AS-Level Economics Video 5 - Supply and the S curve
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- Опубликовано: 6 сен 2024
- Video 5 out of 50 in a complete AS-Level Economics course. This video investigates the supply curve, why it has a positive gradient, why it can shift and explains the concept of producer surplus.
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The supply curve for land (i.e., for nature) is vertical. The reason, of course, is that the supply of nature of fixed, is inelastic. As I observed earlier, the price mechanism cannot clear the market for land absent the societal collection of the full potential annual rental value of land. This is the most serious flaw in neoclassical analysis. Students are directed to the writings of the following economists on this subject: Mason Gaffney (emeritus, U. of California); Fred Foldvary (San Jose State University); Kris Feder (Bard College); Nicolaus Tideman (Virginia Polytechnic Institute). There are others who have presented serious challenges to the neoclassical assertions.
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Well explained. Thank you for your teaching.
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considering the fact that as students have diff exam boards could u maybe upload a small clip about market supply please :)? that'll be great thanks for the vid !
Great Video
hi, what other factors can cause shifts apart from cost of production?
Costs of Production i.e Wage Costs, raw materials and energy costs
Technical Progress
Taxes imposed on firms i.e VAT
Subsides granted by the government
Tom Johnson thanks
jess reese no probs
Hey Paj could you make something about natural monopolies pleasE? :)))))))