.0
@bubblegum2.0 3 жыл бұрын
He is my real economic teacher
@michaelsun1895
@michaelsun1895 3 жыл бұрын
If you’re new here, you will not regret subscribing to this man
@fusat1615
@fusat1615 3 жыл бұрын
This Dude is a legend
@taylorgoodspeed7227
@taylorgoodspeed7227 2 жыл бұрын
Only have one day to study for micro... doing it here!! Hopefully it goes well.
@Economicslaw-hz3se
@Economicslaw-hz3se 5 ай бұрын
what did you get
@Userblablahbluha
@Userblablahbluha 4 ай бұрын
Same
@shinzokumar8708
@shinzokumar8708 Жыл бұрын
thanks I am bad econ and this video help me!!!! :)
@shinzokumar8708
@shinzokumar8708 Жыл бұрын
I agree
@spice2527
@spice2527 Ай бұрын
did he really just cover 4 weeks of econ in 15 minutes yes he did
@gerardoixehuatl6776
@gerardoixehuatl6776 3 жыл бұрын
Epic 👌🏽
@soniarafiq4189
@soniarafiq4189 3 жыл бұрын
Rock!!! Do you have any website.?
@toptukkermoments6483
@toptukkermoments6483 3 жыл бұрын
can you make a separate video for FISCAL ECONOMICS.
@heather2039
@heather2039 3 жыл бұрын
thank you king
@Axhar1
@Axhar1 Жыл бұрын
This is amazing for revision, if you would watch it every week just for 20 min...supply and demand will run thru your vein..😅
@kunkaroninacumar9293
@kunkaroninacumar9293 3 жыл бұрын
Thank teacher
@shivanandsirikonda1811
@shivanandsirikonda1811 3 жыл бұрын
Love from INDIA 🇮🇳🇮🇳
@rosseiii
@rosseiii 3 жыл бұрын
2:54
@dobilinh6139
@dobilinh6139 3 жыл бұрын
I have a question. The law of demand states that when the price goes up, the quantity demanded goes down but why in holidays, the price of flight tickets is going up but more people buy them to travel in holidays? And in Covid 19, the price of face mask goes up, but more people buy it. Can you explain this? Does this follow the law of demand? Also, can you give me an example of Perfectly Inelastic and Perfectly elastic for both demand and supply? Thank you very much for your video
@lujaynerashid6284
@lujaynerashid6284 3 жыл бұрын
I'm no economics teacher but I can answer a few of your questions. For your first question, I personally feel like airlines increase their prices and give more benefits at the same time. So you could buy a plane ticket for, lets say $400 with no chance to access the lounge in the low season, but in the high season you could pay $450 for a seat with more leg room and get access to the lounge. People who travel during the holiday season look for benefits rather than price because everyone knows that during the high season businesses use the chance to benefit from it. For your second question, just like I said before, businesses use the chance during the high season to benefit from the pandemic (which I feel like is unethical). Everyone needs masks right now since its forced in so many different countries. Businesses are increasing the prices of ESSENTIAL NEEDS!! So no, this definitely does not follow the law of demand.
@michalmarcinek52
@michalmarcinek52 2 жыл бұрын
@@lujaynerashid6284 Demand Shifters - Number of consumers, Income, Products similar, Expectations, Taste Preferences. Number of consumers goes up in both cases, Price goes up.
@jacobdefriez6986
@jacobdefriez6986 Жыл бұрын
The Law of Demand states that if price goes up, holding everything else constant, then quantity demanded goes down and vice-versa. Like the other person mentioned, there are possibly benefits, but if you factor in benefits, you’re not holding everything constant.
@ThucNguyen-si2rf
@ThucNguyen-si2rf 2 жыл бұрын
thank you for this TT im watching this for my tests for this class,,,,, wish me luck..... TT
@margaretmwansa6503
@margaretmwansa6503 2 жыл бұрын
how do i get the study guides
@leeyurina9702
@leeyurina9702 3 жыл бұрын
can you do the Roy model??
@isakgustavsson4850
@isakgustavsson4850 3 жыл бұрын
3:15 why dont u bring up point price elasticity?
@kavyaarora2105
@kavyaarora2105 3 жыл бұрын
What is use of this area of triangle
@atamertkansoy
@atamertkansoy 3 жыл бұрын
MAXIMUM UTILITY!
