Elasticity Overview and Tips- Micro Topics 2.3, 2.4, and 2.5
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- Опубликовано: 27 авг 2024
- Hey econ students! This video is an overview of elasticity. Be sure to learn and practice these concepts before you watch (see links below). I made this video to compare and contrast the four types of elasticity (price elasticity of demand, price elasticity of supply, cross-price elasticity of demand, and income elasticity of demand) and give you a few tips to do well in your econ class. Thanks for watching.
How to download the Elasticity Practice Sheet
Step 1: Go to: acdcecon.think...
Step 2: Create a free account
Step 3: Enroll in the free version of the MICROeconomics packet (either AP or College)
Step 4: Go to Unit 2
Step 5: Download the PDF, fill it out, and check your answers
Note Teachers- Do not print the practice sheet and give it to your students. This is NOT for in-class use. If you are interested in getting worksheets for your class, please go to my website: www.acdcecon.c...
Elasticity Video- • Elasticity of Demand- ...
Elasticity Practice Video- • Elasticity Practice- S...
The answers to the practice multiple-choice questions are below. Just click on "Read more".
Answer Key
1. A
2. D
3. C
4. D
The answers to the practice multiple-choice questions are below. Just click on "Read more".
1. A
2. D
3. C
4. D
How to get the Ultimate Review Packet
Step 1: Go to: acdcecon.thinkific.com
Step 2: Create a free account
Step 3: Enroll in the free version of the MACROeconomics packet (either AP or College)
Note Teachers- Do not print any of the packet and give it to your students. This is NOT for in-class use. If you are interested in getting worksheets for your class, please go to my website: www.acdcecon.com/bulk-discount
Thank you sir.
Jacob Clifford sir plz can u tell in video that a about weather conditions affect demand and supply how like when a rain storm natural disasters plz sir
Thanks for the video!
And please make a video on the MIDPOINT Formula 🙏
Annie Nation I have four channel
1 Gaming
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Dear Mr.Clifford,
Can you explain why price elasticity changes from elastic to inelastic along a demand curve?
This guy is one of the best teachers on youtube, rivaling and many times surpassing Khan Academy. Thank you very much for your help!!!
PatrickJMT is king tho
@@BasilHagens nah, he has a lot of math vids and a lot of people are bad at math so that's probably why people tend to think that he's so good at teaching any subjects. basically people who are insisting that he's the best are people who are bad at math.
and to you parcekz, khan academy may not be as good at being entertaining and brief as professor jacob, khan is actually veeeery rigorous. like you can be confident that you have learned everything you need to know about this subject, as if you can compete with undergraduate students even if you haven't gone to college yet.
but above everything i have said, i strongly agree that professor jacob is literally the BEST economics teacher in youtube in terms of entertainment, being concise and being brief.
he deserves better, his channel should've been close to 2 million.
my suggestion to professor jacob is to make more videos; i suggest that he starts finance and capital markets playlists
The Green brothers are great, too.
@@hetaeramancer he isn't just brief .. because everything he's said is contained with what I read..
He talks fast that's why it seems as if he's just brief. Well he's giving me data and it's helping. By the way I'm not bad at math I'm good at it.
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You explain things 10000x better than some of my economic professors. I'm so glad I found your videos. Thank you!!!!
you have taught me more in one video tan my economics teacher in a whole semester
Passed both my Macro and Micro CLEP's all thanks to you! Thank you so much Mr. Clifford, if anyone else is prepping for CLEP's this is the way to go!
I actually hope my Econ teachers could be as fun as you are, easy to understand and easier to encourage students to raise questions.
Your videos are very easy to understand, and you make it so that learning Economics is actually fun! Thank you so much, and all the best for your RUclips Channel!
I'm facing the Econ test tomorrow,and I know nothing and I came through this RUclips channel. He's doing a great job. I can assure a pass mark. Thank you for helping us!
Hi Mr Clifford I played your videos every day during my 1 hour commute to work and I aced my Business Economics paper on my MBA. Thanks very much for making these videos
Honestly I just started studying economics. Never done it before and I start at tertiary level, pretty hard I know. I thought it would be difficult but after viewing and downloading most of the videos from this channel for the chapters we have covered at my university, I can confidently say that these videos have truly helped me improve my skills and broaden my knowledge
YOU KNOW WHAT BUDDY YOU R THE BEST TEACHER ON YT WHENEVER I HAVE AN ECO EXAM I HEAD UP STRAIGHT TO THIS CHANNEL ..... YOU R THE BEST MAN...
This is great--often people confuse these elasticities or don't realize when one or the other applies e.g. price elasticity of demand versus income elasticity of demand often gets mixed up on exams--I make videos for my own students but send them here too!
Consider me SUBSCRIBED! I'm taking a compressed Economics course, painfully online, for my MBA and it was kicking my butt until I found your videos. I am forever indebted to you!!!
Anyone else still comes back here even though you not taking the class anymore lol I subscribed I think 3 years ago and I come back just because of how interesting this is and I'm an accounting major lmaoooo
Thank you Mr. Clifford your videos are appreciated, am a student all the way from Africa and your videos have helped me understand alot more and better and I always come back to them before an exam. Thank you, love all the way from Namibia.
