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

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

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

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

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!!

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

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

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

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

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

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

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

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

That explanation was on point.Thank you.

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

your a hero, you just rescued me from darkness

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

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.. :)

you are a life saver!

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.

Thank you so much! great way of explaining it

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

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

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

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

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

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

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

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

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

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

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

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

This guy is GOLD!

this man is such a legenf, really helpful mate!

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

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

This explanation helped greatly for my examination! Thank you!

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

Bless You! Very well explained. Thank You!

simple and straight forward, thanks

amazing, how simply everything was explained. Thank you!

i like the explanation its sound better for me. fantastic

awesome! prepared for my exam tomorrow, thanks!

All doubts clear sir! Thank you!

Thnx...from South Africa

This is so helpful ❤️🇿🇼

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

very clear explanation sir..thank you

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.

Hats off to you sir!!!

Thank u!!! I learned from the material.

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

it is a very great lecture

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

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

Thankyou so much !

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

Fantastic explanation

Great teaching, Thank you so much!

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.

Excellent!!! thank you!

Amazing. Thank you!

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

Thank you for that 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'.

This helped me a lot. Thank you!

Very clear, helpful explanation! Thank you! :)

Thank you !! Great video.

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?

Thankyou😭. I have public economics tomorrow.

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

Thank you very much!

Thx from Barbados

Your too good....

nice explanation with example.

It could have been better if you actually shown the decomposition of se and ie by drawing it using ic. Anyways it was an awesome lecture ..

awesome video thank you!

good video

THANK YOU FROM ISRAEL!!!

you've helped me alot , thanks

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

Hi Phil, im watching your videos from london and was wondering if you could do a video on elasticity/inelasticity of demand for labour, covering factors influencing demand for labour aswell. cheers

thanks a lot! . :) great explanation.

God Bless you!

awesome! Really helpful!!

awesome

very informative , thanks

Thank you so much sir

You're Amazing! thanks a lot.

If you were my teacher, I'd honestly not be even slightly worried about my A-Levels.

thank you sir!