How this important concept in economics is shown on a demand curve and how it relates to producer revenue.
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@Kamzui16 жыл бұрын
My God, you explained this topic perfectly in less than 7 minutes and I understood everything. I have a IB HL Economics teacher here and he tried to teach us this in 2 lessons and nobody understood it. You're a role-model teacher!
@donot099113 жыл бұрын
IF EVERY SCHOOL IN THE UK HAD TEACHERS LIKE YOU, OFSTED WILL STOP INSPECTING! YOU ARE THE BEST!
@alfianmm11 жыл бұрын
this is the best way to learn economics. i cant imagine how i'd be trying to fig out all these from textbooks. thanks God for technology, and thank you too.
@hussainaziz96468 жыл бұрын
Great teacher. Absolutely phenomenal.
@donatebymail15 жыл бұрын
You're incredible! You explain about 10 confusing pages in my textbook in 6 minutes! THANK YOU THANK YOU THANK YOU!
@agolakchub14 жыл бұрын
I'm working towards my CFA Level 1 and I still find this extremely useful - very interesting concept of how the inelastic curve and elastic curves are just a specific portion of the full linear straight line demand curve - brilliant!
@nateofthesouth14 жыл бұрын
Thanks from the States! You do a fantastic job at making this understandable in a very short amount of time.
@loverofbeats15 жыл бұрын
wow, seriously, i've learned more from you in the 5 min lectures than i've learned from my teacher in the past month.
@Torikan15 жыл бұрын
I'll follow up on that agreement. this guy made this concept much easier to grasp. Thanks for posting this video!
@Xlcontiqu11 жыл бұрын
This video blew my mind. So much makes sense now. Thank you so much for making these, they're allowing me to understand all the material on my final tomorrow!
@MutingSociety16 жыл бұрын
Got my AS exam in a couple of weeks, this will definitely help me out. I didn't know half of this stuff when doing price elasticity. We just did the basic stuff. Thanks a lot.
@fozziejosh14 жыл бұрын
Many thanks Phil, you've helped so many people out with your videos. Thanks from Nottingham, UK
@c.manning450911 жыл бұрын
Thank you for making this easy on me. You are one of many that are certainly making a difference!!!!!
@hljjordan97111 жыл бұрын
This video and the one before has taught me more in 15 minutes than I learned in a week. Thank you so much!
@IWasMadeToBeGod15 жыл бұрын
my economics exam is in a week, and you have no idea how much this has helped me thank you so much :)
@twobootsjohnsonTO12 жыл бұрын
thankyou, haven't been able to grasp this concept at all until seeing part 1 and 2, thankyou
@extrememonaXXX12 жыл бұрын
thanks! THANKS ALLOT! keep doing whatever ur doing lol allot of students are actually in need of these kinds of videos as we speak.. u dont know how much i needed this! thanks!!!!!!
@jussiehabib15 жыл бұрын
You might have an idea of how many people you´ve been helping with your lessons... Be sure, however, that it´s far more than you can think of. Congratulations and thank you very much. Regards from Brazil :=)
@pajholden16 жыл бұрын
Thank you for your kind comment! IT really is a pleasure to be of any help. I am planning to make some more videos in the next week or two and I will definitely do something on market failure. Hope that will be of use up in fantastic Newcastle!
@lauuruguay13 жыл бұрын
Hi, I just love all your videos. I actually try to watch every single one of your vids. I am an economics major and many times when I get home I forget everything we did in class, so I rely on your videos. Thank you so much. :)
@laraboydx13 жыл бұрын
just wanted to say thanks so much for the videos they are extremely helpful and because of them i was able to achieve an A* at A level this year!
@gobbledee5515 жыл бұрын
Great Great teacher! i am having an exam on elasticity in 5 hours, and i needed a review of the theory. THANK YOU VERY MUCH! Good Job!
@jon718716 жыл бұрын
Greetings from Pennsylvania State! Your video helped me significantly solidify the concepts taught in my econ class, and I just wanted to thank you for this video. Keep up the good work and the great teaching. -Jon
@renka31814 жыл бұрын
Thank you so much for this video! I was helping my brother with his homework and when I found this video I stopped trying to figure it out and just had him listen to you. lol
@friezefrite13 жыл бұрын
Thanks for that explanation, my Econ professor hasn't really explained the elasticity of linear demand very well. I always assumed it had solely to do with the slope of the curve, but now I see that it's about the percentage change.
@sjbrophy11 жыл бұрын
I suppose it's worth sharing with you that I am an Irish Public Servant watching this on the morning of an exam in economic analysis... Ireland learning lessons from Greece :)
@redmanPH15 жыл бұрын
god i just love these economics classes. makes my "real" economics classes look unorganized. THANK YOU SIR
@dudettemaz15 жыл бұрын
oh my god i actually had no idea about half of this! even though i didnt need to know about it for my ecn2 exam next week, it will be so helpful to know for ecn6 if i do well in my a level economics, it will be down to the legend that is you, mr holden!! thank you so much! :)
@marceuru15 жыл бұрын
thanks Mr. Holden It is absoludtly clear and very helpfull, especially for all of those students that are struggling with principles of economy;Once again, thanks
@iparanjpe9612 жыл бұрын
Such a great insight! That was a clear, understandable explanation. Thanks for all your great help in microeconomics!
