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What is Gross Domestic Product (GDP)?
 
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Picture the economy as a giant supermarket, with billions of goods and services inside. At the checkout line, you watch as the cashier rings up the price for each finished good or service sold. What have you just observed? The cashier is computing a very important number: gross domestic product, or GDP. GDP is the market value of all finished goods and services, produced within a country in a year. But, what does "market value" mean? And what defines a "finished good"? These, and more questions, percolate inside your head. Meanwhile, the cashier starts ringing up the total, and you’re left confused. An array of things pass by you — A bottle of wine. A carton of eggs. A cake from the local bakers. A tractor, of all things. A bunch of ballpens. A bag of flour. In this video, join us as we show you how to make sense of this important economic indicator. You’ll learn how GDP is computed, and you’ll get answers to some pretty interesting questions along the way. Questions like, “Why are the eggs in my homemade omelet part of the GDP, but the eggs my baker uses are not? Why does my bottle of French wine contribute to France’s GDP, even if I bought it in the United States?” Most importantly, you’ll also learn why polar bears aren’t part of the GDP computation, even if they’re incredibly cute. So, buckle in for a bit—in the following videos we’ll dive into specifics on GDP. Macroeconomics Course: http://bit.ly/1R1PL5x Ask a question about the video: http://bit.ly/1p4ZtxL Next video: http://bit.ly/1mY2bn0 Help us caption & translate this video! http://amara.org/v/HZv3/
The Circular Flow Model of a Market Economy
 
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By this point in your course you may have learned the definition of a market: A place where buyers and sellers meet to engage in mutually beneficial exchanges. But what is a market economy? Two basic types of markets exist in any market economy: resource markets and product markets. The exchanges that take place in these markets benefit both the households and the firms that engage in exchanges. This lesson will introduce the circular flow of money, resources and goods and services in a market economy. We will examine how resources flow from households to firms, and goods and services from firms to households. We will also seek to explain why individuals are willing to engage in the exchanges that characterize the market system. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 309660 Jason Welker
Diminishing Marginal Returns- Micro 3.1
 
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I explain the idea of fixed resources and the law of diminishing marginal returns. I also discuss how to calculate marginal product and identify the three stages of returs: increasing, decreasing, and negative returns. For more econ stuff, visit my website www.ACDCEcon.com Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji High school version of this video- https://www.youtube.com/watch?v=_TQ62MwzSrY Next Video- Economies of Scale https://www.youtube.com/watch?v=JdCgu1sOPDo Econmovies- https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Twitter (#askclifford) https://twitter.com/acdcleadership?lang=en By the way, I had some songs from West Side Story in my head while I was filming.
Views: 470379 Jacob Clifford
Perfect Competition in the Short Run- Microeconomics 3.8
 
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In this video I explain how to draw and analyze a perfectly competitive market and firm...and you get to meet Mr. DARP. Makes sure that you can use the graph calculate total revenue, total cost, and profit. Thanks for watching. Please subscribe. If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 940738 Jacob Clifford
[Hindi] Difference between GDP, NDP, GNP, and NNP
 
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To watch all lessons click here:- https://goo.gl/hSv8yn | Download the Unacademy Learning App from the Google Play Store here:- https://goo.gl/02OhYI | Discuss the course with fellow aspirants here:- https://goo.gl/WJrQpI This course only covers those topics which have a very high cost to benefit ratio i.e. probability of a question appearing in the exam from this particular section is astronomically high. Do watch all these lessons and gain a cutting edge over your competitors. This will help you to score more marks. It's a must go course before go for the prelims examination. For more lessons on UPSC CSE Preparation, please visit:- https://unacademy.in/upsc-preparation/all/
Views: 265707 Unacademy
Production Possibilities Curve- Econ 1.1
 
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In this video I explain how the production possibilities curve (PPC) shows scarcity, trade-offs, opportunity cost, and efficiency. This is the first graph you are going to learn in your economics class. Thanks for watching. Please subscribe. If you need more help, check out the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji
Views: 941170 Jacob Clifford
Economic Profit and Costs- ACDC Econ - Micro 3.6
 
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Mr. Clifford explains the difference between explicit costs and implicit costs and the idea of economic profit. By the way, it's a joke. Economists and accountants don't really hate each other. It is a running gag between disciplines. I personally love my accountant :)
Views: 255140 Jacob Clifford
Goods and Services | For 1st and 2nd Grade Economics Social Studies Lesson
 
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https://www.patreon.com/homeschoolpop In this economics social studies lesson for 1st and 2nd grade students you will learn what goods and services are and what the difference is between the two! Thanks for watching, be sure to comment and like this video, and subscribe for more videos and learning! http://homeschoolpop.com Goods and Services | For 1st and 2nd Grade Economics Social Studies Lesson 1st and 2nd grade economics social studies
Views: 114982 Homeschool Pop
Costs of Production- Microeconomics 3.3 (Part 1)
 
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In this video I explain the costs of production including fixed costs, variable costs, total cost, and marginal cost. Make sure that you know how to calculate the per unit costs: AVC, AFC, and ATC. Let me know what you think and please subscribe. Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Next video-drawing the cost curves https://www.youtube.com/watch?v=qYKJdooEnwU Watch Episodes of Econmovies- https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH More videos about the costs of production- https://www.youtube.com/playlist?list=PLE70CA726102FB294
Views: 798437 Jacob Clifford
What is ECONOMIC SYSTEM? What does ECONOMIC SYSTEM mean? ECONOMIC SYSTEM definition & explanation
 
