This week on Crash Course Econ, Jacob and Adriene are talking about failure. Specifically, we're talking about market failures. When markets don't provide a good or service efficiently, that's a market failure. When markets fail, often...

“Costs and Benefits” defines and gives examples of costs and benefits, including external costs and benefits.

The video discusses the topic of subsidies and how they can be used as a government intervention in markets. The speaker explains how subsidies can help to rectify market failures, particularly in cases where a product is under-provided...

Mr. Clifford's 60 second explanation of positive externalities (aka: spillover benefits). Notice that there are two different demand curves. One is the marginal private benefit which ignores the spillover benefits of flu shots and the...

The video covers the topic of externalities in economics. It explains how economic agents make decisions in market economies based on maximizing behavior, leading to private costs and benefits. The video defines internal and external...

This video introduces the concept of cost benefit analysis and explains how it can be used to evaluate the social benefits and costs of a specific economic decision. The examples used in the video include the hypothetical scenario of a...

A quick overview of what you will cover in the sixth unit of Microeconomics. Virtually all teachers will cover the same topics, but keep in mind that some teachers might teach a few concepts in a different order.