The video is an educational resource that introduces the concept of productivity and its importance in economics. The presenter explains how productivity is the output per unit of input and how it can vary depending on factors such as...

This video explains the concept of monopoly market structure, its diagrammatic analysis, and the behavior of monopolists. The video covers topics such as the downward-sloping demand curve, the profit-maximizing output, the price, and the...

The video discusses the concept of the backward bending labor supply curve. The video explains the income and substitution effects that influence the supply of labor, and evaluates the impact of the backward bending labor supply curve...

Administration of medical care is a huge driver of costs in the United States' healthcare system. Running hospitals, generating bills, and collecting payment are just a few of the activities that take up health providers' time, and run...

In this video, the topic of the extension of property rights is discussed, and how governments use it to correct market failure. The Coase theorem is explained and an example is given to illustrate this principle. The video also explains...

Political talk is getting more and more serious around Medicare for All in the United States. The argument, as usual comes down to costs. One of the advantages that proponents always bring up are the very low administrative costs of...

This is a practice quiz for Macroeconomics Unit 1. The questions are designed for AP and college introductory economics.

The video discusses the concept of economies of scale in markets and how they can impact the structure of those markets. The video also examines the factors that contribute to managerial diseconomies, such as poor communication and...

Join a conversation with Indra Nooyi, former CEO of PepsiCo, member of the board at Amazon.com and a venerated corporate leader, interviewed by Wall Street Journal Asia Editor Andrew Dowell.

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 provides a detailed explanation of the Statement of Comprehensive Income, which is a key financial account used by businesses to show the cash flow situation of a company. The speaker explains the different tiers of the...

In this video, the speaker explains the ways in which technology has influenced and continues to influence businesses. They cover the evolution of technology over recent decades, including the impact of the internet, PCs, smartphones,...

Richard Weissbourd is currently a senior lecturer in education at HGSE and at the Kennedy School of Government. He is also faculty director of the Human Development and Psychology master's program. His work focuses on vulnerability and...

This video provides an in-depth explanation of shutdown points in economics, specifically focusing on the difference between short and long run decision making processes. The narrator introduces various economic concepts, such as the...

In this video, the teacher explains how to solve a system of linear equations with constraints. They use examples such as determining the weight of a mouse over time and finding the number of different types of questions on a test. The...

Aside from whatever a visit to the doctor costs you in money, it also costs you in time. A lot of it. Can we make that better? That's the topic of this week's Healthcare Triage.

The video discusses the long run average cost curves and their implications for the structure of the market. The video uses an example of a factory to demonstrate this concept and how the long run average cost curve is formed by the...

This is a lecture presentation on the concept of budgeting and why it is important for businesses to budget across different layers of the company. The speaker defines what a budget is, compares it to personal budgeting, and explains how...

Mr. Clifford's 60 second explanation of how to calculate Marginal Revenue Product (MRP) and Marginal Resource Cost (MRC). Remember that you hire workers where MRP = MRC to maximize profit.

This is a practice quiz for Microeconomics Unit 1. The questions are designed for AP and college introductory economics.

Rheumatoid arthritis is an autoimmune disease that primarily attacks the lining of the joints. While we are familiar with NSAIDs for their anti-inflammatory properties, with RA a much more useful class of drugs is DMARDs, or...

Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.

The video discusses the concept of a monopsony, which occurs when there is only one buyer in a market, such as the government in the public sector. The video explains the differences between the outcomes of a monopsony labor market and a...

This video discusses the concept of specialization and division of labor in economic theory. It starts by giving an example of a rudimentary village where individuals have to produce all their own goods and services, and then explains...