Indifference Curves

Think about what restricts your choices when it comes to buying goods and services. Your income is one variable. Prices are another. What about what you like and don’t like? That’s an important one!
Your preferences play a huge role in how you decide to spend your money. We often face so many options when it comes to what we buy that it can be difficult to decide. Even with a simple example of pizzas and coffees, there can be many combinations that would give you the same level of satisfaction or happiness - what economists call utility. There are also many combinations to which you might find yourself totally indifferent.
In this video, Arizona State University’s Professor Joana Girante will show you how to graph an indifference curve. She’ll also introduce you to marginal rates of substitution (don’t worry, it sounds more complicated than it is!). We’ll also take a look at how perfect substitutes and perfect complements change the shape of an indifference curve.
Microeconomics Course: bit.ly/20VablY
Next video: bit.ly/2rWsdwV

Пікірлер: 268

  • @gooddaysir2420
    @gooddaysir24205 жыл бұрын

    the more i watch your videos the more i realize economics is just simple concepts that are explained with complex graphs and convoluted jargon

  • @johnburson70

    @johnburson70

    4 жыл бұрын

    When I took Econ in college that’s pretty much exactly how my professor explained it. It said economists just like to use big confusing words. 😂

  • @gammaraygun6576

    @gammaraygun6576

    4 жыл бұрын

    And the more your realize that this stuff doesn't reflect reality...at all?

  • @femiairboy94

    @femiairboy94

    4 жыл бұрын

    @@gammaraygun6576 yes at the basic level, but the more advanced economic classes you take the more realistic and complex it gets.

  • @slimstrait780

    @slimstrait780

    Жыл бұрын

    @@gammaraygun6576 Well.. most graphs are designed to be simplified versions of reality. But this is still basic economics.

  • @jackyjack9660

    @jackyjack9660

    Жыл бұрын

    @@femiairboy94 not as complex as science...

  • @nitinsharmaa
    @nitinsharmaa5 жыл бұрын

    You explained in 8 minutes what i been taught in 2hrs of class.

  • @ieatalldayandimstillhungry626

    @ieatalldayandimstillhungry626

    4 жыл бұрын

    LOL 😂😂😂🤣

  • @saowaluksrisawat1631

    @saowaluksrisawat1631

    3 жыл бұрын

    Truly agree

  • @ptrisno

    @ptrisno

    3 жыл бұрын

    Sameee loll hahahahha

  • @antonioluna-leija3178

    @antonioluna-leija3178

    3 жыл бұрын

    Same here! only my professor took 6 hours to explain it and I still didn't get anything :'D

  • @junkiri6970

    @junkiri6970

    3 жыл бұрын

    Psst 1.25x

  • @DarthCoco
    @DarthCocoАй бұрын

    This explanation feels like something I have not seen in such a flow of the depth it intended to go into. Much more preferable than my lectures.

  • @waynelemma3668
    @waynelemma36685 жыл бұрын

    you explained this better in 8 minutes than my professor could in an hour and 20 minutes... thanks so much!!!

  • @farihawasti4771

    @farihawasti4771

    5 жыл бұрын

    Not to mention the Tuition$$!

  • @lionelho2866

    @lionelho2866

    2 жыл бұрын

    hahaha same to my situation. My prof is telling rubbish

  • @mosahosseini63
    @mosahosseini633 жыл бұрын

    she :"Economist dosent like things that dont make sense". me while looking at the micro economic book, "it doesent make sense att all".

  • @Sewingtutor

    @Sewingtutor

    3 жыл бұрын

    😂

  • @aldricmartinez-olson7509

    @aldricmartinez-olson7509

    3 жыл бұрын

    haha

  • @purplesky4060
    @purplesky4060 Жыл бұрын

    This is better explanation than the explanation of my microeconomic professor who loves to fail his students but can't explain his lesson better

  • @DeepakPandey-cx5sf

    @DeepakPandey-cx5sf

    Жыл бұрын

    Lol eco profs are same across world

  • @Xavicardenas
    @Xavicardenas4 жыл бұрын

    why is it always so simple but yet during the tests is never a pizza and coffee hahaha thank you for the class

  • @mwanabulliii7784

    @mwanabulliii7784

    3 жыл бұрын

    Trust me I'm understanding right the moment I see the leaf on my take things change 😂

  • @heyptech1726
    @heyptech17266 жыл бұрын

    Joana you are Genius ... you make all the concept interconnected with transition between terms and it make us easier to understand thank you so much

  • @kabinehkpukumu6182
    @kabinehkpukumu61822 жыл бұрын

    I can't help but to pause this video after few minutes of watching, just to compliment your brilliant explanation of this topic! We need more of your kind to not only teach Economics but all other subjects. And thanks a lot for your team, Marginal Revolution Union for putting these great stuffs together! Keep up recording more great videos. Thanks a lot!

