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!

IF EVERY SCHOOL IN THE UK HAD TEACHERS LIKE YOU, OFSTED WILL STOP INSPECTING! YOU ARE THE BEST!

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.

Great teacher. Absolutely phenomenal.

You're incredible! You explain about 10 confusing pages in my textbook in 6 minutes! THANK YOU THANK YOU THANK YOU!

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!

Thanks from the States! You do a fantastic job at making this understandable in a very short amount of time.

wow, seriously, i've learned more from you in the 5 min lectures than i've learned from my teacher in the past month.

I'll follow up on that agreement. this guy made this concept much easier to grasp. Thanks for posting this video!

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!

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.

Many thanks Phil, you've helped so many people out with your videos. Thanks from Nottingham, UK

Thank you for making this easy on me. You are one of many that are certainly making a difference!!!!!

This video and the one before has taught me more in 15 minutes than I learned in a week. Thank you so much!

my economics exam is in a week, and you have no idea how much this has helped me thank you so much :)

thankyou, haven't been able to grasp this concept at all until seeing part 1 and 2, thankyou

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!!!!!!

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 :=)

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!

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. :)

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!

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!

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

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

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.

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 :)

god i just love these economics classes. makes my "real" economics classes look unorganized. THANK YOU SIR

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! :)

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

Such a great insight! That was a clear, understandable explanation. Thanks for all your great help in microeconomics!

wow...i never had the concepts so crystal clear in my head earlier...thanks a lot Sir

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.

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!

Very interesting example there with the OPEC-countries and the demand curve. Awesome lecture!!

Seriously you are the best teacher ever.

Phil, you are the demi god of Heaton manor economics class.

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!

Mr. Holden, you are great.............a good teacher

thank you so much i have understand very well way better than my instructor explains. thanks again from somalia mogadisho

This man got me through my stage 1 module, the morning before.

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.

Thanks Alot! I was never able to understand price elasticity of demand, but thanks to you, i can now!

hi Greece! Thank you for this video, it really works, helped me to get sth much more than lecture. Greetings from Turkey!

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.

A natural born teacher :) Cheers!

Great job, much more better than text books. Tank u very much. Waiting for new lessons.

Thank you so much! You have no idea how much of a help you have been to me!

thanks so much!! you are a wAAAAAAAAY better economics teacher than ones in my school added together!

Dude, I have an exam this Saturday. And you've just saved me from going through like 120 pages of test materials! Literally!!

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!

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. :)

Wow. Thank you again for the amazing video! Your style is so clear and to the point.

thank you so much for posting this! this is really helping me revise for my AS exams! thanx again!

Ur d best teacher n role modle ever

THANK YOU SO MUCH FOR THIS!! I understood the entire concept just by watching your video once..AMAZING thanks again! You rock!

Excellent videos. Thank you for taking the time to make these. Immensely helpful for a college student as myself.

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~

I have midterm tomorrow and I dont get PED, then i watched ur video and u made it easy. Thank you so much! =)

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

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

incredible video. never heard such concepts explained so well. wow. thanks!

very good way of teaching economics.great.ALLAH BLESS YOU

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.

Thank you very much!!!!!!!!!!!! I'm studying for my exams at last moment. ur lecture helped me a lot.......

This guy is awesome!!!! Best youtube econ professor

well don ,,, very good ,,, continue like this we all need it ,,, ur an excellent teacher

i will like to say thanks for explaining PED so easy you're awsome !!!!!!!!!!!!

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!

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

you have a very straightforward teaching..i like it

You are the best! Please continue making these kinds of videos!

You're the best!! thanks for the good hard work!

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

You sir are a life saver. Total Ace.

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. :)

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.

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.

You are the Man! Very helpful! keep up the good work!

Doing my ACCA and this helped a LOT

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

I wish he were my lecturer. I understood demand and supply in 2 of his videos than 2 hours of her lecture!

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.

omg you are just amazing i was lost all way through until i saw this video RAHHHHHHHHHH thanks so so much!

thank you soo much sir...i wouldnt have able to learn it by myself in my full life :( very helpful

well explained, it was interesting watching this.

I LOVE THIS GUY AND CONCERTA!!!!!!

Brilliant ,many thanks ... keep up the good work !

helped me alot too - much better than my economic teacher lol

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.

Awesome. very helpful I wish I would of found you vids 4 weeks ago!

That's good to hear. Take care and good luck.

Great and clear explanation, thank you so much.

what a great teacher! Thanks for the upload it helped a lot! :)

you explain this very well, hats off!

i bloody love your explanation!

Very Helpful! Thank you so much for your valuable time!!

You are the best And i like ur pace

@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

A very nutshell teaching on price elasticity and demand curve.

clear, and understandable! brilliant