Indifference Curves
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- Опубліковано 22 лис 2024
- 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
the more i watch your videos the more i realize economics is just simple concepts that are explained with complex graphs and convoluted jargon
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. 😂
And the more your realize that this stuff doesn't reflect reality...at all?
@@gammaraygun6576 yes at the basic level, but the more advanced economic classes you take the more realistic and complex it gets.
@@gammaraygun6576 Well.. most graphs are designed to be simplified versions of reality.
But this is still basic economics.
@@femiairboy94 not as complex as science...
You explained in 8 minutes what i been taught in 2hrs of class.
LOL 😂😂😂🤣
Truly agree
Sameee loll hahahahha
Same here! only my professor took 6 hours to explain it and I still didn't get anything :'D
Psst 1.25x
you explained this better in 8 minutes than my professor could in an hour and 20 minutes... thanks so much!!!
Not to mention the Tuition$$!
hahaha same to my situation. My prof is telling rubbish
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.
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!
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 UA-cam channel that its able to explain it in a way that ensures students are able to grasp it properly.
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
This is better explanation than the explanation of my microeconomic professor who loves to fail his students but can't explain his lesson better
Lol eco profs are same across world
This is the most sense this has ever made! I don’t think it ever clicked back in university like it did now . Thanks
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!!!
I love how it's animated,makes it easier to understand....
The way she talks is so entrancing for some reason, like she's being serious&formal and saucy at the same time
I love listening to her voice. Makes everything interesting. Thank you so much!
why is it always so simple but yet during the tests is never a pizza and coffee hahaha thank you for the class
Trust me I'm understanding right the moment I see the leaf on my take things change 😂
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 🙏🏻😀
I don’t think I could survive my class without this video! Thank you!!!!
Hats off ... learning this for years together I couldn’t understand exactly what those curves are.. your video just did it in 8 min ..
THIS CHANNEL IS PURE GOLD
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
Thanks, Jasmin! Right back at you! -- Joana Girante
Really thank you Mrs.
Reading hundred of books is not as effective as watching the simple teaching and explanation.
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!!
by far the best video on this topic
I understand indifference curves and MRS much better now. Thank you for your work. You explained it really well.
I literally like the way you simplify this topic. Thank you very much. ❤
she :"Economist dosent like things that dont make sense".
me while looking at the micro economic book, "it doesent make sense att all".
😂
haha
What a fancy way to illustrate those abstract concepts!
Wow..... this is absolutely amazing. Thank you very much. The animated illustrations were just perfect
Exceptional teaching, more information in just few minutes, best among all the videos of ICs i watched, thank you mam.
this is so well edited and explained. compliments.
We are not, you and your team nailed it. Beautifully explained. I love your work.
This is extremely clear and helpful.
I like the simplified explanation .I know understand the curves 20:44
Very wonderful and inspiring for all economic students for explined the IC curve
Beautiful explanation
The instructor did a really good job in explaining and the video is also done really well.Thanks a lot ♥️🇧🇩
thank you. my professor should watch your video.
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.
How neat! I'm glad you found it useful. Thank you from the bottom of mine. -- Joana Girante
Brilliant video, well explained short, simple and to the point thanks a lot!
This video is fantastic visually and helps me understand better while doing revision for my University Exam.
Thank you so much for teaching this in easy method.
Loved how they teach the basics.
Thanx mam, You are great in explaining more no. of concepts in a single video in a simple way😊
THANK YOU SO MUCH! I DID NOT KNOW THAT THIS CONCEPT WAS ACTUALLY EASY!
Never leave. This makes more sense than the hundreds I've spent on text books.
WOW!!!!!! How good you explain. RESPECT.
can I say it is mesmerizing to watch this video? learning can be a really fun process
A very informative tutorial. Things were easier to understand.
finally I understood those curves.
Recomended by my friend and Subscribed after watching this video..
You explained very well.
.
You are the best Ma'am. Thank you so much
I appreciate so much for making me understand this, but as well help me understand the difference between income consumption curve and the Engles curve plus the price consumption curve please
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.
😂😂😂
😂😂
Thank you.
Just what I needed to prepare for my test
Omg her voice is so soothing? Very unintentionally ASMR
Amazing video impressed by how u explained it in 8 minutes. Thanks!
I could understand our lesson easily because of this. So keep it on! Thanks!
that's so easier to understand and perfect. Thank you
I give major portion of pie to video editor. Wish I get classes with editor
your videos are extremely helpful thank you so much
Thank you!
-Roman
now I want a pizza and coffee
hell yeah and you re in lockdown T-T
Absolutely clear! Thanks so much!
Thanks, y'all helping me a lot with my class 11th Microeconomics
You have no idea how much I appreciate this🌹🌹
splendid way of presentation, I salute u mam...
I love the examples you used. It made this concept so easy to understand 😍 thanks
What is this sorcery? I sit in class for an hour but still didnt get it and u made me understand it by few minutes.
the power of simplicity
You are an amazing teacher
very clear explanation, thank you!
Thank you for this lecture!
Smartly explained ✨
Very nice video and well explained.
We need more from you miss..ur brilliant
5/5
Amazing video, really needed this concept to be explained
*I am Satisfied*
*Thank you so much* 🙂
A terrific explanation.
This is amazing thank you so much!!
No words except God bless you
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
Thank you soo much maam..very informative and easy to understand
Thank you
This Channel is SO good!
awesome video, you guys are best teachers ..
well explained. keep up ur good work.
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?
Thank you It helped me a lot
Very informative mam. Thank you.
Nice explanation I understand everything
You ma'am.. you and your team... Nailed it... Good work... Keep it up.. i understood a concept from CFA due to this video..
excellent explanation........i understood it better
by the way do you have videos on production and costs?
Wow! One video made me hit the subscription button! Very well explained!
Welcome to our friendly band of econ nerds! Let us know if you have any feedback on where we can improve.
-Roman
Just epic explanation! Hats off!
great explanation, thanks a lot
Great video!
Thanks, great explanation and video edition!
what is this beautiful accent
Prof. Girante is originally from Portugal. I could listen to her talk all day! :) -Meg
she speaks the language of economics
Very effective video appreciate it!
Love you mam.....thanks for explanation..
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!
madam, please tell me, what will be the shape of IC whenever the MRS is zero and infinite?
very nice presentation.10Q!