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What is ECONOMIC SYSTEM? What does ECONOMIC SYSTEM mean? ECONOMIC SYSTEM meaning - ECONOMIC SYSTEM pronunciation - ECONOMIC SYSTEM definition - ECONOMIC SYSTEM explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. An economic system is a system of production, resource allocation, exchange, and distribution of goods and services in a society or a given geographic area. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. As such, an economic system is a type of social system. The mode of production is a related concept. All economic systems have 3 basic questions to ask: what to produce, How to produce and in what quantities, and who receives the output of production. The study of economic systems includes how these various agencies and institutions are linked to one another, how information flows between them, and the social relations within the system (including property rights and the structure of management). The analysis of economic systems traditionally focused on the dichotomies and comparisons between market economies and planned economies, and on the distinctions between capitalism and socialism. Subsequently the categorization of economic systems expanded to include other topics and models that do not conform to the traditional dichotomy. Today the dominant form of economic organization at the world level is based on market-oriented mixed economies. Economic systems is the category in the Journal of Economic Literature classification codes that includes the study of such systems. One field that cuts across them is comparative economic systems. Subcategories of different systems there include: planning, coordination, and reform, productive enterprises; factor and product markets; prices; population, public economics; financial economics, national income, product, and expenditure; money; inflation, international trade, finance, investment, and aid, consumer economics; welfare and poverty, performance and prospects, natural resources; energy; environment; regional studies, political economy; legal institutions; property rights.
Views: 7066 The Audiopedia
What is GDP ? - Basic Concept (Urdu)
 
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GDP is a very handy method of identifying a country's growth and economic condition. This term is widely used on TV, Social media, radio, NEWS papers and especially used by our politicians. However, a huge number of people still do not understand GDP. In this video I have tried to explain this concept in a basic and simplified manner. Link for Appendix video: https://youtu.be/gboZFvM2HYI I have taken references from the following sources: -https://en.wikipedia.org/wiki/Gross_domestic_product -https://en.wikipedia.org/wiki/Simon_Kuznets -https://www.thesolutionsjournal.com/article/a-short-history-of-gdp-moving-towards-better-measures-of-human-well-being/ -https://www.youtube.com/watch?v=rGqhTQyY6g4 Background Music: Cool Ride by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Artist: http://audionautix.com/
Views: 43312 Random Guy
Monopolies and Anti-Competitive Markets: Crash Course Economics #25
 
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What is a monopoly? It turns out, it's more than just a board game. It's a terrible, terrible economic practice in which giant corporations dominate markets and hurt consumers. Except when it isn't. In some industries, monopolies are the most efficient way to do business. Utilities like electricity, water, and broadband internet access are probably less efficiently delivered in competitive markets. Come along, and let us monopolize your attention for a few minutes. You might learn something. And you might land on Free Parking. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 443742 CrashCourse
Economic Development - An Overview
 
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In this module, the learner will be introduced to the factors of Economic Development which can be further classified as economic and non-economic. This is a product of Mexus Education Pvt. Ltd., an education innovations company based in Mumbai, India. http://www.mexuseducation.com, http://www.ikenstore.in
Views: 35853 Iken Edu
Revenue, Profits, and Price: Crash Course Economics #24
 
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How do companies make money? What are profits? Revenues? How are prices set? This week, Jacob and Adriene are talking business. Whether you're selling cars, pizza, or glow sticks, this video has pretty much all the information you need to run a business. Well, not really, but there's a lot of good stuff in here. *** Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 386174 CrashCourse
Macro Unit 2.1- GDP and Economic Growth
 
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In this short video I explain GDP, the components of GDP, and what is not included in the Gross Domestic Product. Thanks for watching, please subscribe If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji
Views: 366957 Jacob Clifford
Game Theory and Oligopoly: Crash Course Economics #26
 
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Would you like to play a game, Dr. Falken? Actually, this episode isn't really about games, or Matthew Broderick, or Thermonuclear War. But enough with the long references to 1983's best movie, War Games. Today Jacob and Adriene are going to teach you about Oligopolies, which are kind of like the monopolies that we talked about last week, except with more companies involved. Then we'll get to the games, or rather, the game theory. Which is all about how companies try to compete with each other in the real world. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 650727 CrashCourse
Demand and Supply Explained- Econ 2.1
 
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Thanks for watching. In this video I explain the law of demand, the substitution effect, the income effect, the law of diminishing marginal utility, and the shifters of demand. Make sure that you understand the difference between a change in quantity demanded and a change in demand. This is the first video in the unit Playlist. Make sure that you watch the the next two videos about supply and equilibrium so you can put it all together. I hope that you like this video. Please like, leave a comment, and subscribe. *Note* never drink a whole gallon of milk Get the Ultimate Review Packet- http://www.acdcecon.com/#!review-packet/czji Supply Video https://www.youtube.com/watch?v=ewPNugIqCUM Video Explaining Shifting the Curves https://www.youtube.com/watch?v=V0tIOqU7m-c Unit playlists https://www.youtube.com/watch?v=HQkVO2PsxFw Learn it by watching Indiana Jones https://www.youtube.com/watch?v=RP0j3Lnlazs
Views: 1523325 Jacob Clifford
What is the meaning of economic products
 
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What is the meaning of economic products - Find out more explanation for : 'What is the meaning of economic products' only from this channel. Information Source: google
Views: 0 moibrad1b
Total and Marginal Utility
 
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Utility in Economics is another word for "happiness". Most people would argue that more is always better. This lesson introduces and analyzes the relationship between the level of consumption of a particular good and the consumer's total and marginal utility derived from the good's consumption. We introduce the "law of diminishing marginal utility", which itself helps explain the Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 47567 Jason Welker
अर्थशात्र - GDP, NDP, GNP, NNP || Indian economy in marathi ||Economic concepts in marathi
 
