You are seriously making the life of students of economics so much BETTER and easier! I have lots of fun watching your videos and learning so much in such a short amout of time. It's very effective and you're so professional. THANK YOU A LOT! Keep up the good work ! =)

No one has explained this as well as you guys in a short video, thank you.

Straightforward, to the point, and clear. I wish all YT videos were this helpful. Many thanks!

***TEACHER RESOURCES*** Supply and Demand 5-day HS unit plan: mru.io/gmn Law of Demand 45 minute lesson plan: mru.io/law-demand-b0aec Assessment questions: mru.io/principles-d6496 More high school teacher resources: mru.io/high-school-63d8d More professor resources: mru.io/university-teaching-42d05 ***CONTINUE LEARNING*** Next video-The Supply Curve: mru.io/supply-curve-95786 Practice questions: mru.io/demand-curve-6368b Full Microeconomics course: mru.io/7sr

this is what I am searching for years.THANK YOU SIR YOU JUST MADE MY DAY.very clear explanation love your videos keep making and make is love economics

@subramaniamraghuraman5585

5 жыл бұрын

I actually dislike economics as a study but seeing this video.. make me learn more n more

thank you for the videos! I feel I will be ahead of the curve come the first day of class!

Let’s talk about Oil! *America intensifies*

So quick and delving. I love that.

Thank you for this video. I haven't learned demand curve this way and I found it really useful! Thank you

Really enjoy the videos, short and efficient...thank you.

Such a nice way of teaching . He z really a gr8 teacher . I appreciate his way of teaching

Wish economics was taught this way back in the university!

@Joke9972

8 жыл бұрын

Composed materials and average price and stock control could easily have been incorporated in just 5 minutes more of video. Try 'money mechanics'.

You guys make economics seem much more interesting! Thank you so much :)

@subramaniamraghuraman5585

5 жыл бұрын

Seriously a BIG YES

Your videos are helpful and engaging! I really appreciate them.

This is what i'm searching for. GOOD EXPLANATION❤😍😍

Amazing lecture bro, loved the way you explained the things, wish I had such profs

Liked and subscribed. Helped me a lot with my econ homework :)

wow, you explained very well . thanks

Obrigada pelo vídeo sobre economia curva de demanda. Fantástico

HELLO PROFESSOR, THANKS FOR THE VIDEO IS REALLY HELPFUL! I HAVE A QUESTION. BETWEEN INCOME AND WTP WHAT WOULD BE THE DEPENDANT AND INDEPENDENT VARIABLE AND WHY? THANKS I HOPE TO HEAR FROM YOU SOON

thank you so so so much, your videos are easy to understand and the were very useful for me. I wish you explained Phillips curve but thank you anyway.

@MarginalRevolutionUniversity

7 жыл бұрын

Thank you! Phillips curve is on our list to cover. :-) Roman

@FletchforFreedom

7 жыл бұрын

There are no capitalist slaves. And it's hilarious to that it is suggested that people are being convinced by capitalism to act against the own interests by believers of a long dead failed journalist whose positions were completely debunked more than a century ago (and who choose to post under the image of a murderous thug with no redeeming qualities).

Love your videos .. Thanks a lot

@froilangarcia6842

8 жыл бұрын

conectar con el perro

Thank you for this video :)

Great style of animation

That's kinda funny how the people just rush towards the store in black Friday , it reminds me a scene from train to Busan zombie rushing lol. But to say the explanation was amazing 😄

Excellent work.keep it up

Why is the demand/supply curve always continous ? Do we assume that the quantities traded can be in fractions ?

What a high quality video excellent

Step 1. Open Expensive Store Step 2. Make Sure everyone knows its an expensive store Step 3. Make It Expensive Until Holidays Thanksgiving to Christmas Step 4. Have Sale During Holidays Step 5. Make sure everyone knows its a MASSIVE SALE Step 6. Hire Security Step 7. Rake in Dough

@FletchforFreedom

7 жыл бұрын

+Goatsuit Gaming Step 8: Realize "raked in dough" doesn't come anywhere near enough to cover your expenses during the rest of the year when your prices weren't competitive Step 9: Contact bankruptcy attorney Step 10: Discharge employees and close doors Step 11: Wonder where you got the idiotic notion that such a business model ever worked at any time

@GS-zx1kk

7 жыл бұрын

FletchforFreedom its a joke, chill commie

@FletchforFreedom

7 жыл бұрын

Yes, it's a joke. I'm as far from a commie as is humanly possible.

