Demand and Supply Explained- Macro Topic 1.4 (Micro Topic 2.1)
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- Опубліковано 7 лип 2024
- Thanks for watching. In this video I explain the law of demand, the substitution effect, the income effect, the law of diminishing marginal utility, and the shifters of demand. Make sure that you understand the difference between a change in quantity demanded and a change in demand. This is the first video in the unit Playlist. Make sure that you watch the the next two videos about supply and equilibrium so you can put it all together. I hope that you like this video. Please like, leave a comment, and subscribe. Note never drink a whole gallon of milk
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Supply Video
• Demand and Supply Expl...
Video Explaining Shifting the Curves
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• Video
I wish all teachers had the same enthusiasm and passion for teaching as you. It makes it easier for us students to understand and comprehend the material. I can tell you love economics and love teaching students about it. I have a macroeconomics exam coming up shortly and your concise videos have taught me more about economics than my professor has in 3 weeks of 75 minute lectures. Please continue to do what you are doing. I love it.
So true. He makes learning fun!
...
i agree those years are over :(
the gallon of milk and milk drinking are definitely keeping people's attention.
YEA! I like it!
When school starts, the demand for these videos increases
Nice one
Nice one bro
you are using the terms
With constant supply.
and when exams starts, demand for these videos increases tremendously.
In under 7 minutes, you've done more for me than my teacher has in 4 weeks, no joke.
Thanks it helped a lot.
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dude exact same here
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same here
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This guy is the reason why I passed my economics unit at Uni!
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Nancy same here
Same here, my prof couldnt teach, so I went home and watch his videos. Ended up with all As in micro and macro econ ^_^
Nancy, I guess, i am going to pass my Gcse too.
This man was one of the Econ teachers in my high school. Awesome guy I heard. I remember when he left the school to start this channel, didn’t know at the time why he left. He sure made the right choice!
who else was assigned to watch this video at home for econ because your school closed for corona
Skylar Kulas me
me 2
Me
I am going to prep class but i am interested in this topic that's why i am watching this video
Not assigned, but it was posted as supplemental reading to help with the material. IMO he explains it better than my professor
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Jennifer Bonifacio what grade did you get in this class?
U will pass!
Harry Pusey stfu that was like a year before you commented
college is a scam
BaconMan I feel that way too
Thanks Mark Cuban!
i shed a tear laughing at this comment
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Omg i just noticed😂
ME TOOO HAHAHHA
Im dead, there really is a resemblance 😂🤣😭
Sir you have just covered up 3 hours of my lecture in 7 minutes, what a LEGEND. thank you
You should add this-------> Trash effect
Basically, when your economic teacher is trash, the demand for your videos increases
It's price of related goods shift, which comes under substitute. I know its a joke, but just saying.
I believe this is similar to comparative advantage that is discussed in global international trade, in that you would rather import the video's knowledge over your domestic college economic teacher because the information is more accessible and free. What your teacher does not supply in is good information, so the imported material has a higher demand.
@@wallamazoo01 I didn't think i would laugh at this comment but here we are
thanks a lot for this video. I've always looked dumb whenever the teacher is talking or explaining a thing in class....... my first youtube comment goes to you... thanks a lot
+Yusuf KailaniKailani Yeah!!!! First comment!!! Thanks Yusuf
This is like taking the virginity from a comment...
@@juanpablogaviria6004lol
You my friend, have just saved my AP Econ grade (and probably will for the remainder of the year). I am eternally grateful.
Theory: They haven’t given him water or food for days so they give him milk but he’s lactose intolerant
Way!! Ur really genus😅. You have capability of Becoming a doctors ..😁
I didn't major in economics in high school and now I'm studying it in varsity- I have been stressing until I saw your videos.Economics it's now my favorite module and I'm even able to explain to my friends.. Thank you so much
I wish he was my teacher
@The Best Moviess chill bruh 💀
@The Best Moviess smooth
Calm down
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What's up baby
"that sip of milk is delicious, cold, refreshing" - Proceeds to hesitantly drink it in disgust lmao
Nobody
Literally nobody
Not even a single memer
This man
I will drink a gallon of milk as I explain demand with milk
LMFAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
huh??? sorry, not following you!