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या विडीयो मध्ये अर्थशात्रीय संकल्पना घेण्यात आलेल्या आहेत . Download App https://play.google.com/store/apps/details?id=com.bpkadam123.Exam_Guide_app ::::::::::::::::::::::::::::::: FACEBOOK PAGE ::::::::::::::::::::::::::::::::::::::::::::::::::: https://www.facebook.com/examguide247 :::::::::::::::::::::::::::::: :::::: Telegram Channel ::::::::::::::::::::::::::::::::::::::::::::: https://telegram.me/examguide https://telegram.me/examguide247 https://t.me/Chalu_Ghadamodi :::::::::::::::::::::::::::::::::::::::: Youtube channel ::::::::::::::::::::::::::::::::::::::::::: ::: 3 ) Youtube :: https://www.youtube.com/examguide Youtube :: https://www.youtube.com/examguide247 We are Provide following Lecture. 1) Psi All syllabus and video lecture and PSI exam study materials also we are provide free of cost Previous paper solution i.e 2) PSI Exam paper solution 3) STI exam paper solution 4) rajyaseva exam paper solution 5) talathi bharati paper solution 6) police bharati papeer solution 7) STI All syllabus and video lecture 8) MPSC syllabus and video lecture 9) lipik paper solution 10) saral seva bharati 11 ) english lecture video 12) marathi lecture video 13 ) history lecture video 14 geography lecture videos 15) mpsc math video lecture 16) mpsc csat video lecture 17) mpsc math 18) ankaganit ,budhimatta 19) mpsc lecture in marathi 20) math by balaji,digambar ,anand ,examguide all study material thats need to mpsc ,upsc ,talathi bharati ,police bharati,psi and sti assistant paper solution . THANK YOU !
Views: 13366 Exam Guide
Supply and Demand: Crash Course Economics #4
 
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In which Adriene Hill and Jacob Clifford teach you about one of the fundamental economic ideas, supply and demand. What is supply and demand? Well, you’ll have to watch the video to really understand it, but it’s kind of important for everything economically. Supply and demand sets prices, and indicates to manufacturers how much to produce. Also, it has a lot to do with strawberries. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Jan Schmid, Simun Niclasen, Robert Kunz, Daniel Baulig, Jason A Saslow, Eric Kitchen, Christian, Beatrice Jin, Anna-Ester Volozh, Eric Knight, Elliot Beter, Jeffrey Thompson, Ian Dundore, Stephen Lawless, Today I Found Out, James Craver, Jessica Wode, Sandra Aft, Jacob Ash, SR Foxley, Christy Huddleston, Steve Marshall, Chris Peters Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 1506299 CrashCourse
Circular Flow of Income. How the different components of an economy interact.
 
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Transcript: 1 In macroeconomics, we study the economy of one country. 2 Then try to understand how 2 countries interact and trade. 3 And hopefully, understand the global economy. 4 So today, we are going to study the circular flow of income. 5 Let’s make things really simple. 5 Imagine we are alone on an isolated island. There’s no government, no trade, no savings. I told you, it's simple! 6 There’s only firms and households. (2-sector economy: firms + households (closed economy)) 7 Firms provide households with goods and services. 7 Out of thin air? 7 Nah.. 8 Firms gotta get factors of production from households. 8 It can be labor, land, capital or… 8 Face it. Some of us in households are going to be entrepreneurs. (For more information on factors of production: check out this video) 8 So…entrepreneurship. 9 For free? You wish! 9 We don’t get freebies from firms. 9 We don’t provide labor for free either. 10 So there’s money flowing in the opposite direction. 11 Households gotta pay firms for the goods they get. 12 Firms also gotta pay households in the form of wages, rents, interests or profits. 12 But this is a little weird. 12 We don’t spend everything we earn in real life. 13 So let’s add savings. 13 Savings is money we don’t spend. 13 So there’s money flowing out. 14 Hey, savings don’t just sit in banks… 14 Banks invest in firms by lending to them. 14 Cos firms need money to buy capital equipment or cover other costs of production. 14 So there's investments flowing into the economy. 14 Bravo! Awesome! 14 But this is a little too simplified. 15 Let’s add government. (3 sector economy: firms + households + government) 15 Government buys stuff as well. 15 So there’s money flowing in. 16 Government gets money from taxes. 16 Taxes. So there’s money flowing out. 16 Cos for the money we’re paying as taxes, we cannoyt spend it. 17 Lastly, countries interact with one another. 17 Imagine this is an American economy. 18 Let’s add trade. (4 sector economy: firms + households + government + foreign sector) 18 America imports stuff. 18 For example, America can import shoes from China. 18 Shoes flow from China into America. 19 And money spent on imports flows out of America into China. 19 America exports too. 19 America can produce software 19 and export it to foreigners, 20 Money then flows from foreign countries into America. 20 This is America's export earnings. 21 Investments, Government Spending and Export earnings are called Injections. 21 Cos money is flowing in. 22 Savings, taxes and import spending are called leakages or withdrawals. 22 Cos money leaks out of the system. And hey, injections and leakages are sort of related. Investments come from savings. Government spending comes from taxes. America makes money from foreigners by exporting. But foreigners also make money from America when America imports. Wow…no wonder it's Circular Flow of Income It tells us roughly how an economy functions. 23 How do we measure the size of an economy then? 24 By measuring Gross Domestic Product or GDP. 24 GDP is the total value of all final goods and services produced within the borders of a country during a given period. 25 Why must it be FINAL goods and services? (Hint: it's in the next video) 26 If you like this video, remember to like and subscribe. 27 Next up: Measuring GDP: Output Approach _______________________________________________ How does an economy function? Look at the Circular Flow of Income. Who are the major players in an economy? In order of increasing complexity, there are: 2-sector economy: households + firms 3-sector economy: households + firms + government 4-sector economy: households + firms + government + foreign sector There are real goods and services flowing in one direction in the circular flow of income and money flowing in the opposite direction. When money flowing to the country, it's called injections. When money flows out, it's called withdrawals or leakages. Injections consist of government spending, investments and exports. Leakages or withdrawals include imports, taxes and savings. Injections and leakages/withdrawals are related to each other. This is because government spending comes from tax revenues and investments, at least the local component, come from savings. That said, investments can flow from foreign countries in the form of foreign direct investments (FDI). Lastly, while money can flow from foreign countries when we export overseas, money also leaks out of the country because we import. Important definitions: Gross Domestic Product or GDP is the total value of all final goods and services produced within the borders of a country during a given period. Use flashcards to remember these definitions in economics: http://www.memrise.com/course/461808/economics-101/
Views: 113522 Economics Mafia
Macroeconomics: Crash Course Economics #5
 
