These is literally the best videos I've come across to explain my college level Microeconomics course. I felt incredibly incompetent when learning this at first and coming across your videos have explained everything crystal clear. The way you explain things makes everything actually make sense! You're a phenomenal teacher! Thank you so much!
Literally don't know 3 chapters worth of Economics so I don't understand any new lessons my teacher is teaching me. This helps. Like alot. Thank you Mr.Clifford.
You have just saved my life. My assignment is due today and I was struggling a little trying to understand this. Now that that the basics are clear I will be able to make more sense of my readings. Thank you so much.
God bless you Mr.Clifford!!!!! This stuff can get so confusing but you really make it easy to understand and most importantly engaging and interesting. Thank you sooo much, you save my life many times!!!
You are literally saving me, I just figured out I write 2 tests tomorrow and I haven't started for either. Thanks so much for the vids you are a life saver!!!! big thumbs up
These videos are great for helping me study. I've taken Economics since highschool and sometimes I still don't get the concepts. ACDC Economics helps me understand econ just a little bit more! Thanks! P.S: If you're not too busy, I think remaking this video with your new technology / film style would be great.
Thank you sir. Tomorrow's our midterm exam and our professor has his complicated way on explaining this lesson. This was a great help to us filipino students. Thank you! :)
Sorry vydo5454. I have a condition called isuckatspellingitus. I've had it everr sinse I was a litle kidd. I use to be self-consious abuot it butt now I dont give a crap.
You sir, is a life saver, thank you for the videos and your efforts to help us students. I have a test tomorrow on Micro, Good Luck to all whom are taking the exam tomorrow :D
Thank you so much! So simple to understand. I feel a lot better about this topic now. My final is tomorrow and I understood it when we first learned it... I just needed some brushing up. Thank you!!!!!!
This method is very easy and profitable.Thank you very much for sharing your knowledge. Your explanations are so clear and understandable. Keep it up. God bless you, you're doing a great service to the world.
My midterm is in 2 weeks, I thought I was going to fail this course and now everything is making sense :') thank you so much!! -University of Toronto St. George campus student :)
You inspire me to be a better tutor! I actually already do a bunch of the stuff you do like "OMG what is this craziness?? AHhh!" Then I'm like "Well, no, actually, once we break it down a bit it's quite easy." =D
I hope I remembered this correctly because there were a few questions on this today. All I can say is that basically the only questions I got right on the AP test were because of you. So thank you! (If I ever take macro or totally failed micro today and need to take it in college, I'm definitely finding you again because you rock.)
Really great video, I'm getting my students to look at it for revision. I think there is one error. Unit elasticity will not be a 45 degree line, but will be a rectangular hyperbola. For example, for a 45 degree line changing the scales on an axis would change the slope of the line but wouldn't change elasticity. For any straight line demand curve elasticity will be infinity at the top, 0 at the bottom and 1 exactly in the middle.
I wish you were my teacher, our professors have been lecturing about this topic for too long, but I couldn't understand it till I watched your 7 minutes video.
I have a question for you Mr. Clifford that we have constantly been debating in my micro class...is deodorant an elastic or inelastic product? also thank you for ur awesome videos I couldn't have survived Marco or Micro w/out u!:)
+Olivia M Wouldn't it depend on the region? Some people, in rural areas, or other countries don't use deodorant. Yeah, that's right. Compliments are still out there, and hey just ask yourself how important is Deodorant for you?
Well done except for a few basic errors. With the exception of perfectly elastic and perfectly inelastic demand curves the elasticity of linear demand curves varies depending on whether price is above or below the midpoint price. Despite what the video implies, a linear demand curve with a very steep slope is not always inelastic, and one with a flat slope is not always elastic. Instead, each will have an elastic range (for high prices) an inelastic range (at low prices) and will be unit elastic at its midpoint. A demand curve with a slope of 45 degrees is not always unit elastic. (A demand curve with constant unit elasticity would graph as a rectangular hyperbola.) Aside from these errors I like your enthusiasm and thought most of your examples were excellent!
This is definitely true, and he makes brief mention of it when he states the "unit elastic" demand curve as being a line with a 45 degree angle (meaning: i'm pretty sure he knows), though usually this nuance isn't provided in a basic intro to econ course. i'm sure he weighed the benefits and costs of providing more detailed information at the risk of deep confusion.
However; if they can't afford it, they are no longer part of the demand curve. Remember that you have to be "willing and able." If they aren't able then they are out so the line is still vertical.
Thank you for your videos! They helped me get an A in Macroeconomics, now I hope they help me in Microeconomics. So Thank you!! & I do share with fellow classmates!
I have just understood more in 7 minutes than i have in several classes... Thank You!
No kidding, holy.
I have a college exam on micro tomorrow. I've been studying this concept for 2 weeks now and this guy is the only one that nailed it. awesome video!
30 pages worth of information explained in 7mins. Great video and the concepts were explained well.
maybe the guy should run a college of his own? )
These is literally the best videos I've come across to explain my college level Microeconomics course. I felt incredibly incompetent when learning this at first and coming across your videos have explained everything crystal clear. The way you explain things makes everything actually make sense! You're a phenomenal teacher! Thank you so much!