@@angiedevoreCAT wot
Honestly, I think the marginal benefit of us random strangers on the internet getting a laugh out of Jacob Clifford drinking an entire gallon of milk outweigh the marginal cost of him suffering
Sir you amazing, in India we regard teachers like you as god (literally) please do continue to make such videos as it inspires and solidifies our concepts. Thank you again.
what if he was comparing tequila's
Andrew Lozano I’ve been laughing for a very long time now and now my parents are asking me why I’m laughing while studying xD
Damn thatd be dope
@@aditrikumar4850 What did he say?
I wish there were more people like you doing these things. Like for other courses: chemistry, or physics, etc. This is absolutely amazing, helps so much
+Leonardo Yip Me too:)
I learned more by watching this 7 minute video than my Econ Professor has tried teaching us for the past week.
You just explain what my teacher been teaching us in 1 month in just 7 minutes , thank man
I owe my grade in economics to this man. He clears all my doubts.
I have fallen asleep in EVERY recorded video on Macro I have watched, LOVED THIS. thank you for doing. This class, while not hard, I have found beyond boring. Your videos are engaging and refreshing. WHERE HAVE YOU BEEN ALL SEMESTER!
Omg I love you Clifford for making me shift from someone who did not like Econ to someone who is loving each of your videos, concepts explained in such simple form with relevant examples. Thanks a tonne for demystifying the Econ concepts
"I think I'm lactose intolerant”
2 seconds later *chugs milk*
mood
Lol. Have you tried tiger nut milk? It's wonderful. Add a little ginger and coconut milk or water and thank me later
I just learned more from you in 6 and a half minutes than I did from my teacher in the last six and a half weeks, which is great because I have a 6 chapter exam in like two days. Thank you!
I have a final tomorrow for econ and this is definitely helping. Thank you
+Alexandria Cowles Good luck on your final
I have learned so much in watching 2 hours' worth of his videos along with buying the review packet compared to 4 weeks' worth of econ 'lectures'. Thanks Jacob!!
I´m an English teacher with a major in Economics and Business and I´m learning how to teach Econ principles to Spanish-Speaking students using English as the vehicle of intruction (CLIL). The process is amazing although somewhat complicated because of the specialized vocabulary and concepts. I´ve taught these principles to my students and I try to give them extra material to read or view to consolidate their learning. These videos are an amazing tool for review and the energy and enthusiasm you offer is the icing on an already good-azz cake. Thank you very much!
This is amazing, you are literally doing my Junior IB economics course, I'm doing great thanks to you!!
I just love how using milk as a primary example for most of the terms explained helped me way more than my teacher did
I have to know economy for my CSET test. This is so much better than trying to read dry facts straight through. Thank you for explaining it so well that I could actually explain to someone else. I appreciate your work.
Its nice that after missing two days of econ, I can get a summary in a few minutes. Makes life a lot easier
Thank you so much for helping me study for my exam! I've watched several of your videos and they are soooo helpful!
You are absolutely incredible. I have my uni exam tomorrow morning and you just cleared so many things up for me.
Subscribed, liked, done and done.
PLEASE NEVER STOP MAKING VIDEOS!
I'm a new Economics teacher, unexpected change in teaching subject, and Clifford has made a huge difference in my experience. As others have stated, he explains the concepts not only well but also with unbridled enthusiasm. I love his videos.
This was the best most utilitarian video I saw in my life. It's so great, the oppurtunity cost for it practically doesn't exist.
I have homework due tonight- thank you! Also as a side note-
#1: Supply just sound like a complex version of mature budgeting with a whole bunch of complicated vocab.
#2: You were making me lactose intolerant while watching you drink that... so if I could give you two thumbs up for an awesome lesson and an incredible stomach... i SO would. Thank you again! xD
These videos are entertaining and informative! It even got to the point where my mom started watching them with me on her off time and we just talk economics for a bit.
I never comment on videos but this man is it!!! I never understood my Macro class in school but thanks to his videos I got a 5 on macro and a 4 on micro (which I self-studied for!!). Please buy the Ultimate Review Packet guys, it is 110% worth it.