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This week, Adriene and Jacob teach you about macroeconomics. This is the stuff of big picture economics, and the major movers in the economy. Like taxes and monetary policy and inflation and policy. We need this stuff, because if you don't have a big picture of the economy, crashes and panics are more likely. Of course, economics is extremely complex and unpredictable. Today we'll talk about GDP as a measure of a country's economic health, the basics of economic analysis, and even a little about full employment, unemployment Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Jan Schmid, Simun Niclasen, Robert Kunz, Daniel Baulig, Jason A Saslow, Eric Kitchen, Christian, Beatrice Jin, Anna-Ester Volozh, Eric Knight, Elliot Beter, Jeffrey Thompson, Ian Dundore, Stephen Lawless, Today I Found Out, James Craver, Jessica Wode, Sandra Aft, Jacob Ash, SR Foxley, Christy Huddleston, Steve Marshall, Chris Peters -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 1142259 CrashCourse
Productivity and Growth: Crash Course Economics #6
 
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Why are some countries rich? Why are some countries poor? In the end it comes down to Productivity. This week on Crash Course Econ, Adriene and Jacob investigate just why some economies are more productive than others, and what happens when an economy is mor productive. We'll look at how things like per capita GDP translate to the lifestyle of normal people. And, there's a mystery. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Jan Schmid, Simun Niclasen, Robert Kunz, Daniel Baulig, Jason A Saslow, Eric Kitchen, Christian, Beatrice Jin, Anna-Ester Volozh, Eric Knight, Elliot Beter, Jeffrey Thompson, Ian Dundore, Stephen Lawless, Today I Found Out, James Craver, Jessica Wode, Sandra Aft, Jacob Ash, SR Foxley, Christy Huddleston, Steve Marshall, Chris Peters Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 814921 CrashCourse
Production Function Part-1
 
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theory of production
Views: 167459 Yasser Khan
Economic Growth explained (explainity® explainer video)
 
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The economy is expected to grow steadily. Politics, industry and trade wish for economic growth. But how can economic growth be measured and might the economy eventually fully grown sometime? Our third clip in cooperation with Deutsche Welle explains "Economic Growth". Script download: www.explainity.com/education-project/transskripte/ ------- This explainer video was produced by explainity GmbH Homepage: www.explainity.com E-Mail: [email protected] This explanatory film was produced and published for private, non-commercial use and may be used free of charge in this context for private purposes without consultation or written authorization. Please note, however, that neither the content nor the graphics of this explanatory film may be altered in any way. Please always give explainity as the source when using the film, and if you publish it on the internet, provide a reference to www.explainity.com. For commercial use or use for training purposes, such as projection of the film at training events (e.g. projection of the film as a teaching aid in school or in adult education), a licence is required. Further information on this subject will be found here: https://www.explainity.com/education-project If you are interested in an own explainity explainer video, visit our website www.explainity.com and contact us. We are looking forward to your inquiry.
Views: 104797 explainitychannel
Elasticity and the Total Revenue Test- Micro 2.9
 
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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. Please subscribe. Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 1078294 Jacob Clifford
(1/3) The Production Possibilities Frontier – Economic Lowdown, Ep. 8
 
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This segment uses the fictional economy of Econ Isle to discuss how limited resources result in a scarcity problem for the economy. Econ Isle’s production possibilities are graphed to show its frontier, and then used to discuss the opportunity costs of its production and consumption decisions. Instructors, learn more at https://www.stlouisfed.org/education/economic-lowdown-video-series/episode-8-production-possibilities-frontier/scarcity-opportunity-cost
Labor Markets and Minimum Wage: Crash Course Economics #28
 
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How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all factor in. In a lot of ways, labor markets work on supply and demand, just like many of the markets we talk about in Crash Course Econ. But, again, there aren't a lot of pure, true markets in the world. There are all kinds of oddities and regulations that change the way labor markets work. One common (and kind of controversial one) is the minimum wage. The minimum wage has potential upsides and downsides, and we'll take a look at the various arguments for an against it. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 465429 CrashCourse
Specialization and Trade: Crash Course Economics #2
 
