Curated Video
Understanding Elasticity in Business: Price and Income Elasticity of Demand
This video provides an overview of the two main forms of elasticity in business: price elasticity of demand (PED) and income elasticity of demand (YED). The speaker explains the concepts of elasticity and responsiveness, and goes on to...
Curated Video
Calculating Price Elasticity of Demand and its Importance for Businesses.
This is a lecture video that explains how to use the formula for price elasticity of demand (PED) to calculate the PED for different goods in order to solve problems. The video starts by explaining the formula for PED and then...
Curated Video
Understanding Price Elasticity of Demand - Characteristics of Demand Curves
This video is a lesson on the price elasticity of demand and the characteristics of demand curves. The instructor explains how to calculate price elasticity of demand and defines the terms elastic and inelastic. The video also covers how...
Curated Video
Introduction to Cross Elasticity of Demand and Classification of Substitute and Complementary Goods
This video introduces the concept of cross elasticity of demand, which is the measure of how changes in the market for one product can have an impact on the market for a different product. The video explains how economists use cross...
Curated Video
Understanding Price Elasticity of Demand
This video discusses the topic of elasticity, specifically the price elasticity of demand within the context of the impact of Brexit on the UK agricultural market. The video explores the concept of elasticity and how it can be used to...
ACDC Leadership
Elasticity of Demand and Supply Coefficients- Micro Topic 2.4 and 2.5
In this video I explain elasticity of demand, elasticity of supply, cross-price elasticity, and income elasticity. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to...
Curated Video
Determinants of Price Elasticity of Demand
This video discusses the determinants of price elasticity of demand, which is a key concept in economics. The video uses two examples and explains the five main factors that affect the price elasticity of demand at an A-level, including...
ACDC Leadership
Elasticity of Demand- Micro Topic 2.3
Why don't gas stations have sales? I explain elasticity of demand and the differnce between inelastic and elastic. I also cover the total revenue test and give you a little trick to remember it. Thanks for watching.
Curated Video
Calculating Price Elasticity of Demand: A Step-by-Step Guide
This video is a tutorial on how to calculate the price elasticity of demand for a good. The speaker explains the process step by step, starting with calculating the changes in quantity demanded and price, then using those numbers to...
Curated Video
Understanding Price Elasticity of Demand for Business Forecasting
In this video lecture, the concept of price elasticity of demand (PED) is explained, which allows businesses to measure the responsiveness of the quantity demanded of a product to a change in price. The lecturer uses a graphical example...
Curated Video
Introduction to Income Elasticity of Demand and Goods Classification
The video introduces the concept of income elasticity of demand and explains how economists analyze the changes in demand for a good based on changes in consumers' real incomes. It further discusses the two types of goods: normal goods...
Curated Video
Calculating Cross Elasticity of Demand: Easy Economics 3-Step Process
This video provides a tutorial on how to calculate the cross elasticity of demand for a pair of products given relevant data. The three-step process involved in the calculation of elasticity is explained clearly, with examples provided...
Curated Video
Calculating Income Elasticity of Demand: Examples and Formulas
This video is a lecture on calculating the elasticity measure represented by the income elasticity of demand. The instructor provides examples and explains how to use the formula for calculating the percentage change in demand and the...
Curated Video
Understanding Income Elasticity and Cross Elasticity of Demand
The video is an educational tutorial on the concepts of income elasticity of demand (YD) and cross elasticity of demand (XED). The presenter explains the calculations for each and how to classify goods based on their YD and XED values....
Curated Video
Calculating Income Elasticity of Demand Values: Easy Economics 3 Step Process
The video explains how to calculate income elasticity of demand values, using a simple 3-step process. It covers the formula for calculating YED and demonstrates how to calculate the proportionate change in quantity demanded and income....
Curated Video
Income Elasticity of Demand: Understanding its Importance in Business Planning
The video explains the concept of income elasticity of demand (YED) and its importance for businesses in forecasting sales and maintaining sustainable revenue. The lecture covers the formula for calculating YED, its possible range of...
Professor Dave Explains
Changes in Supply and Demand
We just learned about supply and demand. But how do these change over time? To answer this we must learn about elasticity. For elasticity of supply we must learn about input costs as well as supply determinants like subsidies and excise...
ACDC Leadership
Micro Unit 2, Question 11- Cross-Price Elasticity of Demand
Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.
Curated Video
Rearranging Elasticity Formulas and the Elasticity Triangle
In this video, the instructor teaches how to rearrange elasticity formulas to make any variable the subject of the formula. The video focuses on price elasticity of demand as an initial example and demonstrates how to substitute and...
Curated Video
Evaluating the Impact of Trade on the Macroeconomy
This video focuses on evaluating the macroeconomic concept of trade. The video explains how changes in the AD and SRAS curves affect the current account, balance of payments, and net exports. The impact of a positive AD curve shift on...
ACDC Leadership
Elasticity Overview and Tips- Micro Topics 2.3, 2.4, and 2.5
Hey econ students! This video is an overview of elasticity. Be sure to learn and practice these concepts before you watch (see links below). I made this video to compare and contrast the four types of elasticity (price elasticity of...
Curated Video
Example Elasticity Problems and How to Solve Them Using Elasticity Triangles
The video is a tutorial on solving elasticity problems using elasticity triangles. It covers examples of price elasticity of demand, cross elasticity of demand, and income elasticity of demand, with step-by-step explanations of how to...
ACDC Leadership
Elasticity Practice- Supply and Demand
Thanks for watching! In this video I explain the total revenue test, elasticity of demand, elasticity of supply, cross-price elasticity, and income elasticity. Make sure to pause the video and try to answer the seven questions on your own.
Curated Video
Understanding Elasticity: The Difference between Elastic and Inelastic Demand
This video lecture explains the concept of elasticity and focuses on the difference between elastic and inelastic demand. The lecture also covers the basic formula for price elasticity of demand (PD) and how to interpret PD values,...