@Masky.Malsawmkima
@Masky.Malsawmkima 3 жыл бұрын
LEGEND
@shammaalali352
@shammaalali352 2 жыл бұрын
how did you change it to percent
@itz13613
@itz13613 8 ай бұрын
Can anyone tell me what is REVIEW PACHAKAGE ,and its use
@jys2721
@jys2721 2 жыл бұрын
12:40
@kae4312
@kae4312 3 жыл бұрын
hey daddy cliff, i got a 2 on my micro exam 🥰
@hannahansen6535
@hannahansen6535 3 жыл бұрын
KHHJEGE DADDY CLIFF IM CRYING
@sethhhh
@sethhhh Жыл бұрын
1. Inelastic demand and supply jika bentuk kurva permintaan atau penawaran benar benar curam maka itu menunjukkan bahwa kuantitas tidak sensitif terhadap perubahan harga sehingga perubahan harga yg besar menyebabkan perubahan kecil dalam kuantitas 2. Elastic demand and supply jika kurva permintaan benar benar datar maka kuantitas sangat sensitif terhadap perubahan harga, perubahan besar dalam kuantitas dari perubahan harga yang kecil 3. Unit elastic demand and supply jika kuantitas berubah dengan jumlah yang sama persis dengan harga maka itu disebut unit elastis
@starriousinventor
@starriousinventor Жыл бұрын
🤗🤗🤗
@katesantillan5378
@katesantillan5378 3 жыл бұрын
Why do you have milk on a shelf?
@alexa2
@alexa2 5 ай бұрын
Wow I might not fail my final now
@hqlife5128
@hqlife5128 3 жыл бұрын
Just gonna drop it here for anyone willing to do the tax exercise: Calculate who pays a tax on land (perfectly inelastic supply)
@abuda77m
@abuda77m 8 ай бұрын
اختباري عند فضلول اليوم 😮
@saadabubaker1561
@saadabubaker1561 3 жыл бұрын
ily
@Meep0803
@Meep0803 3 жыл бұрын
I can't find the Unit 1 Playlist
@rahularora2936
@rahularora2936 2 жыл бұрын
when in doubt, draw it out
@lizikang8372
@lizikang8372 3 жыл бұрын
I love u 么么么
@nurcandashdamirova7864
@nurcandashdamirova7864 3 жыл бұрын
Omg,I am very upset that why I didn't discover you before
@tahaamir8869
@tahaamir8869 3 жыл бұрын
you make me wanna become a teacher wait what
@beem_c
@beem_c 2 жыл бұрын
ขอให้คนที่อ่านเม้นท์นี้ปลอดภัย จากโควิดนะค้าบ😊 แต่ตอนนี้ผมติดแล้ว...
@bbaranbolukbasi
@bbaranbolukbasi 2 жыл бұрын
5:12 as bayrakları 🇹🇷🇹🇷
@2d_03aliahsyakirah6
@2d_03aliahsyakirah6 3 жыл бұрын
Hello sir, what is dead way lost 😔
@gerardtyson2274
@gerardtyson2274 2 жыл бұрын
thumbnail reminds me of DMX with that cross-arm X symbol
@maryjanelaude4593
@maryjanelaude4593 3 жыл бұрын
May I have a favor?
@goofeye
@goofeye 3 жыл бұрын
Clutch af
@MK-gb7ht
@MK-gb7ht 2 жыл бұрын
mone
@kuyajim4187
@kuyajim4187 Жыл бұрын
kol ayaw pag rap!! paspas ra kaayo hahaha..
@isaacong
@isaacong 3 жыл бұрын
Why is a new Unit 2 summary necessary? What is covered in this new summary that was not covered in the older Unit 2 summary?
@JacobAClifford
@JacobAClifford 3 жыл бұрын
This video goes into a little more detail and I aligned it to the 2019 College Board curriculum.
@isaacong
@isaacong 3 жыл бұрын
@@JacobAClifford The older one is 30 minutes long while this version is about half as long. It's pretty reasonable to assume that these videos substitute, not complement each other. This video is probably not more detailed than the older one, in fact, it's probably less detailed. I guess aligning this video to the 2019 curriculum is okay, but it would make more sense if it was aligned to the 2020-2021 curriculum. Still, I don't know of any resource that is as helpful as your own. (Psst... Total revenue arm trick test)
@ElisabethGaffney
@ElisabethGaffney 3 жыл бұрын
my brain hurts
@etheosumn9274
@etheosumn9274 7 ай бұрын
why is there a jug of milk on a shelf in the background? its gonna sour 0:>
@user-tg9qv9qq3h
@user-tg9qv9qq3h 3 жыл бұрын
why is the milk still there lol
@aggrontube2345
@aggrontube2345 3 жыл бұрын
bruh why is it going so fast
@somebye2992
@somebye2992 3 жыл бұрын
1million $ will be given to ur address, and do not think this as a joke😒
@SlashcamStudios
@SlashcamStudios 2 ай бұрын
The rest of the videos are behind a paywall
@eevonstudios5308
@eevonstudios5308 3 ай бұрын
why do you talk so fast
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