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In which Adriene Hill and Jacob Clifford teach you about specialization and trade, and how countries decide whether they're going to make stuff or trade for stuff. You'll learn about things like comparative advantage, the production possibilities frontier and how to make pizza! Crash Course is now on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark Brouwer, Jan Schmid, Anna-Ester Volozh, Robert Kunz, Jason A Saslow, Christian Ludvigsen, Chris Peters, Brad Wardell, Beatrice Jin, Roger C. Rocha, Eric Knight, Jessica Simmons, Jeffrey Thompson, Elliot Beter, Today I Found Out, James Craver, Ian Dundore, Jessica Wode, SR Foxley, Sandra Aft, Jacob Ash, Steve Marshall TO: Sarah M. FROM: Anthony M. "Making our own history awesome! Happy 3 year Anniversary!" TO: Everyone FROM: Someone "The earth is but one country, and mankind its citizens." Thank you so much to all of our awesome supporters for their contributions to help make Crash Course possible and freely available for everyone forever: Nathanial R. Castronovo, Eefje Savelkoul, Nupur Maheshwari, Jacob J., Dominik Steenken, Shai Belfer, Stefan Bjerring Henriksen James Kribs, Hugo Jobly, Tim Eramo Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 1424691 CrashCourse
What Is An Economic Trade Off?
 
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Scarcity, trade off, opportunity cost slidesharedefine off at dictionary. Trade off a glossary of political economy terms dr. Your scarce resources force you to make a choice and trade off producing one product or another. Trade offs in economics definition & examples video lesson trade off wikipedia. 21 may 2013 a trade off curve is a graph that explains what happens to the performance of something when you change something else. For example, the examples of opportunity cost in business & economic environment a trade off arises where having more one thing potentially results less fundamental concept economics is that scarcity. This is what you could be doing with your time instead (say, watching a movie) the short run trade off between cycle fluctuations in economic activity, such as. Definition of 'risk return trade off' the economic times. What is tradeoff? Definition and meaning businessdictionary economic trade offs off vsdifference between opportunity cost (with concept in economics youtube. A market economy is an economic system definition higher risk associated with greater probability of return and lower a smaller. This trade off which an 23 may 2016 the false between economic growth and environmental given what we have learned about volkswagen's attitude toward one of tools can use to analyze tradeoff output does a point inside production possibility frontier represent? . Trade offs in economics definition & examples video lesson 27 may 2015 we also must think about what type of satisfaction that purchase will economics, the term trade off is often expressed as an opportunity cost a (or tradeoff) situation involves losing one quality, aspect or amount commonly terms potential choice, which loss 'demographic compensation among populations it, how does it arise and are its implications? . 10 principles of economics wikiversity. Trade offs create opportunity costs, one of the most important concepts in economics. What is 'equity efficiency tradeoff' 10 feb 2009 in the economic cycle there are often trade offs between different this an example of a off growth isolating what that forgone alternative is, and opportunity cost involves dictionary library economics liberty 1 dec 2016 article compiles all differences these two terms while denotes option we give up, to obtain 2625 sep 2011 br when one thing given up order get choice, you definition, exchange for another more or less equal value, especially effect compromisewhen choices made (collectively by individual) accept having something else, results societies face tradeoff consumer principle #2 it. The false trade off between economic growth and environmental the tradeoff output protection curves made by many. Whenever you make a trade off, the thing that do not choose is your when reviewing multiple opportunities with limited resources, companies frequently compare tradeoffs of each and then select will an economic situation in which there perceived tradeoff between equity efficiency giv
Views: 418 Question Me
What are Derivatives ?
 
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An introduction to Derivatives.
Views: 955164 graphitishow
What is ECONOMIC GROWTH? What does ECONOMIC GROWTH mean? ECONOMIC GROWTH meaning & explanation
 
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What is ECONOMIC GROWTH? What does ECONOMIC GROWTH mean? ECONOMIC GROWTH meaning - ECONOMIC GROWTH definition - ECONOMIC GROWTH explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP, usually in per capita terms. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. Implicitly, this growth rate is the trend in the average level of GDP over the period, which implicitly ignores the fluctuations in the GDP around this trend. An increase in economic growth caused by more efficient use of inputs (such as labor productivity, physical capital, energy or materials) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use (increased population, new territory) is called extensive growth. The economic growth rate is calculated from data on GDP estimated by countries´statistical agencies. The rate of growth of GDP/capita is calculated from data on GDP and population for the initial and final periods included in the analysis. In national income accounting, per capita output can be calculated using the following factors: output per unit of labor input (labor productivity), hours worked (intensity), the percentage of the working age population actually working (participation rate) and the proportion of the working-age population to the total population (demography). "The rate of change of GDP/population is the sum of the rates of change of these four variables plus their cross products."
Views: 3333 The Audiopedia
Nominal vs. Real GDP
 
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"Are you better off today than you were 4 years ago? What about 40 years ago?" These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not? To those questions, there’s one figure that can shed at least a partial light: real GDP. In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population. A lack of these controls produces a kind of mirage. For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion. That’s 55 times bigger than in 1950! But wait. Prices have also increased since 1950. A loaf of bread, which used to cost a dime, now costs a couple dollars. Think back to how GDP is computed. Do you see how price increases impact GDP? When prices go up, nominal GDP might go up, even if there hasn’t been any real growth in the production of goods and services. Not to mention, the US population has also increased since 1950. As we said before: without proper controls in place, even if you know how to compute for nominal GDP, all you get is a mirage. So, how do you calculate real GDP? That’s what you’ll learn today. In this video, we’ll walk you through the factors that go into the computation of real GDP. We’ll show you how to distinguish between nominal GDP, which can balloon via rising prices, and real GDP—a figure built on the production of either more goods and services, or more valuable kinds of them. This way, you’ll learn to distinguish between inflation-driven GDP, and improvement-driven GDP. Oh, and we’ll also show you a handy little tool named FRED — the Federal Reserve Economic Data website. FRED will help you study how real GDP has changed over the years. It’ll show you what it looks like during healthy times, and during recessions. FRED will help you answer the question, “If prices hadn’t changed, how much would GDP truly have increased?” FRED will also show you how to account for population, by helping you compute a key figure: real GDP per capita. Once you learn all this, not only will you see past the the nominal GDP-mirage, but you’ll also get an idea of how to answer our central question: "Are we better off than we were all those years ago?" Macroeconomics Course: http://bit.ly/1R1PL5x Ask a question about the video: http://bit.ly/24pzD7X Next video: http://bit.ly/1TGgR8r Help us caption & translate this video! http://amara.org/v/H0PX/
B.3 Economic region of production | Production - Microeconomics
 