@renukasarabjeetsingh15 жыл бұрын
wow...i never had the concepts so crystal clear in my head earlier...thanks a lot Sir
@pajholden12 жыл бұрын
A British banker called John, working in Greece, once said to me that Greeks were the best on Earth for finding opportunities for successful private sector enterprise - and the worst in the world for organising a public sector. Still a great country to live in - John and I played together for the Athens Cricket Club.
@rayantan267510 жыл бұрын
Wow thank you so much!!! I have been trying to figure out the reason why the upper portion of a demand curve is elastic whereas the bottom portion is inelastic there I go! I got my answer. Thanks Mr Paj!
@Denutvalde9410 жыл бұрын
Very interesting example there with the OPEC-countries and the demand curve. Awesome lecture!!
@funnyshit19412 жыл бұрын
Seriously you are the best teacher ever.
@JamesJeffrey199511 жыл бұрын
Phil, you are the demi god of Heaton manor economics class.
@nannybannany12 жыл бұрын
I have homework due in 2 hours and I forget what my book said so I figured I'd learn faster by watching a visual KZfaq to teach me! :D So far so good!
@RIZIWIAT7 жыл бұрын
Mr. Holden, you are great.............a good teacher
@SuperSection314 жыл бұрын
thank you so much i have understand very well way better than my instructor explains. thanks again from somalia mogadisho
@mattowen464711 жыл бұрын
This man got me through my stage 1 module, the morning before.
@shih51713 жыл бұрын
it's really great! Thank you so much! I used to think of elasticity a complex part, but now I get some confidence to face it.
@ghverso11 жыл бұрын
Thanks Alot! I was never able to understand price elasticity of demand, but thanks to you, i can now!
@Galleon1215 жыл бұрын
hi Greece! Thank you for this video, it really works, helped me to get sth much more than lecture. Greetings from Turkey!
@MoralMoney14 жыл бұрын
Thanks! I think this is even more helpful to young instructors like myself. We know the punchline but forgot to pay attention to the details of how to actually teach and lead up to the punchline. These give a teacher a second chance to pay attention to how it's taught.
@radip14 жыл бұрын
A natural born teacher :) Cheers!
@jahangirbek16 жыл бұрын
Great job, much more better than text books. Tank u very much. Waiting for new lessons.
@SLIMreject13 жыл бұрын
Thank you so much! You have no idea how much of a help you have been to me!
@saraahxhc15 жыл бұрын
thanks so much!! you are a wAAAAAAAAY better economics teacher than ones in my school added together!
@nutsbutdum14 жыл бұрын
Dude, I have an exam this Saturday. And you've just saved me from going through like 120 pages of test materials! Literally!!
@tombasa15 жыл бұрын
I failed to understand this concept in n hour of twenty minutes of lecture at my school. I just learned it all in seven minutes. Thanks!
@bhafcshuaib14 жыл бұрын
Thankyou mate, I have my AS exam on friday and have had a poor teacher all year! youve taught me what i needed to know. :)
@wkblack11 жыл бұрын
Wow. Thank you again for the amazing video! Your style is so clear and to the point.
@ksakbk14 жыл бұрын
thank you so much for posting this! this is really helping me revise for my AS exams! thanx again!
@haseenamoulana2286 ай бұрын
Ur d best teacher n role modle ever
@ihadtosignupfuckers13 жыл бұрын
THANK YOU SO MUCH FOR THIS!! I understood the entire concept just by watching your video once..AMAZING thanks again! You rock!
@NavyNigg5511 жыл бұрын
Excellent videos. Thank you for taking the time to make these. Immensely helpful for a college student as myself.
@ilovehongkong54012 жыл бұрын
hi sir! I have my midterm tomorrow and you really helped me out. Thanks so much. Wherever you are I hope you have a wonderful day! Cheers~
@yunicaija13 жыл бұрын
I have midterm tomorrow and I dont get PED, then i watched ur video and u made it easy. Thank you so much! =)
@kylezpottzrap14 жыл бұрын
learned a lot..we dont have to learn about that, but it is better to know cause it makes far better sence and is easier to grasp when you know the ins and outs...thanks
@FinLikesToDrum13 жыл бұрын
I think I might as well owe my AS level to you when I take it haha, thanks very much. I've never found a youtube video as helpful
@AdcockMatt12 жыл бұрын
incredible video. never heard such concepts explained so well. wow. thanks!
