13 years later and this is still so relevant. Thank you for such an amazing explanation!

sir, it's 2021 and you still a life saver! thank you so much, you saved me after 12 years!

My man's got some of the supply curve chalked onto the back of his blazer

Awesome work phil, thanks a lot....as the guy abv mentions, none of the A level course books have backward bending curve, as far as i remember, this was indeed a great help!!

15 years later, this video is still clear and pure insight!🙂

hey u know wat,,i got an A in economics for my advanced level,,and i didnt go to school for almost everyday,,but still pagholden was here to help me a lot ,,through his explanation i got a lot of help,,and n0w u can say that all thanks to pagholden i've got A!!!!!,,so guys here's the genuis,,and for me he's almost my idol!!!!!!god bless u pagholden!!!!!!!!!u are too good!!!!still these praises are not enough for u,,thxx a lot!!!!

Omg you made it so clear! Please NEVER EVER stop making economics videos, sir.

Fantastic job of explaining the concepts. Easy and straight to the point. well done.

THIS GUY HAS BEEN HELPING ME SINCE ALEVEL TIMES, IM IN FINAL YEAR OF UNI AND HE DOES IT AGAIN, WHAT A GUY

This is definetly in the top 10% of KZfaq education videos.You guys are pioneers for the future electronic teacher.Although physical teachers will never be replaced.

I've watched three other videos on this subject and none came close to explaining substitution and income effect as well as you explained it. Thank you!!

You are an amazing teacher! I hope our teacher is like you who can explain the topics very clearly without even having a hard time explaining things. Keep it up! :)

I have my final tomorrow, and I couldn't understand this! You are a life-saver, thank you !

Great work Pat! Practical technical knowledge of any kind, clearly explained, is a great benefit to the world (and to economics students like myself!). Cheers, J

That explanation was on point.Thank you.

Thank you so much! great way of explaining it

Surely comes in handy when a student is crunching 3 hours before an exam! Hail up from Guyana :)

I usually don't comment videos on youtube; but I must say that this video like many more from you, is outstanding =) Thank you!

Great video!!! This really helps with my IB exams! THANK YOU!

You explain economics concepts better then anybody I've seen. Great job!!

you know,,,you are jare like an angel to me!!,,things i've omitted in class,am getting it with you!!thanx a l0t!!!!!!!!!!!!!!!!!!!!!!!!

you explain things much better than Stiglitz, thanks for the help!

Sir ..I m frm pakistan.. I love the way you explain this topic.. Thanks a lot

I love you man honestly, you have been helping me to pass econ since high school.

thanks very much. i have been reading this for days but now i understand.

i wish you were my teacher, Im at Uni and have been listening since I was in sixth form. sometimes the text book/ lecturer do not make sense, but YOU, you make sense x

you are a life saver!

your a hero, you just rescued me from darkness

Excellent explanation!!! So much better than my professors and the book I'm reading. Now everything makes sense =)

I have watched so many of his videos -- he does SUCH A GREAT JOB explaining economics.. I wish I could absorb and retain all the economics details he covers.. :)

WOW, that was the most informative and simplest description of this effect! thanks you

Thank you soo much! i have a test coming up and I was soo confused. now everything makes sense!

thank you so much!!!! I've been confusing the two effects, but your explanation definitely makes things clearer.

idk if that will help me with my material i am learning, but that was the most interesting video ive ever seen

I wish you were my teacher! Such a great explanation :)

hahah im doing my degree in Banking and Finance and i can say the same thing. Its amazing how text books have so much hard to understand text. This guy just explained this concept so easy and used a simple approach. Im following his vids closely.

Bless you my son. Actually I am a passionate atheist.

I have an exam coming up, this explanation just helped me greatly! Thanks so much

Example is so easy to understand, thankyou for this video :)

this man is such a legenf, really helpful mate!

This guy is GOLD!

simple and straight forward, thanks

Thankyou so much !

Very great full of this explanation, thank you very much you’ve enlighten a lot for me

Bless You! Very well explained. Thank You!

I love the way he pronounces "Leisure Time"...Thank you...I understand the process better...

Thank you for your explanation and your time. Merry Xmas from and Argentinean living in N.Zealand

Thnx...from South Africa

Thank u!!! I learned from the material.

Excellent!!! thank you!

This explanation helped greatly for my examination! Thank you!

This is so helpful ❤️🇿🇼

thanks fir such an awesome video its really very helpful and very well explained

Amazing. Thank you!

You are absolutely perfect, man! Thanks for doing this, you are helping quite a bunch of people! ;-)

All doubts clear sir! Thank you!

very clear explanation sir..thank you

amazing, how simply everything was explained. Thank you!

Really, really, really helpful. Thank you so much!

Great teaching, Thank you so much!

Thank you for that good video

i like the explanation its sound better for me. fantastic

Hats off to you sir!!!

awesome! prepared for my exam tomorrow, thanks!

it is a very great lecture

Thx from Barbados

Fantastic explanation

Thank you !! Great video.

Thank you very much!

Wow thanks Sir, This lecture was really helpful, I have an exam tomorrow.

awesome video thank you!

Thank you!!! Its easier to remember the way you put it :D

also, thanks for taking the time to do this video.

interesting graph. It is very logical, although it sometimes surprises me companies will pay lots for few hours. Although my father for example does not have the luxury of working less hours. The job pays well (although sometimes in between jobs he's left jobless for a few months which takes away a significant chunk of the funds saved), but it comes with forced long hours due to the role. But I'm confident if he was offered flexibility he'd take 2/3 of the hours for 2/3 of the pay.

pure class, thank you sir, it help me a lot.

This helped me a lot. Thank you!

more than gold id say PLATINUM.! keep the good work up

Very clear, helpful explanation! Thank you! :)

thaNks a billion!!!.. :)..

Hi rullar - pay is also a function of MRP, Marginal Revenue Product - in other words, what the value of the employee's work is for the business. So a CEO earns more than a cleaner in part because the business earns more revenue as a result of the CEO's work than the cleaner's work.

thanks a lot! . :) great explanation.

Your too good....

You're Amazing! thanks a lot.

God Bless you!

Thank you so much sir

awesome! Really helpful!!

nice explanation with example.

thank you sir!

you've helped me alot , thanks

Thankyou😭. I have public economics tomorrow.

This is great, seems like a long time ago you posted this and its still gold. Are you in england? I am horrible with accents but, why... you know economics have you moved out of that forsaken nation?

good video

the best part is, I can repeat the part where i dont understand. over and over again. not that i need it much for your explanation since its much easier to understand compared to my profs'.

thank you!

This video ❤

clear explanation :)

THANK YOU FROM ISRAEL!!!

If my economy lessons in school were as good as this I wouldnt even go home :)

very informative , thanks

awesome