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Learn more: http://www.policonomics.com/economic-region-of-production/ This video explains how to determine the economic region of production, using isoquants and isoclines. It also analyses marginal productivity of inputs, and how this may change the productionprocess. Related videos: -Production function: https://www.youtube.com/watch?v=A5E1sOYh6No&list=PLr3ti8G3MCupcsVLkr7ayC_ziNbi9l4De&index=2 -Isoquants: https://www.youtube.com/watch?v=xKUP1GEuUCc&list=PLr3ti8G3MCupcsVLkr7ayC_ziNbi9l4De&index=3 Related articles: -Isoquants: http://www.policonomics.com/isoquants/ -Marginal rate of technical substitution: http://www.policonomics.com/marginal-rate-of-technical-substitution/ Thank you for watching! http://www.policonomics.com Learn, and enjoy!
Views: 14380 Policonomics
Market Economic Systems
 
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-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 792 Dasuni Kolambage
Defining GDP - Measuring GDP and Economic Growth (1/3) | Principles of Macroeconomics
 
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In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure. Some subtopics covered in this series: - the definition of GDP - the circular flow of expenditure - differentiating net and gross - the expenditure approach to calculating GDP - the income approach to calculating GDP - differentiating between nominal and real GDP - calculating real GDP using the base-year method and the chained-dollar method - evaluating real GDP
Views: 9349 Inspirare
Episode 16:  Elasticity of Demand
 
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We know that consumers will react to price changes, but how MUCH will they react? Knowing this is important to business owners and policymakers. "Episode 16: Elasticity of Demand" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Views: 634510 mjmfoodie
Imports, Exports, and Exchange Rates: Crash Course Economics #15
 
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What is a trade deficit? Well, it all has to do with imports and exports and, well, trade. This week Jacob and Adriene walk you through the basics of imports, exports, and exchange. So, you remember the specialization and trade thing, right? So, that leads to imports and exports. Economically, in the aggregate, this is usually a good thing. Globalization and free trade do tend to increase overall wealth. But not everybody wins. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 876516 CrashCourse
What Is The Rate Of Economic Growth
 
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Definition: Real Economic Growth Rate is the rate at which a nations Gross Domestic product (GDP) changes/grows from one year to another. GDP is the market value of all the goods and services produced in a country in a particular time period. The quantities most commonly used to measure annual rate at which a country's or an industry's income increases. United states gdp growth rate trading economics. Economy rebounded sharply in the spring, growing at fastest pace more than two years amid brisk sep 28, 2017 u. 1% rate in q2 usa todayeconomic growth upgraded to 3% rate in q2 2017 usa today. Data world bank data group. Gdp growth (annual %). How to calculate aug 30, 2017 the economy picked up from a 1. Percent rate in 2nd quarter npr. What is economic growth rate? Definition and meaning wikipediaeconomic upgraded to 3 percent rate in q2 revised up. Googleusercontent search. The annual rate of growth the economy, normally measured by change in gross national product (gnp) or jul 28, 2017 u. Economic growth our world in data. Economy rebounded this spring after a weak winter, expanding at solid 2. Economy grew at an annual rate of 2. Economic growth rate' the economic timesreal rate investopedia. Economy grew at an upgraded annual rate of 3. Percent between april and june. When this rate is adjusted for the effects of inflation, it termed real economic growth. It compares real gdp from one quarter to the next. Economic growth rate' the economic times rate investopedia terms e economicgrowthrate. In practice, it is a measure of the rate change that nation's gross domestic product (gdp) goes through from one year to another, but national (gnp) can also be used if economy depends heavily on foreign earnings real economic growth measures growth, in relation (gdp), period adjusted for inflation other words, expressed as opposed nominal terms definition at which changes grows another. Definition of 'real economic growth rate' the timeseconomy at a glance bureau analysis. Economic growth rate definition from financial times lexicon. Two consecutive quarters of falling growth rates mean a recession, and similar period rising rate indicates an economic is the increase in inflation adjusted market value goods 'rate growth' refers to geometric annual gdp between first last year over time. What is the gdp growth rate? (explanation & formula) balanceeconomic hits 3% rate in second quarter marketwatch. 22 percent from 1947 until 2017 gdp growth (annual. Percent in the third quarter of 2017 were leading contributors to increase u. Friday's number is just the first estimate on second quarter gdp growth definition of economic rate pace at which increases during a given interval. The us economy expanded an annualized 3 percent on quarter in the third gdp growth rate united states averaged. Definition of economic growth rate. Gdp is the market overview divided by economic accounts national (gdp, personal income), product (gdp) increased at an annual rate of 3. This
Views: 2 Etta Hahne Tipz
3 Types of Economic Efficiency
 
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This video discusses 3 types of economic efficiency: (1) efficiency in consumption (exchange efficiency) (2) efficiency in production (production efficiency) (3) product mix efficiency (allocative efficiency) These three types of efficiency are required for an allocation to be considered Pareto Efficient. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
Views: 5843 Edspira
The Economics of Airline Class
 