Thanks sir and very good video

These are great videos!! I can't figure out how to get to the practice questions. It doesn't let me click on it and there is no link to them in the description. Please help. Thank you.

@MarginalRevolutionUniversity

8 жыл бұрын

+Nicole Reynolds Sorry about that, Nicole! Someone on our team is actually having the same problem with KZread's annotation feature not working on her account. We're troubleshooting and I'll let you know when we've solved the issue. In the meantime, you can access the questions on this video's page on our site: www.mruniversity.com/courses/principles-economics-microeconomics/demand-curve-shifts-definition Look for "Practice Questions" on the right-hand side, just under the video embed. -Meg

I'm just starting to watch your videos and it seems to be very interesting. Let's see... )

Thanks u saved me

Thank you so much!

Thank you so much sir 😊🙏

Thank you... 9years later.

I got a question. Why is the Price in X-axis instead of Y-axis and Vice versa for Quantity? Why not reverse?

good one! thank you :)

thanks so much

Great video

Is there two errors in the video Please show them

@claudiarivera239

6 ай бұрын

What were they? The 2 errors

You cannot use oil as an example for the demand curve when there is no substitute and people have to buy it nearly regardless of the price.

@rogerjones5970

5 жыл бұрын

It has value and you are willing to pay ...that is demand

Guys! I need help! My professor has asked us to create a business plan and explain how law of demand and supply apply to it. I don't know where to begin with. Any ideas?

Fricking, THANK YOU!

great videos!

@MarginalRevolutionUniversity

7 жыл бұрын

Thanks! Roman

Awesome representation

Thank you

Thank you so much from india

Saudações do Brasil 😀

Thanks lots

Thanks I got it, now I will be able to pass through my teachers terrible explanations.

Why demand curve is not strait??? How does it work

Thanks for the video, but I think oil is not the best example here because it is relatively inelastic and a change in price doesn't effect the quantity demanded as much as you have explained

@sportaholic321

Жыл бұрын

So just create a different example for yourself does it really matter 😂

@kario360

Жыл бұрын

​@@sportaholic321you got a paper today?

thank youuuu ily

For the answer on "what can't melt steel beams", see 2:02

your videos are great.... which technology do you use for creating videos? Pls reply.

@MarginalRevolutionUniversity

8 жыл бұрын

Hi Pratik, We use Adobe After Effects and Adobe Premiere for most of our stuff these days. Best, Roman

@andrewpryde4198

8 жыл бұрын

Y

nice job

After I pass these exams, will I get a certificate or recommendation to employers, since I reside in the Philippines?

@saahilgill1304

4 жыл бұрын

NO, go to law school

One man said that a college degree was a waste of time, so he used to provide a 5 minute course, arguing that he could teach them everything they would learn in their college life in just 5 minutes. One of his courses was on economics, and all he taught was this: Supply and demand in 5 minutes. More supply less demand. Less supply more demand.

At 1:47, on the graph, if we price $55 a barrel making 5 million barrels, we make $275,000,000. Cool. Now, we should only lower the price if we'll make more money doing so (or at least not lose money). At $20 a barrel for 25 million barrels, it makes sense because the revenue is now $500,000,000, much more than the $275,000,000 at the start. However, at $5 a barrel for 50 million barrels, we only make $250,000,000, which is less than the $275 million we started out with. That's poor pricing. The price should be nothing less than $5.50 per barrel at 50 million barrels if we want to not lose money when lowering the price, or else, it doesn't make sense to produce that many barrels.

its great...

To the people downvoting this: Is there wrong information here or infromation shortened so an important point is missing?

thnk u

The graph is confusing. Should price, the invariant axis, be along the bottom? And the quantity demanded be the y axis? The curve would look the same but moving from left to right along the curve would show the change in demand as the price increases, much more intuitive. Is this a convention in economics that the price is always labeled along the y axis?

@catherinewagner3553

9 жыл бұрын

normalasylum Yes, this is the convention in economics. It is this way because when we look at other graphs later on, such as when we combine it with the supply curve, it forms a pretty intuitive system.