I absolutely love listening to you. While I'm laughing, I'm learning what a great combination. It all makes sense after listening to you. You're The Best
dude you are awesome. Way better than my professor. Idk why I even go to that class when I have your videos.
For attendance :3
this was... refreshing.. for my test tomorrow. thanks!
Thank you. I have never done Economics before and I was studying it as one of my modules in MSc in Quantity Surveying and I did an exam on it and passed no resit. God sent indeed.
Started studying micro this year, you helped me understand better the subjects my teacher teaches us
these videos are saving me a lot of money
You're so great. It really helps me a lot in my reporting for tomorrow! Thank you so much.
even though its been 6 years since his uploads, he is the thing helping me throuhg my microeconomics class in college right now. My econ professor literally doesn't teach at all, so i am very glad this guy exists and makes it interesting and fun(ish)
I started to become more curious about economics, and stumbled upon this video. This video is only 6:43 minutes Long but so many things were covered (and that I could absorb and understand all of them)! Very straightforward and easy to understand. Thank you so much, Mr Clifford. We can all see how much you love Economics and watching your videos + economics crash course is really making me wonder if I should study econs in university
you are a LIFE SAVER ! Thanks a bunch for ur tutorials. I have a mid-term exam coming up and everything finally makes perfect sense. Keep making more videos please! :)
+Natasha Jay I will Natasha. Please subscribe and tell your friends :)
@@JacobAClifford sure
Fantastic Method Of Teaching ,Sir.............Thanks
Thank you for your sacrifice Mr. Clifford, and the jingle 'Change in demand'. I appreciate it.
Can economics be simplest than that? This guy is amazing. Some people are meant to teach because they have the ability but it is not everyone. thanks for simplifying what most tutors make so complicated.
best way to learn maximum in minimum time, awesome vedio
Damn, I wish all teachers were like you....
+Stefan Peev Thanks.
Even though I got a 2 on my AP macro exam I learned so much thank you for being my AP macro teacher when no one else wanted to. I love you
Just watched both this and his video on shifting supply + demand curves before my second year uni Econ exam. Huge help with concepts at any level
I love you so much, I hope you never stop making videos you amazing man. You are really saving me for my exam tomorrow and you have such a great talent for explaining concepts. I wish I could subscribe twice to your channel, cheers man!
+joseph smith Thanks Joseph. I apprecaite it. Seriously
@@JacobAClifford 😍
@@dagan7613 Wake up, Wake up its 2022
WOW THIS LEACTURER IS SO INTELLIGENT...🔥🔥👍😍
You have mastered the art of teaching. Learning, understanding and being entertained simultaneously...Thank you for your efforts x
I dont have any words to express my inside pounding feelings for your classes and attitude. Neither it is my first time to watch your classes since have started to watch 2021.All i wanted to say when i took this course I literally hate cus could not get any topics into my minds what my professors did. when i started to see your videos it just changed my thoughts and looking towards it. i could only said in one line , fall in love from hate. And i know only someone who truly loves it and do put all hard works , absolutely can spread love overall. And last but not least, i watched your videos , watching now and will continue to watch cus I dont only want to learn but also have some purpose ,only can get from here. So, hope to see you all 2023 and thge rest. Take care Mr.Clifford.
stop drinking milk!
Finicko is right...milk is not good for you!
FAM YOU ARE SAVING MY LIFE WITH UR VIDEOS MAY GOD BLESS YOUR SOUL WITH ETERNAL MILKS
didn't he say he was lactose intolerant :D
My teacher taught me the demand curve shifts to the right when the price sinks. Now when I'm thinking about it makes sense. Thank you!
You are amazing!! I totally understand now, I even purchased the ultimate study guide!! THANK YOU FOR HELPING ME UNDERSTAND ECONOMICS. You have no idea how helpful you are. My class was stumping me b/c they weren't speaking my language but you are. Again thank you!!
when he drinks a gallon of milk
me- *DUDE YOUR MY BEST TEACHER STOP KILLING YOURSELF*
Plsssssss be my economic teacher! tq so much! God bless u
i have become in love with this man ever since he poured cereal in his mouth and chugged milk.
i have my finals tomorrow and this is very helpful. Thank u soo much, ur the best!
maahn you saved my ECO Grade...will send gallons of milk
When school starts for the year, the demand for these videos skyrockets
Fantastic video, somehow concise, comprehensive, and fun all at the same time! Thank you for the work you do
man i watched your supply and demand videos...i learnt more from those videos than i learn in my lectures...its crazy how your teaching helps so much and you spend less time explaining but we as students learn more....thank youuuu
i drank milk after this
Cow milk?
