The Demand Curve
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- Опубликовано: 8 сен 2024
- This video introduces and describes features of the demand curve
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By Jodi Beggs - Economists Do It With Models
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These videos are SO helpful. I am taking Economics online and just reading the book (the Mankiw one that you use) isn't cutting it. I met with my professor, a very sweet man. However, he is from a foreign country - I don't understand his accent and got nowhere by meeting with him. I have a 4.0 GPA and was beginning that I might lose it due to this class. Now, I am able to understand this material thanks to your teaching. Blessings to you!
I wish you were my econ teacher! I have to come to your channel constantly to explain things that my teacher didn't! Thank you for your channel and for making econ relatable (as it should be).
for first time ever did i pay more attention to the topic taught rather than the teacher,thanks was helpful
Very good lectures to understand...
I appreciate this brilliant work done by Miss Jodie Congirl
This is really helpful. I miss Massachusetts though,wish I was up there for the foliage-lived in the Berkshires most of my life. GO PATS! GO SOX!
Your cuteness makes it hard for me to concentrate.
@dcuervo777 Spot on! Exactly! I just did not want to sound too much. The MU is not reflected. The fact that if it is an inferior of Giffen is not reflected. The weather is not reflected. The 1000000 factors, that you say "are constant" can never be constant, because they are changing on a constant basis. People think they can do calculations on this curve. In itself it represents an idea, but it is not a CURVE or graph. You can not predict a single point on it. It is a visual aid, not a graph.
@csurmi22 The demand curve is a snapshot in time that holds all variables except price constant and graphically represents how much people are willing to buy given different prices. Taking your ice cream example, you are walking and see ice cream truck. In that moment, given your preferences and external conditions, the units of ice cream that you buy will be inversely related to the price. If one unit costs $100 you probably won't buy any, $7 you might by 1 ,$1 you might get 2.
@csurmi22 The principle that you are noticing is called deminishing marginal utility. It explains that each aditional unit is worth less than the previous one becuase it satisfies a less immediate value. While that is a good observation, it does not contradict the law of demand or the concept of a demand curve. This is because in your example you are not holding all variables except the price constant.
Thanks for helping me help myself! I understand Demand better now. Sincere ty!
My demand curve is curving upwards right now . LOL
Wonderful lesson. clear explanation. Thanks a lot for uploading
Thank you very much for your class :) very helpful
Thank you this saved me I was really getting behind in my class
I'm having trouble understanding where you get your original number (40-5P). For explanation purposes it would be helpful to know so when creating a graph myself I can understand where those numbers originate.
@csurmi22 The reason that you are not willing to pay for the third ice cream is that you are full. It is a different moment in time, with different conditions and preferences, which would be represented by a demand curve diferent from the one that represented your first decision to buy ice cream.
I don't know why so many asian guys are commenting on this video is such a sexist way! I've not long started at a Scottish university, and the authors' 10 minute video really explains what takes an hour in a lecture at uni sometimes! Thank you for the video :)
Brilliant! The video content and teaching are priceless, or Ivy league valued. (Wouldn't expect less from a Harvard teacher) But more brilliant is the concept of "tricking people into learning". Unfortunately this site baits more simpletons than those that fall for it and watch every video to learn...(personal site is good to), but nevertheless... I enjoy this on a learning scale, and application of personal creativity to increase productivity of teaching. Also a great marketing tool. A+ Jodi
Not all demand curves are a straight line law. Generally Q=f(p) is a 1-1 monotonic decreasing function such that Q tends to zero as p tends to infinity very quickly and Q increases quickly as p tends to zero. Also p=f-1(Q) is the inverse function which is 1-1 decreasing function. An interesting problem is that given your Gain or Profit equation G=(p-C)Q(p) where C is the cost per unit such as a loaf of bread and p is the price of a unit then if you are told that the demand Q(p)=-ap+b with a,b>0
excellent teacher
Well explained. And unfortunately false when aggregated beyond a single consumer and good to a market economy. Attempts to find empirical support typically find that it's not even a useful approximation at that level. But it continues to suit moneyed interests.
thanks for sharing your knowledge very interesting and informative video. which you could share some videos about intro to econometric.