Literally don't know 3 chapters worth of Economics so I don't understand any new lessons my teacher is teaching me. This helps. Like alot. Thank you Mr.Clifford.
You are a Economics king, god bless you Mr. Clifford. Now I think I'll pass my exam this morning. Thank you, you are a gentleman and a scholar.
did you pass? it’s been six years and you’re probably in college but i’m curious :)
OMG!!! Where was this video before??? Solved all my queries and helped me more than what ChatGPT, Bard, and Bing AI Chatbot could, plus my teacher too
even though this video was already 12 years old, it still give me the best explanation ever for micro in 7 minutes than any other video
i am getting demand and supply now. thank you very much, God bless you for what you are doing
+adwoa armah You are very welcome. Let me know if you need anything else.
do you do any course apart from economics
No, sorry.
adwoa armah h
made a ton more sense than the 45 min mit lecture, thank you
You have just saved my life. My assignment is due today and I was struggling a little trying to understand this. Now that that the basics are clear I will be able to make more sense of my readings. Thank you so much.
God bless you Mr.Clifford!!!!! This stuff can get so confusing but you really make it easy to understand and most importantly engaging and interesting. Thank you sooo much, you save my life many times!!!
You explained the first two chapters of my masters course in language I can actually understand. Thanks!
You are literally saving me, I just figured out I write 2 tests tomorrow and I haven't started for either. Thanks so much for the vids you are a life saver!!!! big thumbs up
These videos are great for helping me study. I've taken Economics since highschool and sometimes I still don't get the concepts. ACDC Economics helps me understand econ just a little bit more! Thanks!
P.S: If you're not too busy, I think remaking this video with your new technology / film style would be great.
Thank you sir. Tomorrow's our midterm exam and our professor has his complicated way on explaining this lesson. This was a great help to us filipino students. Thank you! :)
you popped out like a miracle right before my micro exam, thank you so much for this video! :)
Sorry vydo5454. I have a condition called isuckatspellingitus. I've had it everr sinse I was a litle kidd. I use to be self-consious abuot it butt now I dont give a crap.
Thank you..Finally some one who teaches and explains, Unlike my teacher who can barely speak English or explain in terms people know
best econ teacher in the world . I bought the review packet !
You remind me of Mark Cuban.
i was scared for my micro test but after watching all of your videos for ch 2 and reading your powerpoints, i feel so confident. Thank you!!!!!
I understand you more then an entire month in class. Please comeback to videos like this, on the latests videos you “run” to much Thank you!!!!!
You sir, is a life saver, thank you for the videos and your efforts to help us students. I have a test tomorrow on Micro, Good Luck to all whom are taking the exam tomorrow :D
you, sir, ARE*... jeez
Thank you so much! So simple to understand. I feel a lot better about this topic now. My final is tomorrow and I understood it when we first learned it... I just needed some brushing up. Thank you!!!!!!
This method is very easy and profitable.Thank you very much for sharing your knowledge. Your explanations are so clear and understandable. Keep it up. God bless you, you're doing a great service to the world.
I understand the concept so much better now. Thank you for these!!!!
Thank you, I got 82% on my 1st test because of you. Thank you
Seriously you are a better teacher than my accredited MBA professor....
This really was helpful. I studied for my last exam using your videos to explain concepts and got a 98. Thanks for the work you do!
My prof for Managerial economics (MBA class) is pointing us to these videos. really great explanations, thank you.
the best channel for microeconomics so far
My midterm is in 2 weeks, I thought I was going to fail this course and now everything is making sense :') thank you so much!! -University of Toronto St. George campus student :)
You inspire me to be a better tutor! I actually already do a bunch of the stuff you do like "OMG what is this craziness?? AHhh!" Then I'm like "Well, no, actually, once we break it down a bit it's quite easy."
=D
I WOULD NOT HAVE GOT AN A AT AS LEVEL IF IT WASNT FOR THIS DUDE! ABSOLUTE LEGEND
thank you! been reading the chapter for hrs but you explained and made it clearer in 7 mins!
skipped 2 hours of class and learned everything in this 7 min video. thank you Mr. Clifford
I hope I remembered this correctly because there were a few questions on this today.
All I can say is that basically the only questions I got right on the AP test were because of you. So thank you! (If I ever take macro or totally failed micro today and need to take it in college, I'm definitely finding you again because you rock.)
Awesome video, I have been reading for and entire week almost none stop just to learn what has been explained in minutes...thanks.
This is so much more helpful than my $84 textbook.
THANK YOU!! i was reading my textbook about this concept and nothing goes into my head at all, now i understand :D
You are the best teacher .Thank you for helping me in economics subject
Hi9 igh it yog 2iw
you are so good at teaching this in such a short time!!!! my professor has no interest in teaching at all!!
thank you!
:) I wish you were my full time lecturer..You rock!!!
thank you so much i have a big test on this tomorrow and was very confused. You made it very easy to understand.