@nathanrobinson1099

8 жыл бұрын

+normalasylum Economics is as old as the conventions of graphing. Economics stuck to tradition on this.

@torosalvajebcn

5 жыл бұрын

stop complaining about the way economics Works.

Thanks guys. I am seen this in 2022

Very great. So, what's the software for make the video? #ZFH

whats the main guy in the intros snap ??

I took micro and macro economics but i passed both courses with very low grade :( i aman international student. the biggest issue for me is that when the exam comes. i can't get a good grade no matter how hard i try. i take notes and reverse them but still the same. i wish someone tells me the secret of how to beat it

@TheBIGJake111

7 жыл бұрын

you must think economically. Looking over my notes in class never once helped me, what helped was thinking economically. I got an A in micro and macro and have tutored many other friends that have a similar issue as you. The most important thing is to start at the begging and make sure that for SURE you understand Marginal benfits and Marginal Costs, thinking at the margin alone is all it takes to get a general economic basis.

infinity turn left demand turn proof quality turn light.

Think you should start an app

Nice.

Ur wrong at 1:40 it’s quantity demanded not just demand of barrels

haven't seen a more American thing than teaching economics by using oil, nice video

why should price in y axis and quantity is x axis

@giorgiosala6864

8 жыл бұрын

because people are stupid

@shivkumar-dq2ej

7 жыл бұрын

+Giorgio Sala fight might live

@TheBIGJake111

7 жыл бұрын

its a tradition honestly, the earliest economist did it this way, and technicially price is in response to the amount on the market. there is no real definitive way to make one a response and the other the X, so we just use what has always been done.

@alexanderturner1234

7 жыл бұрын

It's just a tradition which has stuck, even though it may seem counterintuitive.

is there any videos of economic history of india? please tell me

@MarginalRevolutionUniversity

7 жыл бұрын

Hi Anukriti, We have a handful of videos that deal with India's economic development. Here's a list: bit.ly/2dJxxj0 Hope that helps! Meg

@anuyayy21

7 жыл бұрын

Thanku so much

@metatron4890

7 жыл бұрын

+Marginal Revolution University what about ancient economic behavior? like ancient china or egypt?

@MarginalRevolutionUniversity

7 жыл бұрын

Hi Meta tron! We don't have anything in our library that goes quite that far back. -Meg

is one problem payment was stagnacy 40 yers and price is going hight that is a problem capitalist

Mantap bpk

Then why don't airline prices follow the demand? So many other products. The curve is bogus.

@IonSterpan

7 жыл бұрын

This video is about the relationship between price and the quantity demanded. This relationship is shown by each point _along_ the demand curve. The curve simply shows that as the price (per unit) goes down, the total quantity demanded for that product rises. If I understand your question correctly, you seem to ask about a different issue: why does the price rise when the quantity demanded increases regardless of what the price is. Sometimes, due to factors not plotted in the graph, the quantity demanded would increase (move to the right) at any given price, or at 'all prices'. We represent that is by shifting or moving the demand curve as a whole to the right.

@lindasheridan1721

6 жыл бұрын

There are exceptions that do not obey the law of demand. Such as luxury goods, necessities, addictive goods, speculative goods etc.

Forgot...high demand for college...and?

@IonSterpan

7 жыл бұрын

A higher "demand for college" means that for any possible price of college, there is now more quantity demanded (due to an increase in some variable not plotted in the graph). In that case, the demand curve would shift left and then the graph would show how the equilibrium price would rise. The graph would represent the phenomenon of competition between demanders of college, who would bid up the price to get the college spots ahead of each other.

Diwali in India is black Friday for us

I'm from India

nice

I didnt get it oil in the curve😢

@brekreney5734

9 ай бұрын

the video is terrible at explaining it

hi, im from indonesia and i want to have permission to use a few content in this video for a school asingment. do you allow me to use it?

@MarginalRevolutionUniversity

8 жыл бұрын

+Desmon Saragi Hi! We encourage the use of our videos in the classroom. For our full Terms of Use, please see our website: www.mruniversity.com/terms-of-use

Explain why demand curve downward slopping curve

Lol - this theory was blown out of the water with covid 19. Negative oil!