Wonderfully explained. Thanks.
Right as I read your comment she said that, and I laughed so hard man... lol
Thank you for all videos
thankyou dear!!
@dcuervo777 "given a demand curve". In real life you have people and you have decisions. A demand curve is a guide, and should never be confused with a mathematical curve. In some cases it works, some does not. Think of it from your own life, your own economic decisions. Give me examples and I will agree with you. :-)
This is very helpful.. thanks !!!
You lecture is v. nice u r good ♥
@dcuervo777 Hmm... OK. So then what does exactly the demand curve represent? My own demand for 1 certain good over a year? The gross demand of people within 1 sq km for the exact good at a set point in time? The gross demand of a certain named good of the 6 billion people in an unlimited time frame?
very well explained.
she has good teaching skills
im in loooove
I don't take economics yet, but I'm interested in it, and these videos are nice!
I do think, however, that the videos may be more engaging should you take less pauses and increase the pace a little bit. Also, I don't see the point of explaining the basic algebra, as anyone who is taking economics should probably have a firm grasp on those concepts.
The only way this demand curve works is with cigarettes, because I am very sure I will be demanding some next week, and I can also tell how much. The ice cream typically wrong. If the weather cools off my demand will drop, on a hot day my demand will rise. Maybe for a month I only want to eat ice cream, and maybe for a year I can not even stand the taste. It has nothing to do with price. Does not matter how the price is changing, my demand depends on my wish not on price. Basic fault!
Is the qd=40-5P a fixed formula?
Very helpful!
question why didnt u bring the - down with the 5p?
what is with the star on her hand? hemp tat?
can yu explain about residual demand curve..
The problem is to determine that price p>C that maximises your Gain G(p,C)
Thank you! Thanks for not talking super fast!!
is equal to the P, or 8 minus 0 divided by 0, so economics is an important part of our consu....... Daaaamn ur pretty
hey love ur voice
I believe that she should take the time out to explain the basic algebra for those who are not seeing the relationship. On the contrary, when you do enter your econ class, I am highly positive that your teacher wont bother explaining the basic algebra.
i like that shirt
wish my Prof. was like her we would concentrate at least on SOMETHING !
You look better in this hair still
Wow! So "Watch your P's and Q's" is really about budgeting, then.
Consumer surplus of this video is 100 times higher than that of expensive college lecture
I DEMAND you to take off your top!!!
40 - 5P = 0 would next be -5P = -40 and then the negatives cancel each other to P=8 sorry lol. but thanks for the vid!
Shouldn’t it be curved?
my manager Alvaro got the hook
@medorio68 me too yaar
i live you. i dont love you. i live you.
everything is ok and good but ,... how come the demand CURVE is a LINE?
economics isn't hard. it's just interesting
tnnxxx it is really interesting
I don't think so. :--(
tu es la femme de ma vie !
@dcuervo777 OK. So I am on the beach. It is boiling hot. I want to have an ice cream. And I am lazy. Tesco can keep lowering the price, until i can buy ice cream on the beach, I buy it there. The ice cream seller on the beach sells ice cream for 5 USD per piece. I bought one. He lowers the price, its only 3 USD per piece now. OK, I can eat another one, lets go for it. He lowers it 1 USD per piece, but i dont buy. Im full, so even if he gives it for free, Im stuffed, no more ice cream for me.
i got a demand curve too
@csurmi22
"seterees pahreeboos"
-Latin 2 student
I (insert generic sex pun relating to economics here)
pusula...that's pretty creepy
economics as a subject has never been so attractive... :)
سلاماااااات
@himaet ...you have just made a joke...
هههههههههههههههههههه سامجه اه
Math classes and variables? This demand curve is just a theoritical tool! You can not make a single sorry calculation on it! Stop being so wanna be mathematical!!! It has nothing to do wih it!
This is crap!!!!
I came here to learn how to draw to scale. I am disappointed.
you are too attractive to concentrate on the subject..no offense meant.... : )
Demand = power to purchase & will to purchase in pacific time. replay me must
economics isn't hard. it's just interesting