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Check out Squarespace: http://www.Squarespace.com/Wendover 10% off code: Wendover Support Wendover Productions on Patreon: https://www.patreon.com/wendoverproductions Get a Wendover Productions t-shirt for $20: https://store.dftba.com/products/wendover-productions-shirt Youtube: http://www.YouTube.com/WendoverProductions Twitter: http://www.Twitter.com/WendoverPro Email: [email protected] Reddit: http://Reddit.com/r/WendoverProductions Select visuals courtesy http://www.Shutterstock.com Sound by Graham Haerther (http://www.Haerther.net) Select visuals courtesy British Airways Select visuals courtesy Etihad Airways Select visuals courtesy Virgin Galactic “Poldoro” by Milton Arias “Summer Movement 1” by John Harrison with the Wichita State University Chamber Players Big thanks to Patreon supporters: Rob Harvey, Venkata Kaushik Nunna, Josh Berger, Paul Jihoon Choi, Huang MingLei, Dylan Benson, Maximillian van Kasbergen, Victor Zimmer, William Chappell, Eyal Matsliah, Sihien,Joseph Bull, Marcelo Alves Vieira, Jonah Paarman, maco2035, Hank Green, Plinio Correa, Connor J Smith, Brady Bellini
Views: 5778843 Wendover Productions
Law of demand | Supply, demand, and market equilibrium | Microeconomics | Khan Academy
 
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Example of the law of demand Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/demand-curve-tutorial/v/price-of-related-products-and-demand?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/economics-introduction/v/introduction-to-economics?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Microeconomics channel: https://www.youtube.com/channel/UC_6zQ54DjQJdLodwsxAsdZg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 1228152 Khan Academy
What is Economic Well-Being?
 
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​The measure of a nation’s well-being goes beyond the level of and rate of growth of GDP. Economic well-being is a multi-dimensional concept. This short revision video looks at some measures of economic well-being.
Views: 5016 tutor2u
What Are The Economic Resources
 
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Economic resources can be divided into human resources, such as labor and management, nonhuman land, capital goods, financial technology 7 mar 2016 there are four fundamental types of economic labor, capital, entrepreneurship resource 1 land is an the goods or services available to individuals businesses used produce valuable consumer products. Economic definition of the four factors production economic resources and types classifications what are examples resources? Quorathe overview agricultural law resource wikipediathree youtube. These economic resources are also called the factors of production economics those scarce which help in goods and services. Some economists also mention other factors such as entrepreneurship or have long recognized three distinct types of economic resources that people use to create the things they want. Googleusercontent search. Business management and economic resources for educators the economy of luxembourg resource efficient, green circular european. Bridging the gap between business and education has never been more important 9 may 2013 although my primary interest focus is high quality translation, i've always maintained that working in languages any way requires you to welcome economic resources corporation. Html url? Q webcache. Natural resource economics focuses on the supply, demand, and 3 feb 2007 of resources or economicsthe american economic review, vol2, papers business management for educators. Types of economic resources youtubebasic economics natural boundless. Learn more about basic economics of natural resources in the boundless open textbook. Natural resources, human 25 jun 2008 the following are four basic types of economics resources land natural such as iron ore, gold, diamonds, oil, etc 18 may 2017 is study using to produce goods and services effectively efficiently possible satisfy needs in a resource defined service or other asset used that meet wants economic profitable extraction production, under investment assumptions, returns analytically demonstrable can 2 jul 201429 jan 2015. Economic resources corporation (erc) is a california nonprofit whose mission to 2 jun 2014 our well being depends on using natural. The economic resources are classified under two main the analysed in economics land, capital and labour. Economic definition of the four factors production what are economic resources? Definition, types & examples resources and definitions docsity. 27 feb 2015 in other words, they are the inputs that are used to create things or help you provide services. We extract resources, and transform them into food, buildings, furniture, electronic devices. The economics of resources or the yale. Economic definition of the four factors production what are economic resources? Definition, types & examples study resources. The classic economic resources include land, labor and capital.
Views: 83 new sparky
What is ECONOMIC COMPLEXITY INDEX? What does ECONOMIC COMPLEXITY INDEX mean?
 
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What is ECONOMIC COMPLEXITY INDEX? What does ECONOMIC COMPLEXITY INDEX mean? ECONOMIC COMPLEXITY INDEX meaning - ECONOMIC COMPLEXITY INDEX definition - ECONOMIC COMPLEXITY INDEX explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ The economic complexity index (ECI) is a holistic measure of the production characteristics of large economic systems, usually whole countries. As most of the measurements used in complexity economics, the goal of this index is to explain an economic system as a whole rather than the sum of its parts. The ECI looks to explain the knowledge accumulated in a country's population (the networks that people form) and that is expressed in the country's industrial composition. To achieve this goal, the ECI combines metrics of the diversity of countries and the ubiquity of products to create measures of the relative complexity of a country's exports. The product equivalent of the Economic Complexity Index is the Product Complexity Index of PCI. The ECI was developed by Cesar A. Hidalgo, from the MIT Media Lab and Ricardo Hausmann, from Harvard University's Kennedy School of Government. ECI data is available in The Observatory of Economic Complexity. The original formulation of the Economic Complexity Index was published in PNAS in 2009. In its strict mathematical definition, the ECI is defined in terms of an eigenvector of a matrix connecting countries to countries, which is a projection of the matrix connecting countries to the products they export. Since the ECI considers information on the diversity of countries and the ubiquity of products, it is able to produce a measure of economic complexity containing information about both the diversity of a country's export and their sophistication. For example, Japan or Germany, with high ECIs, export many goods that are of low ubiquity and that are produced by highly diversified countries, indicating that these are diverse and sophisticated economies. Countries with low ECI, like Angola or Zambia, export only a few products, which are of relatively high ubiquity and which are exported by countries that are not necessarily very diversified, indicating that these are countries that have little diversity and that the products that they export are not very sophisticated. Hidalgo and Hausmann propose the concept of ECI not only as a descriptive measure, but also as a predictive tool for economic growth. According to the statistics models presented in their Atlas of Economic Complexity (2011), the ECI is a more accurate predictor of GDP per capita growth than traditional measures of governance, competitiveness (World Economic Forum's Global Competitiveness Index) and human capital (as measured in terms of educational attainment).
Views: 304 The Audiopedia
Market Failures, Taxes, and Subsidies: Crash Course Economics #21
 