@@taasinbinhossainalvi9173 Who cares vegan
Yo fam, chill out on the milk drinking lmao. But great job at explaining.
+Desiree H yo why you so ghetto but lemme take you out doh cus the law of supply and demand stated that if i ask you out you will refuse (D rises, Q fall) but if i wont try my qty. with you will be 0 which means I will end up with a what if.
jacobmufasa I'm not ghetto but hahaha okay to answer your question yeah sure. You can totally take me out.
Desiree H haha where did mommy and daddy meet. UA-cam comment. (: isn't that original
jacobmufasa too real
Desiree H 1 hunnit. just like positive economics its all data and facts! (:
In vidéos of 4_6mins i understood what was thought in a whole semester .this is amazing
Thank you so much for your videos! I got 5/5 in both AP micro and macro just by watching them. You're a great teacher. Thank you so much!
Our teacher puts your video in class so she doesn’t need to talk LOL
am i the only one thinking about how he managed to finish a gallon of milk?!?!
I've done it with friends before... none of us kept it down. >
Me too
Thank you mister Clifford! I had an conditional enrollment into my MA, meaning that I was lacking ECTS from my BA and I had one shot to pass micro which I didn't understand at all but thanks to your lessons I've passed it and now I can continue my studies :)
this guy knows what hes doing. i was struggling with economics and it makes some sense now that i watch this
EPIC!! I'm subscribing!
+Stephen Morgan Thanks. Check out my summary videos too. If you like this, you will love those.
+ACDCLeadership Okay, I will do that. Thanks again for making econ understandable!
2019 Alright, I'll enroll for Economics school
2020 Alright! Self taught home school economics
I AM A FAN AND STUDENT.
FROM KERALA, INDIA
NO SOPHISTICATION. LOTS OF GENUINITY AND DEDICATION APART FROM THE SKILL OF TEACHING AND KNOWLEDGE OF THE SUBJECT
GOD BLESS
You are giving me hope that I actually might pass this online econ class... THANK YOU.
Very funny and educational!!Thanks.
+Maritess Neely Thanks Maritess
+ACDCLeadership You're welcome!Keep it and more power to you!
i bet someone reduced your milk while we weren't watching
Why can't be there a teacher like you in the colleges explaining concepts without making students bore and confused
Thank you for your videos sir
your dedication is crazy mr.clifford. well done
_"I need more Cheerios"_
*Chugs it down with excessive amounts of milk*
I live for “ Its getting warm” x2
Mr. Clifford, I love your silliness when instructing, I get a lot of information from your instructional video's, keep the enthusiasm for your profession sir, you are contagious.
Thank you so much for helping me make sense of these terms. You are the best!!! Never thought anyone could make economics seem fun!
If price is the factor that determines demand, why isn't on the x axis?
Just curious. With UA-cam's monetization policies, are you making any money based on your viewcount?
+Colton Martinez Godd economics question Colton. Yes, I do earn add revenue from my videos and, in fact, this video brings in the most. That being said, it's not much revenue compared to how long it takes to write, film, and edit a video. Even for popular videos it takes years for them to "pay off" and bring in more revenue than the opportunity cost.
Gotcha. Well, at least you get something additional out of it as well. But with all you do, the revenue seems secondary to your enjoyment of filming.
I could not be at peace without dropping this comment. I am a working students i barely go on time to economic lectures,i don't attend the class! I want to my notes this morning did not really understand but after watch just 4 video of this man OOO my Lord ,,,I WROTE MY EXAMS TODAY LIKE A PRO ....we were given to define demand and supply using graphs ,and ti use formulas to define some terms.THIS MAN VIDEO IN LESS THAN 1HOUR CHANGED MY RESULTS.I AM SI GREATFUL
I have learning difficulties, thankfully this video is my savior to my struggles.
Cheers!