Hey Mr Clifford, I just wanted to thank you so much for your videos. The fun and easy way you make the lessons makes me laugh, and helps me better understand the material.
Thank you!
omg ur saving my life, i don't think i could pass my microecon without these videos
Thank you for your videos! Taking Economics online has been a struggle, but your videos make it so much easier to understand.
This video was super helpful! It took me a second to realize that there are 4 different elasticities + you taught me a whole unit for my econ class thanks!
The best teacher in RUclips. you are really a life saver. best of luck.
This man is a life saver! He just secured the bag for me
Don’t ever comment on RUclips videos but wanted to say thank you. Your videos helped me get a 100 on my micro final.
Thank you so much Mr.Clifford
Hello sir,
Can you make a video about indifference curve analysis, and demand forecasting.
Thank you for everything that you are doing for us . Best RUclips channel around the globe
Thank you verry much for making these videos. It helps a lot especially in this difficult time where we are all homeschooled and not really motivated. ❤️
ıf income elasticity is negative, that means this product is inferior good. so, ıf consumer income decrease, demand of consumers to buy this product will increase. so demand curve shift to the right.
Thank you very much Mr.Clifford your videos are awesome and very helpful.Indeed ur my first econ teacher obviously...coz u are my start.
Tomorrow our exam thanks your on time
I enjoy watching your videos. SOOO happy for --I chose Management Engineering and I get your help to understand microeconomics in a easy way. Thank you
I took AP Macro in high school and now taking Micro in college and wish I had you as a teacher it seems more simple
Mr Clifford you are one of the best. Learnt so much from your videos. Thank you for your content🌸
I wish I had access to these videos when I was studying economics! Man you are good!!
Thanks jacob for for clarifying my doubts.From now You are my favourite econ. teacher......cheers
You've helped me so much till now. Thank you.
Great outstanding teaching skills! The humor is perfect for people like me. I get to understand a lot
I have an exam on micro 3 hrs later, I had no time to read a 98 pages chapter! Thanks for the video.
Jacob Clifford is the 🐐
This editing is 🔥
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You're the best man! Keep up the good work:)
i swear you are the best
The real MVP of economics right here
This video made my life easier THANK YOU!!!
اسطوووره يا جيكوب واللهي بليلة الاختبار نزلت الملخص😍
Who binge watching his videos before the AP Micro test tmrw? Cause I definitely am LOL
Did you get the pdf of the answer ? IF you did please send 🥺
can you explain how to find the elasticity of demand at a certain point on the deman curve, please?
Just on time, thank you so so much! Your help's priceless.:)
you made me get an A last term now I im going to get another A this term, what would i do without u tysm
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ابو كليفرد يا عشقي والله جيت بوقتك ❤️❤️❤️❤️❤️❤️❤️❤️
Thanks so much for all your work!
I swear you're a Jojo reference in real life. Love your videos.
U are amazing sir, thank you alot
I AM SO GRATEFUL!!!!! THANK YOU, NOW I UNDERSTOOD EVERYTHING! GOD SAVE’S YOU!!!
you are the best
Hi! If the supply is perfectly inelastic, why does an increase in demand for that product cause an increase in price while the quantity stays the same? I couldn't understand this question from the ultimate review packet.
plz help!
It helps me a lot!! Thankyou
could please someone explain why number 4 is D? I know it is a inferior good so should the demand curve shift to the left?
No. Because decrease in income means, people will buy more of that inferior good. So it's income elasticity will move from -1.5 to say -3. i.e. it will become "more inferior" than it was before.
Hi Clifford
Interested to hear your thoughts on Social Credit developed by Major Clifford Douglas.
He was a contender of Keynes and was some what successful throughout the commonwealth.
Saved my life
Thanks
Can anyone explain why it’s D for the last question please ? I dont get it 🙁
Im citing u in my paper...hope I do that.right..
PLEASE MAKE A VIDEO ABOUT "ENGEL CURVE" YOU ARE A LIFESAVER
thanks!!!!!!! so easy!
I can’t download the pdf files from your website. It always says you already enrolled in this course. What should I do?
THANK YOU SO MUCH!!!!!!!!!
الأسطورة جاكوب نزل المقطع في ليلة ميجرنا ❤️❤️
thank for your help
Wow 😳 NYC I get it now
excellent sir
great job!
Much Love Jacob!
Can somebody explain to me why price elasticity changes from elastic to inelastic along a demand curve?
why is the answer to question 4d what is the rule behind this
damn the sudden kazoo kid cameos had me off my seat crying laughing
Why is income elasticity of demand abbreviated as YED and not IED?
Y is more commonly used for income throughout economics especially in macro, that why he used it.
Where is the practice paper
I don't get why #4 is D
Awesome
Hi Mr Clifford
Thank you very much for making great videos . English is my second language, please speak slower if you can.
Is that gallon of milk shelf stable?
and who are the seven people that didn't like this?
how?
Why is Gamora?
@@JacobAClifford this is the best response
WE LOVE YOU :D
Can someone explain question 2 6:45 to me please?
the kazoo kid saying thanks at the very start killed me!!!
Lol, did anyone else notice that at 0:17 there was someone else's laughter lol
I can't tell you how disappointed I am that the answer key is not "ACDC" for every single one of these videos.
Video idea: Is capitalism about exploiting the workers?
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Good. But too speed
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Hello