CAN I HELP ME

Jane Himarios sent me here

WHO ARE HELPING YOU DOWNLOAD THIS VIDEO WITH VIETNAMESE

@NgocAnh-oz5wl

8 жыл бұрын

nobody

@serdarates8266

7 жыл бұрын

Nhung Trần i

@gytoser801

2 жыл бұрын

@@serdarates8266 Vietnamca konuş

I can not be the only one here who is utterly confused on what a demand curve is explaining? There are far too much assumptions, I have no idea what the x or y axis mean nor as to why when quantity demand goes up, why people would be willing to pay less? I am so utterly lost and jaw dropped that such a simple concept like this has just absolutely fried my brain. I don't think I've ever been this confused on one entire subject. Are the axis's even correlated? Does the X axis react as a result to a change in the Y axis? What the fuck is this?

@hrishantkapoor3705

5 жыл бұрын

People will be willing to pay less..... because of the application of law of diminishing marginal utility Explaination= As u consume more and more of a commodity( eg: sandwich). The satisfaction gain by each sandwich will tend to decline.....and ultimately it will become zero.....and it can get negative also So, if 10th sandwich which u r consuming is giving 0 satisfaction!!! So will u consume more?? Obviously no!! U would not want to pay a single penny for the next sandwich... Because of this only....more u consume (demand).....u wil be willing to pay less and less amt.

So they are giving away extra barrels for free? Why sell more for less

@Sukunxa

2 жыл бұрын

that has to do with suppy not demand

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黄老师nb！

Any ASoSE Student? 😅😅

Its a great video but becomes miss-leading when you don't consider the concentration of wealth which drives inflation of products for maintaining and increasing profit margins.  which has a feedback effect in driving up prices, if you can sell a product for 100 times the price and there is still someone to buy, it makes more sense and as profit margins increase aggregate demand/purchasing power diminishes and reduces access to the economy driving up consumer lending to make ends meet.  this is further exacerbated by trade deals allowing companies to make products overseas and exclude the people that built their company in their country of origin from participating in the economy, welcome to the information age. some of us can recognize the declaration of economic warfare by neo-liberal globalists.

@FletchforFreedom

7 жыл бұрын

+Pawadin What's misleading is the absurd-on-its-face notion that any "concentration of wealth ... drives inflation of products for maintaining and increasing profit margins." Every aspect of that nonsensical claim fails spectacularly. First, the disproved fairy tales of Thomas Picketty notwithstanding, there exists not a shred of evidence that concentration of wealth causes any difficulties whatsoever in a market economy. Second, inflation is a purely monetary phenomenon driven by the number of dollars available to chase a given set of goods and services so, even if wealth concentration were a problem, it is objectively impossible for it to have any effect at all on inflation, let alone drive it. Third, inflation has no role whatsoever in "maintaining and increasing profit margins". Quite the contrary, inflation adds another factor that must be taken into account when determining prices. The absence of inflation would make maintaining profit margins easier (on top of tremendously benefiting the economy as a whole). There exists no "feedback effect" as the underlying premise is completely false. Mr. MacDonald has dealt with the "100 times" absurdity (and, while not specifically mentioning it, shredding the notion that it could increase "aggregate demand" or reduce purchasing power (which reflects the goods and services options as a whole - not merely a single product). I'll only add that you dig yourself even deeper with the hilarious implication that consumer lending is driven by a need to make ends meet. Similarly, Mr. McDonald has schooled you quite well on the issue of foreign trade. You do seem to have included another massive canard that was not addressed regarding "the people that built their company" being excluded. Who do you believe "built their company? You seem to be suffering from the all-too-common delusion that front-line workers enjoy that distinction and that it is possible to exclude them from their due. This Marxian imbecility must be stopped whenever it rears its ugly head. The simple reality is that workers are simply providing labor services for which the market *guarantees* that they must be fully compensated for the labor services they provide. It is economically impossible to underpay workers. Maybe you should stop trying to recognize declarations and spend a little more time trying to deal with something that has completely escaped your attention: reality.

ULIMA PRESENTE, GAAAAAAAAA

Om shanti k good

DON'T NEED OIL AS MUCH ANY MORE SO OIL WILL GO DOWN . PEOPLE IN THIS SKILL NEED DIFFERENT SKILL IN SOMETHING ELSE,.. LOOK FOR A JOB IN SOMETHING ELSE LIKE SOLAR