@proudstudent15 жыл бұрын
very good way of teaching economics.great.ALLAH BLESS YOU
@snorre8913 жыл бұрын
Great videos, thank you so much! Exam the day after tomorrow, and I'm so tired of reading the book so thought I might change my way of revising. Not only this but many others I saw were of really high quality.
@thisarawt12 жыл бұрын
Thank you very much!!!!!!!!!!!! I'm studying for my exams at last moment. ur lecture helped me a lot.......
@josejabarboza14 жыл бұрын
This guy is awesome!!!! Best youtube econ professor
@fareed432114 жыл бұрын
well don ,,, very good ,,, continue like this we all need it ,,, ur an excellent teacher
@Karousha14 жыл бұрын
i will like to say thanks for explaining PED so easy you're awsome !!!!!!!!!!!!
@MrNameles50010 жыл бұрын
Belgium says thank you! I was sick for a week and college does not go as slow as high school (haha…) so unfortunately I didn't get this part. Now I do. Thank you!
@ryandell2515 жыл бұрын
thank you so much. you cleared that up for me so much. I was lost as to what the text book was actually saying about this topic
@dharynparapen66613 жыл бұрын
you have a very straightforward teaching..i like it
@PaulyCesp13 жыл бұрын
You are the best! Please continue making these kinds of videos!
@matty197310 жыл бұрын
You're the best!! thanks for the good hard work!
@nation360bd13 жыл бұрын
i must say you can explain really very well. ii just started my management studies and im looking forward to have more stuff about micro and macro
@pizzasryummy11 жыл бұрын
You sir are a life saver. Total Ace.
@MissSonalDhanturi13 жыл бұрын
You are amazing and this was genuinely an excellent video. I have an exam the day after and this helped me very much. Thanks you loads. :)
@maGallard7413 жыл бұрын
I love this man I will like to ask him about A.G Barr in the UK which is elastic, anyway very helpful. God bless you.
@Paretozen14 жыл бұрын
For those of you who find Elasticity an abstract definition... Try to picture it as a Material. For instance you try to stretch out an iron bar. You pull on it with all your force but it wont budge... hence the iron bar is very inelastic! Now see the iron bar as the quantity demanded, and your pull with force the Change in Price. Now you can see if you apply the force, change in price, the quantity demanded wont change (much). Hence inelastic. Same goes for a rubber band.
@TheJumunji11 жыл бұрын
You are the Man! Very helpful! keep up the good work!
@DmasterX696 жыл бұрын
Doing my ACCA and this helped a LOT
@reds82414 жыл бұрын
this is the best video in the world it helped me out so much cause im doing studing overseas dnt have teacher just textboook tanx heaps
@sahfahri15 жыл бұрын
I wish he were my lecturer. I understood demand and supply in 2 of his videos than 2 hours of her lecture!
@lionheart881313 жыл бұрын
Only reason i'm passing my intro to macro economics course is because of you, i being tuaght as if i'm getting a PHD in it but thank god someone explains it like a normal person.
@xsarlax12 жыл бұрын
omg you are just amazing i was lost all way through until i saw this video RAHHHHHHHHHH thanks so so much!
@jj1366012 жыл бұрын
thank you soo much sir...i wouldnt have able to learn it by myself in my full life :( very helpful
@FallenOneWingedAnge115 жыл бұрын
well explained, it was interesting watching this.
@mattlippy12 жыл бұрын
I LOVE THIS GUY AND CONCERTA!!!!!!
@vinhi200114 жыл бұрын
Brilliant ,many thanks ... keep up the good work !
@tranceaddictandy15 жыл бұрын
helped me alot too - much better than my economic teacher lol
@Danrg2213 жыл бұрын
When the demand curve is a straight (linear) line, the slope is equal on any point on this line. Price Elasticy is determined by this slope. The line you draw at 1:35 is a steep linear line. When you continue the line, the slope doesn't change (above or below). If the slope doesn't change, the PED doesn't change. De slope only changes with a non-linear line, like a exponential demand curve. The PED is different on each point of the exponential line.
@jboon10014 жыл бұрын
Awesome. very helpful I wish I would of found you vids 4 weeks ago!
@pajholden15 жыл бұрын
That's good to hear. Take care and good luck.
@soumire13 жыл бұрын
Great and clear explanation, thank you so much.
@SweetCakeJuJu10 жыл бұрын
what a great teacher! Thanks for the upload it helped a lot! :)
@TakeToTheBeach13 жыл бұрын
you explain this very well, hats off!
@elesoc15 жыл бұрын
i bloody love your explanation!
@couryG1113 жыл бұрын
Very Helpful! Thank you so much for your valuable time!!
@zuzekandovela38727 жыл бұрын
You are the best And i like ur pace
@GVZKeys13 жыл бұрын
@asznman yes, if the demand curve is more vertical it is inelastic (think of it being sort of like an 'I' for Inelastic) and the shallower or flatter the demand curve the more elastic the product is
@arjun195112 жыл бұрын
A very nutshell teaching on price elasticity and demand curve.