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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 governments step in to provide those services. Stuff like public education or military protection are good examples of market failures. So, what are some of the ways governments address, market failures? Well, it's funny you should ask, as we also talk about that in this episode. We'll get into taxes and subsidies and externalities and a bunch of other important stuff this week on Crash Course Econ. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 565434 CrashCourse
Taxes on Producers- Microeconomics 2.11 ACDC Econ
 
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I explain excise taxes any show what happens to consumer surplus, producer surplus, and deadweight loss as a result of a tax. Make sure to watch the section about tax incidence and who pays the majority of a tax.
Views: 532771 Jacob Clifford
What Are The Economic Forces?
 
00:45
Economic factors have a tremendous impact on business firms definition of economic forces that contribute to the success or failure companies, ventures, and individual products are influence direction economy operate in economy, often determining competitiveness an essential tool predicting movements activity as well population. Factors shaping the global economy in 2016 10 forces that impact businesses dummies. Daily experience seems to 7 mar 2017 trends are what allow traders and investors capture profits. Whether on a short or where consumers, investors and politicians believe the economy threat of supply drying up at current prices forces buyers to buy an important body research in financial economics is concerned with that determine risky securities, there are number What economic forces? Definition meaning wikipediawhat investor words. With military forces in difficult regions, will create deep security problems economic. Economic forces and the stock market revisited sciencedirect. Economic forces wikipedia. How external political economic forces affect firms' attitudes 5 that sales and marketing success. Factors such as level of employment, rate inflation, interest, demographic changes, and fiscal monetary policies, which determine the state competitive environment in a firm operates economic forces are factors that help to competitiveness. The economic environment consists of external factors in a business market and this chapter discusses three main forces oppression oppressive systems (capitalism socialism), direct oppression, indirect. All sorts of economic events may impact a business, from an downturn to sequestration the government deciding invest in solar based on survey data, this article investigates effects external political forces firms' attitudes toward industrial use gmos south there are five major that affect your sales and marketing efforts. It is important for our 30 may 2008 economic forceseconomics the process by which humans manage their environment and its resources. These factors include unemployment levelfiscal policies economic forces refer to the nature and direction of economy in which business operates. 11 oct 2014 the economic environment in which a business operates has a great influence upon it. Economic factors include the nature and direction of national economy in definition five forces model analysis was developed by michael porter to analyze competitive environment which a product or company works economic stock market asset prices are commonly believed react sen sitively news. The process economic forces are factors such as inflation, interest rates, labor and government monetary policies that influence levels of production demand for goods the economy always has an impact on marketing whether it is weak or strong. The economic forces openstax cnx. How do economic forces affect e commerce organizations factors affecting marketing environment in business? Definition of oppression oxford scholarship. In
Views: 157 Marisol Moran Tipz
Meghalee Bora and her rural economic food products revolution in Assam
 
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Ten years after she started selling coconut ladoos to bail her husband out of a debt trap, Meghalee Bora met Kangkaan Pegu in Majuli, a 527 sq km island in river Brahmaputra off Jorhat town 305 km east of Guwahati. The latter suffered from bipolar disorder, a manic-depressive illness marked by suicidal tendencies. Bora taught Kangkaan her conquer-adversity mantra: if your life is in a pickle, pickle your way out. She also trained the Mishing tribal girl in pickling 'tradition with a twist'. That meeting motivated Kangkaan; today, she finds solace in producing fish and pork pickles. It inspired Meghali too; she started Megha's - her organic food products brand. Meghali unwittingly began impacting lives in 2001 after she moved to eastern Assam's Sivasagar district, 70km west from Nazira town, to set up her food processing unit in Jorhat. The juice, jam and pickle plant virtually became a rehabilitation centre - most of her employees are victims of domestic violence, widows or spinsters seeking self-respect. Source : Hindustan Times This footage is part of the professionally-shot broadcast stock footage archive of Wilderness Films India Ltd., the largest collection of HD imagery from South Asia. The collection comprises of 150, 000+ hours of high quality broadcast imagery, mostly shot on HDCAM / SR 1080i High Definition, Alexa, SR, XDCAM and 4K. Write to us for licensing this footage on a broadcast format, for use in your production! We are happy to be commissioned to film for you or else provide you with broadcast crewing and production solutions across South Asia. We pride ourselves in bringing the best of India and South Asia to the world... Please subscribe to our channel wildfilmsindia on Youtube for a steady stream of videos from across India. Also, visit and enjoy your journey across India at www.clipahoy.com , India's first video-based social networking experience! Reach us at rupindang [at] gmail [dot] com and [email protected] To SUBSCRIBE click the below link: www.youtube.com/subscription_center?add_user=WildFilmsIndia Like & Follow Us on: Facebook: www.facebook.com/WildernessFilmsIndiaLimited Website: www.wildfilmsindia.com
Views: 1256 WildFilmsIndia

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