  • @aftabsada2282
    @aftabsada22823 жыл бұрын

    the way she explains concepts in such a clean and neat way is simply amazimg!!! She has absolute knowledge in her subject Imdividual like her makes economics intresting!! Please make more videos on ecomonics miss!!!

  • @tobybala
    @tobybala2 жыл бұрын

    This video is just perfect it explains in depth what online teachers cant properly in just 8 mins. Teachers of mine do not even give example to ensure students get a grasp of what they are learning they just go straight to the computations which we do not understand, kudos to this KZread channel that its able to explain it in a way that ensures students are able to grasp it properly.

  • @hannahkelsay178
    @hannahkelsay1784 жыл бұрын

    I don’t think I could survive my class without this video! Thank you!!!!

  • @jgtv6269
    @jgtv62695 жыл бұрын

    Holy smokes! All of a sudden the 12 pages I read on this chapter is easily explained in this short easy to grasp video! Thank u 🙏🏻😀

  • @freatythedreary5491
    @freatythedreary54914 жыл бұрын

    The way she talks is so entrancing for some reason, like she's being serious&formal and saucy at the same time

  • @sethother8012
    @sethother80124 жыл бұрын

    This is the most sense this has ever made! I don’t think it ever clicked back in university like it did now . Thanks

  • @Jojo-mt1yt
    @Jojo-mt1yt2 жыл бұрын

    I love how it's animated,makes it easier to understand....

  • @alappuzha9
    @alappuzha93 жыл бұрын

    Hats off ... learning this for years together I couldn’t understand exactly what those curves are.. your video just did it in 8 min ..

  • @ReizarfEgroeg
    @ReizarfEgroeg7 жыл бұрын

    now I want a pizza and coffee

  • @kaveeshaabeysinghe4839

    @kaveeshaabeysinghe4839

    3 жыл бұрын

    hell yeah and you re in lockdown T-T

  • @arialeen5329
    @arialeen53293 жыл бұрын

    I love listening to her voice. Makes everything interesting. Thank you so much!

  • @seanybo777
    @seanybo777 Жыл бұрын

    Brilliant video, well explained short, simple and to the point thanks a lot!

  • @akane3549
    @akane35494 жыл бұрын

    I could understand our lesson easily because of this. So keep it on! Thanks!

  • @Mystiefel
    @Mystiefel5 жыл бұрын

    Thank you! Really great video - great explanation, I was searching for hours just to get this information that you gave me now in 8 min.Love it!

  • @linavikstrom7426
    @linavikstrom74267 ай бұрын

    I understand indifference curves and MRS much better now. Thank you for your work. You explained it really well.

  • @slashbasesolutions
    @slashbasesolutions2 ай бұрын

    I literally like the way you simplify this topic. Thank you very much. ❤

  • @estherkabwe2739
    @estherkabwe27393 жыл бұрын

    Wow..... this is absolutely amazing. Thank you very much. The animated illustrations were just perfect

  • @Chthonian121
    @Chthonian1214 жыл бұрын

    This makes grad school econ easy to understand. Why is it that I have a hard to understanding what my professor is saying but I googled this video I understood everything? Thanks!!

  • @vrushalirembersu6399
    @vrushalirembersu63995 жыл бұрын

    I love the examples you used. It made this concept so easy to understand 😍 thanks

  • @jeremiahabraham4216
    @jeremiahabraham42162 жыл бұрын

    Loved how they teach the basics.

  • @MisterAadj
    @MisterAadj3 жыл бұрын

    this is so well edited and explained. compliments.

  • @skyhight2764
    @skyhight27643 жыл бұрын

    Thank you so much for teaching this in easy method.

  • @jackeylee286
    @jackeylee286 Жыл бұрын

    What a fancy way to illustrate those abstract concepts!

  • @pzyyyy
    @pzyyyy2 жыл бұрын

    by far the best video on this topic

  • @puneetgupta9116
    @puneetgupta91164 жыл бұрын

    We are not, you and your team nailed it. Beautifully explained. I love your work.

  • @BinhNguyen-zq8rj
    @BinhNguyen-zq8rj3 жыл бұрын

    Really thank you Mrs. Reading hundred of books is not as effective as watching the simple teaching and explanation.

  • @minhajasalzai6709
    @minhajasalzai67095 жыл бұрын

    WOW!!!!!! How good you explain. RESPECT.

  • @murtazahussainganie8195
    @murtazahussainganie81952 жыл бұрын

    Exceptional teaching, more information in just few minutes, best among all the videos of ICs i watched, thank you mam.