SAME HERE!!! Learn WAY more from his short videos, than a 3-hour college class.
BEST ELASTICITY VIDEO OUT THERE.! SO SIMPLE TO UNDERSTAND!
Helps A LOT!! You are so much better than my micro teacher.. Keep up the good work!
Really great video, I'm getting my students to look at it for revision. I think there is one error. Unit elasticity will not be a 45 degree line, but will be a rectangular hyperbola. For example, for a 45 degree line changing the scales on an axis would change the slope of the line but wouldn't change elasticity. For any straight line demand curve elasticity will be infinity at the top, 0 at the bottom and 1 exactly in the middle.
Even your old videos are great... Thanks, Clifford the Big Red Dog
You are making economics way easier. Thank you!!!
I am watching this video in 2020 and yes it is very helpful. Thank you!!!!!
one more thing if Income elasticity of demand is > 1 then its a luxury good.
a whole chapter explained in 7 minutes.....a lifesaver....Thank you!
i have wasted so much time trying to understand this !!!!! i feel so dumb i should've just watched this video. YOU ARE AMAZING !!!!
Thanks bro. I like the energy. You made it simple and easy to understand.
This is one of my favorites topic in economics, but it's so hard to understand at first. Great video -thanks.
It is really a great help! Thank u please post more vids.
Made my life so much easier! I learn all my stuff from his videos
dude you are a legend, best elasticity video ive seen
am now getting the whole idea. thnx a lot Mr Clifford
You explain this way better then my lecturer!
This guy is actually my hero.
love watching your vids.. i now enjoy and understand economics all because you
The explanation is really useful!
Even though this is an older video it’s still super helpful
Amazing explanation right before the exam thank you so much
It does help me a lot in understanding this heavy topic. Thanks a lot.
Fantastic you explain so clearly
My prof really needs to learn from this guy
Prof, tell the people to turn off their adblocker when watching your vid.
that we we can contribute to this channel
this man makes miracles
This video has the best explanation of elasticity of demand, I understand it so much better now! Thank you!
EXCELLENT!!! I'm taking an online course. GREEEAATT!! Supplement.
LOL@Beginning of the video, "omg is scary!!"" AWESOME video. Way better than my professor. Thanks.
YOU ARE A GOD SEND. MICRO TEST IN AN HOUR!
Did you pass?
I wish you were my teacher, our professors have been lecturing about this topic for too long, but I couldn't understand it till I watched your 7 minutes video.
thank you, you saved the world! (no really, im taking the ap micro test tomorrow)
I have a question for you Mr. Clifford that we have constantly been debating in my micro class...is deodorant an elastic or inelastic product?
also thank you for ur awesome videos I couldn't have survived Marco or Micro w/out u!:)
+Olivia M Wouldn't it depend on the region?
Some people, in rural areas, or other countries don't use deodorant. Yeah, that's right.
Compliments are still out there, and hey just ask yourself how important is Deodorant for you?
Yes Yes Yes!!! A big giant thank you!
once again man, your helping me pass econ! thanks a bunch! :D
I watch two of these and I am ready for a test. Mr. Clifford have my babies.
"Mr. Cliffahd, you the real MVP."
-Kevin DooRant
Well done except for a few basic errors. With the exception of perfectly elastic and perfectly inelastic demand curves the elasticity of linear demand curves varies depending on whether price is above or below the midpoint price. Despite what the video implies, a linear demand curve with a very steep slope is not always inelastic, and one with a flat slope is not always elastic. Instead, each will have an elastic range (for high prices) an inelastic range (at low prices) and will be unit elastic at its midpoint. A demand curve with a slope of 45 degrees is not always unit elastic. (A demand curve with constant unit elasticity would graph as a rectangular hyperbola.) Aside from these errors I like your enthusiasm and thought most of your examples were excellent!
This is definitely true, and he makes brief mention of it when he states the "unit elastic" demand curve as being a line with a 45 degree angle (meaning: i'm pretty sure he knows), though usually this nuance isn't provided in a basic intro to econ course. i'm sure he weighed the benefits and costs of providing more detailed information at the risk of deep confusion.
However; if they can't afford it, they are no longer part of the demand curve. Remember that you have to be "willing and able." If they aren't able then they are out so the line is still vertical.
This is truly amazing, really learned a lot!!
Mr Jacob Clifford u r awesome economist
u r the best teacher!!
thanks for the lessons, it really helped me in my test. God bless u sir.
Thank you Sir! Fantastic explanation!
SO NICE!!!!!!!!!!!!!!!!!SO EASY TO UNDERSTAND.
Thank you for your videos! They helped me get an A in Macroeconomics, now I hope they help me in Microeconomics. So Thank you!! & I do share with fellow classmates!
awesome explanation...👌keep up the good work
+aqdas khan Thanks
YOU ARE THE BESTESTESTEST!!!
Your video saved my time
i learned more in these 7 minutes than i have in 1 month from my college prof.
"You either get it, OR YOU DIE" 3:31
Thanks a lot man! Awesome explanationi
Amazing- You have helped me so much!
woow , this is really a great explanation .. Thank u