0:33 If only he knew how relevant that would become...

@lots2410

3 жыл бұрын

yesssss

Econplusdal is the plug🔌

this man low-key predicted covid classic dal

Thank you very much for these videos, I cannot explain how appreciative i am of them

This is how one must teach! Amazing!

Simple, clear and to the point! You make the subject very interesting... Thank you very much!

Very good video! Simple but very effective explanations that even somebody who doesnt do economics understands

Amazing! What a legend!

I'll say it again... best econ teacher ever!

Thanks very much. You legend! Keep it up

i like your brief explanation truely saying i was stuck on externalaties for few weeks and finally got out thank you very much by the way i like your british accent

thank you!! and keep making videos!!!

A video that actually really helped

Your explanation is brilliant!

God bless you

this man is a living God

i always try to remember to like all your videos. your explanation is solid. i really appreciate your help. carry on making more videos!👍👍👍👍👍 my way of hitting the thumbs up button is my way of wanting you to earn revenue in return for your hard work!

You're a legend

Thank you!

very good explanation sir , thank you very very very much for making these videos

Great video broooo

0:33 An anti-vax mum would probably mark you down

@itoldyounottotouchit3336

3 жыл бұрын

Relevant right now lol.

legend

Why does the market equilibrium only take into account private costs & at 3:08 do you mean the extra unit consumed? because i thought that part was +ve externalities of consumption, just a little confused there. Other than that great videos and I love the list you put together, very helpful!

AMazing description . But not included that ,what the graph looks like when government take some action to regulate the market

Dal you're a wavy guy but isnt potential welfare gain more accurate than welfare loss. dont wanna question the master but thats what the cgp book says

@EconplusDal

7 жыл бұрын

I really don't like the wording of a 'potential welfare gain'. If welfare could have been gained but isn't then it is being lost by definition! Keeping things simple is my philosophy

@KungFuKeni

7 жыл бұрын

uak mate dal put you in your place! Shoulda lead by your own words "don't question the master"

@usman99628

7 жыл бұрын

loool who are you mate? suck out

@realdvgarg

4 жыл бұрын

@@usman99628 yoooooooo ded

@mockmay2401

3 жыл бұрын

@@EconplusDal Sir your philosophy is saving my life

why is price lower if MSC take into account external and private cost. surely it should be higher than private cost price to reflect true cost of production to society hence be charged as a higher price....or is that just for negative externalities

the beginning of my economics studies. wish me luck guys

Hi Dal, so sorry to bother you with this silly question. I don't understand why the social costs are greater than the private costs if these are POSITIVE externalities. Would really appreciate if you could shine a light on this situation xx

Yo Mr Dal, my teacher taught the positive production externality the same as you have - the net welfare loss derived from the initial equilibirum on the diagram. My textbook and the graphs on google for positive production externalties is derived from Q2 though, with welfare loss extending upwards to the MPC curve... not sure who to believe

@tylerzhang5442

3 жыл бұрын

The are the same with different ways of thinking.

Saving A LEVELS FOR ME

Does it matter if you call it welfare gain instead of loss? Because we used welfare gain in class and i'm not sure if it's correct or not...

@jamas3000

9 жыл бұрын

LJ Avr Basically it's welfare to be gained by increasing production. So you could say that, but personally I would go with welfare loss to be on the safer side.

@EconplusDal

8 жыл бұрын

+jamas3000 Nice reply, it is a welfare loss. Stick with that

Why are the MSC and MPC equal for consumption, but not equal for production?

you spelt externalities wrong XD thanks for all you do, mr dal!

Positive exteralities

Third party benefits that are ? Didn’t heard the word was it crew ????

What’s the difference between IB22 and IB23??

U look like my boy zain nazar

Can you still get a diagram right if you put MPC=MSC instead of MSC= MPC ?

@jennellex6774

5 жыл бұрын

Yeah it’s the same thing 😂

@rafiqwarrior2

5 жыл бұрын

Jen X lol just making sure

Does the msc=mpc curve ever change ?

@realFriedrichHayek

8 жыл бұрын

+Max Attwood In this example we are looking only at only the benefits of consuming/producing a good. It is fine to think about the other curve but for just positive externailites it is not needed.

@Account2129

8 жыл бұрын

this curve only moves when drawing positive or negative externalities in PRODUCTION as the msc=mpc curve is like the supply curve( supply goes hand in hand with production just as demand goes hand in hand with consumption)

3:07, 6:20

Is it always the social curve that moves left or right?

@daniabassam1857

8 жыл бұрын

+Sakib Ikram yes

Can somebody explain to me why positive externality is a market failure?

@EconplusDal

9 жыл бұрын

***** Remember what market failure is: the inability of the free market to allocate resources at the social optimum. Because of the extra benefits (3rd party benefits) arising from positive externalities, not enough resources are allocated to goods/services that generate them. Society is therefore losing out on potential welfare from the under-production and subsequent under-consumption of such goods/services. The fact that quantity in the free market doesn't reflect the social optimum quantity reflects the fact that there is a misallocation of resources - the definition of market failure

But the marginal social cost on the graph at 6:52 is further to the right of the marginal private costs - doesn't this show that that is a negative externality because there is a greater cost to society than the private factory owner?

@shvetankhasal1354

7 жыл бұрын

have you got the answer to this now, cuz i wanna know!! my doubt exactly

@EconplusDal

7 жыл бұрын

Shve Hasal If social cost is to the right of private cost it means that costs are lower not higher. Hence positive externality

@adamtaylor8990

6 жыл бұрын

The curve shifting to the right indicates a greater level of production of a good that provides welfare to society, this caused price (also cost if that helps) to drop thus indicating a lower price for a good that has benefits to society.

6:43 "..by producing them we gain more benefit than costs", what does that mean? BTW great content, really appreciate it!

@abhishek17ajay

5 жыл бұрын

i've the same doubt

@reecemcbride4804

3 жыл бұрын

It means the benefits to society outweigh the negative costs to producing them. For example the positive impact of taking a vaccine to protect yourself and others from illnesses, outweigh the costs of production when making them. Hope that helps

Why would positive externalities in production be social costs and not social benefits? P.s exam tomorrow!

@starsky7078

8 жыл бұрын

+dan folo cost = firm, benefit = consumers

POSITIVE EXTERALITIES :p

What do you mean by poach?

@vishaljain4915

7 жыл бұрын

steal, some firms can just offer a particular worker a higher wage if they work for their company and 'poach' that worker.

Hi sir, thank you for this amazing explanation. I have one question. Say if a firm has researched and developed a new medicine, should this be a production or consumption externality? I think both the production and the consumption of the new medicine cause external benefits to the society.

@karthagoy3142

2 жыл бұрын

Yes i know what you mean but i still think it is positive externality of consumption because if the vaccines get manufactured and not used it helps Nobody.

you spelt externalities wrong on the whiteboard!

@Normaldude10174

3 жыл бұрын

oh my goodness. The whole video is now worthless

daddy dal

whaaaaaaaats the difference between merit goods and positive externality?

@Equitybonds24

6 жыл бұрын

BliiiiBlaaaaBluuuub a merit good will cause a positive externality. When it's consumed welfare is gain by the consumer as well as third parties. This could be education or healthcare.

lowkey you spelt externalities.....

covid