  • @sarahtasneem8855
    @sarahtasneem88552 жыл бұрын

    The instructor did a really good job in explaining and the video is also done really well.Thanks a lot ♥️🇧🇩

  • @jayasreekuppili5189
    @jayasreekuppili51896 жыл бұрын

    that's so easier to understand and perfect. Thank you

  • @Pain3088
    @Pain30886 жыл бұрын

    This video is fantastic visually and helps me understand better while doing revision for my University Exam.

  • @mukhammadaliochilov1493
    @mukhammadaliochilov14933 жыл бұрын

    Amazing video impressed by how u explained it in 8 minutes. Thanks!

  • @samuelkwashie3693
    @samuelkwashie36935 жыл бұрын

    Thank you. Just what I needed to prepare for my test

  • @remixowlz
    @remixowlz2 жыл бұрын

    THANK YOU SO MUCH! I DID NOT KNOW THAT THIS CONCEPT WAS ACTUALLY EASY!

  • @arthurntembula
    @arthurntembula6 жыл бұрын

    Thank you

  • @Tharlesyoutub
    @Tharlesyoutub5 жыл бұрын

    This Channel is SO good!

  • @sirrazergaming9570
    @sirrazergaming95703 жыл бұрын

    You have no idea how much I appreciate this🌹🌹

  • @loreliyn
    @loreliyn Жыл бұрын

    Thank you for this lecture!

  • @samaysoni4015
    @samaysoni40155 жыл бұрын

    Amazing video, really needed this concept to be explained

  • @ExcelTutorials1
    @ExcelTutorials12 жыл бұрын

    very clear explanation, thank you!

  • @plant_lover_next_door
    @plant_lover_next_door2 жыл бұрын

    Absolutely clear! Thanks so much!

  • @bharatmavani5835
    @bharatmavani58354 жыл бұрын

    Very wonderful and inspiring for all economic students for explined the IC curve

  • @dagmawittarekegn2957
    @dagmawittarekegn29573 жыл бұрын

    Where have you been all my life?😂😂 thank you so much! In 8 min I got to understand a lot of things that I didn't know very well

  • @ogonnaosuafor1584
    @ogonnaosuafor15843 жыл бұрын

    You are the best Ma'am. Thank you so much

  • @haneaordonez3274
    @haneaordonez32745 жыл бұрын

    Thanks, great explanation and video edition!

  • @uzair3d
    @uzair3d6 жыл бұрын

    Just epic explanation! Hats off!

  • @user-lz2og5xb1o
    @user-lz2og5xb1o3 жыл бұрын

    That was amazing! You explain it sooo easily

  • @rohankumarverma4309
    @rohankumarverma4309 Жыл бұрын

    Thanx mam, You are great in explaining more no. of concepts in a single video in a simple way😊

  • @ankitpal5124
    @ankitpal51243 жыл бұрын

    A very informative tutorial. Things were easier to understand.

  • @rocketfeeds907
    @rocketfeeds9076 жыл бұрын

    I give major portion of pie to video editor. Wish I get classes with editor

  • @anushkagupta3897
    @anushkagupta38975 жыл бұрын

    This is amazing thank you so much!!

  • @managementstudies489
    @managementstudies4893 жыл бұрын

    Beautiful explanation

  • @thoxha
    @thoxha6 жыл бұрын

    wow you are amazing. I am doing my MBA online and it was difficult to understand the book. Your explanation is simply excellent. Thank you from the bottom of my heart.

  • @joanagirante

    @joanagirante

    5 жыл бұрын

    How neat! I'm glad you found it useful. Thank you from the bottom of mine. -- Joana Girante

  • @old1621
    @old16213 жыл бұрын

    Thanks, y'all helping me a lot with my class 11th Microeconomics

  • @carrysnowdrift7890
    @carrysnowdrift78903 жыл бұрын

    You are an amazing teacher

  • @jasminhamzic5617
    @jasminhamzic56176 жыл бұрын

    Prof. J. Girante, Obrigado! Current situation >>> 02:56 am, facing micro-exam in 5 days. You earned nothing materialistic, but your karma level increased drastic. Best regards from Germany Jasko

  • @joanagirante

    @joanagirante

    5 жыл бұрын

    Thanks, Jasmin! Right back at you! -- Joana Girante

  • @liyaxin9144
    @liyaxin91444 жыл бұрын

    can I say it is mesmerizing to watch this video? learning can be a really fun process

  • @rebwaromer9323
    @rebwaromer93235 жыл бұрын

    awesome video, you guys are best teachers ..

  • @pratikchandak9679
    @pratikchandak96795 жыл бұрын

    You ma'am.. you and your team... Nailed it... Good work... Keep it up.. i understood a concept from CFA due to this video..

