Indifference Curves - Income and Substitution Effects for Normal Goods I A Level and IB Economics

In this revision video we work through how to show the substitution and income effects arising from a fall in the market price of a product, in our example we see why people are likely to buy more fresh oranges when their price goes down. ​
#aqaeconomics #ibeconomics #edexceleconomics #cieeconomics #ocreconomics

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[@isaacottley1121]

Thank you! You're the third person to explain this to me but you're the first who actually makes sense of it :) appreciate your help!

[@tutor2u-official]

Thanks Isaac - good luck with your studies!

[@hobispreciouseusmile]

I'm so glad i found this video ...this topic had been bugging me for weeks! When my teacher first introduced it...i couldn't get it....
Tom i have my 90mrks eco exam and this video just made everything so crystal clear..thank you immensely sir!!
Love from India

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[@TheFireball2005]

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[@user-bv1so9kj2o]

Thank you so much for helping me at the last minute. i have an examination coming up and i was really very confused with this concept.

[@tutor2u-official]

Glad it helped!

[@MaryChihana-bv8rh]

Nyc the video has increased my understanding from the topic

[@natalieseneviratne7393]

Thanks so much! I didn't understand this at all and your vids really helped with my college assignments!

[@tutor2u-official]

You're very welcome!

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*how to like a video a million times😭. Thank youuuu

[@tutor2u-official]

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[@alvinkitu4561]

Thanks

[@umealajekwuchinemelum5038]

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[@MrSkatefuture911]

This was incredibly well explained! thank you for that!

[@adityamisra8869]

u helped in my economics degree.

[@tutor2u-official]

Thanks!

[@ifeojo9948]

thank you. This helped me understand a topic that I've never been able to grasp

[@TickleMyFunnyBone247]

Best explanation out there! Thank you so much!

[@dr.swapnilsoni]

CLEARLY explained!
Question: Perfectly complementary goods are also Perfectly not Substitutable goods? I am referring to L-shaped indifferent curve here. Pl clarify!!

[@nombusodlamini7298]

Helped a lot. Thank you.

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[@carlyapp6092]

thank you!!!!! this really helped and made sense.

[@tutor2u-official]

Thanks Carl, good luck with your studies!

[@stefanospapalysandrou238]

Salute to this man! Great Explanation! :)

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[@KanadaCraft]

Awesome explanation, thank you

[@tanyaarora1445]

great explanation, thanks!

[@tutor2u-official]

You're welcome!

[@mangaraju1157]

Thank you sir well explained.

[@GlambyPragya]

Indifference curve for normal good will be convex ?

[@valiytora6094]

Thanks a lot, sir! Very helpful!

[@tutor2u-official]

Pleasure - glad you found it useful

[@rdv9710]

Thank you! How do we know which effect is greater?

[@tutor2u-official]

Good question! Much depends on the type of product and also how strong is consumer loyalty!

[@harishahari1495]

Very nice video thank you so much

[@kayj2722]

Thank you!

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[@kh946]

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[@ForeverAndAlways654]

muchas gracias muy útil

[@user-yg7yc4hw5y]

If income rises then surely the demand for bananas also increase, assuming bananas are normal goods. If both are normal goods then should we expect to see a rise in quantity for both goods?

[@livewireredb.9953]

Is the movement from A to B considered the law of diminishing marginal utility seeing as bananas were given up for more oranges?

[@tutor2u-official]

Indeed!

[@livewireredb.9953]

@tutor2u-official thank you. Very interesting.

[@arinbutkow9021]

Derek Rae

[@minaamkhan8688]

Thanks alot

[@tutor2u-official]

Most welcome

[@Erisa206]

Thank you.

[@romilpandey3855]

thanks man

[@rodgerskakoma8984]

Thank you

[@kigunduronald8984]

Can u please explain when there is increase in prices of oranges

[@zharxscool429]

it's a pivot and not a shift no? 1:42

[@tutor2u-official]

A pivotal shift maybe?

[@gooddaysir2420]

the velative pvice

[@fawadahmad1119]

gg man