  • @sheikhjahidhasan82
    @sheikhjahidhasan824 жыл бұрын

    thank you. my professor should watch your video.

  • @rowenang6761
    @rowenang67614 жыл бұрын

    This is so helpful!! Thank you!!

  • @rohithashva3266
    @rohithashva32664 жыл бұрын

    Thank you It helped me a lot

  • @kelvinkk577
    @kelvinkk5775 жыл бұрын

    Clear explanation. Thx

  • @EN-wd9yu
    @EN-wd9yu3 жыл бұрын

    Thank you very much!

  • @jayt7090
    @jayt70905 жыл бұрын

    Thank you so much

  • @jackdavis8596
    @jackdavis85965 жыл бұрын

    A terrific explanation.

  • @SUuperCLasSH
    @SUuperCLasSH6 жыл бұрын

    Well explained thanks!!

  • @srinath5577
    @srinath55773 жыл бұрын

    Recomended by my friend and Subscribed after watching this video.. You explained very well. .

  • @sofialzy
    @sofialzy3 жыл бұрын

    great explanation, thanks a lot

  • @tanvirulislam2796
    @tanvirulislam27963 жыл бұрын

    *I am Satisfied* *Thank you so much* 🙂

  • @gary6516
    @gary65164 жыл бұрын

    Very nice video and well explained.

  • @HASSANGAMINGSHOW
    @HASSANGAMINGSHOW2 жыл бұрын

    splendid way of presentation, I salute u mam...

  • @conorthemc
    @conorthemc4 жыл бұрын

    Never leave. This makes more sense than the hundreds I've spent on text books.

  • @DivyaSingh-ln2kz
    @DivyaSingh-ln2kz5 жыл бұрын

    Nice explanation I understand everything

  • @amrabdelhakim1585
    @amrabdelhakim15853 жыл бұрын

    Thank you!

  • @amiraliyevski8069
    @amiraliyevski80695 жыл бұрын

    Very effective video appreciate it!

  • @hindmarmash3088
    @hindmarmash30882 жыл бұрын

    Thank you so much 🥰👍

  • @mackndanina262
    @mackndanina262 Жыл бұрын

    Great video!

  • @WilliamTTarplainII
    @WilliamTTarplainII2 ай бұрын

    Thanks so much

  • @VeryProPlayerYesSir1122
    @VeryProPlayerYesSir11225 жыл бұрын

    thanks. this helps me to improve my PUBG inventory management. I usually carry 2 guns chambered in different calibers and the space in my backpack is limited.

  • @kokos9545

    @kokos9545

    5 жыл бұрын

    😂😂😂

  • @mundubiveronica7664

    @mundubiveronica7664

    3 жыл бұрын

    😂😂

  • @uviniranaweera
    @uviniranaweera4 жыл бұрын

    well explained. keep up ur good work.

  • @srinivaspannati7170
    @srinivaspannati7170 Жыл бұрын

    Very informative mam. Thank you.

  • @alissadelgado1695
    @alissadelgado1695 Жыл бұрын

    thank you

  • @DilipKumar-du1wo
    @DilipKumar-du1wo4 жыл бұрын

    That's so helpful thank you

  • @oscarsantacruz3148
    @oscarsantacruz31487 ай бұрын

    GREAT VIDEO

  • @jiandanplayer5283
    @jiandanplayer52833 жыл бұрын

    Thank you soo much maam..very informative and easy to understand

  • @aftabsada2282
    @aftabsada22823 жыл бұрын

    We need more from you miss..ur brilliant 5/5

  • @EmotionalSupportCapybara
    @EmotionalSupportCapybara5 жыл бұрын

    Omg her voice is so soothing? Very unintentionally ASMR

  • @_MFatinIstiaque
    @_MFatinIstiaque3 жыл бұрын

    Smartly explained ✨

  • @mirkhakimadashaliev2195
    @mirkhakimadashaliev21954 жыл бұрын

    your videos are extremely helpful thank you so much

  • @MarginalRevolutionUniversity

    @MarginalRevolutionUniversity

    4 жыл бұрын

    Thank you! -Roman

  • @JackyWakadia
    @JackyWakadia Жыл бұрын

    If I am not mistaken, for the case of Perfect Substitutes, we can only say that the MRS is constant (might not necessarily be 1), right?

  • @bhanusharma8095
    @bhanusharma80957 жыл бұрын

    what is this beautiful accent

  • @MarginalRevolutionUniversity

    @MarginalRevolutionUniversity

    7 жыл бұрын

    Prof. Girante is originally from Portugal. I could listen to her talk all day! :) -Meg

  • @magicomerv

    @magicomerv

    5 жыл бұрын

    she speaks the language of economics