Micro Unit 2 Summary (Old Version)- Supply, Demand, and Consumer Choice

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Welcome to ACDC Econ. The is the Micro Unit 2 Summary. In this video I explain demand and supply (1:07), double shifts (9:30), price controls (10:19), elasticity (11:37), welfare economics(17:07), tariffs, and how to maximize utility (26:15). Be sure to subscribe and get the ultimate review packet. Thanks for watching.
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Опубликовано:

7 авг 2024

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Комментарии : 419

@impressicaj 7 лет назад

no youtuber brings me more utility than Jacob Clifford

@makanakabmutsakani2663 3 года назад

Say it.....a true economics student

@JacobAClifford 8 лет назад

So, what did you think? Did this video help? What else do you want me to cover?

@maximlyakh4575 8 лет назад

+ACDCLeadership thank you so much for uploading it. It really helps

@JacobAClifford 8 лет назад

You are welcome. I have more videos on the way

@raiyaal-nsour4725 8 лет назад

+ACDCLeadership Awesome videos! It would be really great if you had one video that talked about all of the graphs in micro, often I have a difficult time differentiating between them.. especially when it comes to perfect and imperfect competition graphs

@JacobAClifford 8 лет назад

Working on that right now:)

@juliestewart6500 8 лет назад

+ACDCLeadership Hi, I purchased your review packet but there is a page or two missing from your micro answer key on unit two supply and demand. I thought you should know and was wondering if there was a way I could get the missing pages :) I am finding your videos very helpful as well as your review packet!

@acmusiclover769 8 лет назад

this man should know how great he is.... just wow. Really thankful

@jett4653 5 лет назад

a little acronym i was taught for change in demand is times/c t-taste and preferences i-income m-market size(number of consumers) e-expectations(future) s/c-substitution/complimentary good

@marshakerr1036 5 лет назад

Will be using this, thanks....what can I use for Supply?

@stevenguyen731 5 лет назад

Marsha Kerr for supply 5 shifters i came up with TIMER T ax and subsidy I novation/technology M arket /producer E xpectation R esource price

@marshakerr1036 5 лет назад

Steve Nguyen if I use the same TIME I will be confused 🤷🏻‍♀️.....I use PENTS. Price of resources Expectation Number of producers Technology Subsidy and Taxes

@LilFletch926 8 лет назад

You are the best online teacher there is by far! Everytime I need help in economics you are the first person I look for to help. Your videos are easy to understand, entertaining, and extremely helpful. Thanks you so much for putting your time in and making these videos!

@JacobAClifford 8 лет назад

+Lil Fletch You are very welcome. Thanks for watching

@nermienmedhat9153 7 лет назад

Sir you are amazing and I wish my university hired people as good as you or as passionate about their subject, thank you in advance for saving my gpa!

@xDisykinsx 8 лет назад

You are awesome! 3 weeks I've been struggling in my microeconomics class.Tomorrow is our exam... Yet, I've learned all the materials in one night from your videos!

@JacobAClifford 8 лет назад

+Adisa Disy I'm glad I was able to help. Good luck on your exam

@krissyjames2204 5 лет назад

I appreciate you so much for these videos! I rewatch them over and over so the concept can stick. Thank you for all that you do. VERY HELPFUL!

@amunyanOwO 7 лет назад

Thank you for covering so much material so fast! Best review sesh ever, I feel ready for my midterm.

@tricia9015 6 лет назад

More helpful than you'll ever know. My brain, my family, my tuition money, my sanity, my excitement for graduating all thanks you!

@wendyhartlen742 5 лет назад

I am a 44 year old American just starting out my University studies in Sweden (yes in Swedish). Even though I speak fluent Swedish, Microecon is a whole other language. I was on the verge of dropping out when I found your videos. I'm only on Unit 2, but I think I may pass my first exam soon thanks to you!! THANK YOU!!!!

@maxzussman5692 8 лет назад

This helped me so much for midterms! Thanks a lot and keep making great videos!

@JacobAClifford 8 лет назад

+Max Zussman Thanks Max. I'm glad you enjoyed it. There are more videos on the way

@lenn6776 7 лет назад

First time I understood the concept of CS and PS! Explained so easily and practical like "someone was willing to pay $10 but got it for $5.." and so on. Please keep it up! Thanks a lot!

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I got scared when the girl started to say Dad. I thought I was getting hacked. Lmaoo

@Crimby. 6 лет назад

This is the first video I actually put to .75 speed

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My Econ professor should be fired.

@wewarnedyou97 8 лет назад

same

@hoangpham2658 7 лет назад

So truee haha

@50nya 6 лет назад

same

@Maria-mu9wt 6 лет назад

Same lol

@billhuang2731 6 лет назад

big facts

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Even 2 years later you're making a huge difference in peoples grades. Love it and thank you for what you do

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@CarrieS864 8 лет назад

You have really helped me understand this, before I was just lost and confused. Thank you for the videos!

@OliviaKalmer 7 лет назад

Thank you so much!! Micro has been so difficult to me and these videos are making me understand it. I have my test Thursday. I've been studying! Hopefully I do well.

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@JacobAClifford 7 лет назад

Thanks! I'm glad I can help

@ryannguyen4983 7 лет назад

I finally get price elasticity of supply now! TYSM! My teacher LOVESSSS you, she raves about you all the time.

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Understood Econ..... But more importantly I am still unable to do the thing with my pinky and thumb.

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Harambe smiles when he looks at Jacob Clifford

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@iamnowannabe1 8 лет назад

Thank you for taking the time to upload these videos. They are of great help and you are an amazing teacher!

@JacobAClifford 8 лет назад

+Nadya latumahina Thanks Nadya. Please subscribe and tell your friends

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i swear to god i love this man. This is helping lot ,it's like a blessing .Thank you so much

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I think one of the reasons this is very helpful is because of how fast paced it is. It gives me a vibe of energy and i think it puts me in the mindset that I already know what I'm doing...

@Excaliberjih 8 лет назад

Great job on the summaries! really helped me understand micro a lot more :)

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@MusicalInquisit 5 лет назад

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@JacobAClifford 8 лет назад

+Kimberly B You are welcome Kimberly

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@JacobAClifford 7 лет назад

You are welcome!

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Thanks Mr. Clifford!

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@JacobAClifford 8 лет назад

+Nick Loat Thanks Nick

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This is better and clearer than my lecturer but for exactly the same concepts. Thank you! I always confusing about the differences between demand and quantity demand.

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@JacobAClifford 8 лет назад

+ohmygoddahal You are welcome

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@JacobAClifford 8 лет назад

+Will Titherington Thanks Will. I appreciate it

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@JacobAClifford 8 лет назад

+陳宥蓉 Thank you for supporting ACDC Econ. I appreciate it

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Jacob Clifford, you are truly amazing. Hoping to pass my first year of University PURELY thanks to your online lessons! My economics professor should be fired.

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Thanks God you exist .....its has been so helpful, I now know a lot about economics.........

@Olav3D 7 лет назад

Exam tomorrow, love watching these summaries 👍

@2303karina 8 лет назад

That's a really helpful video! Thanks a lot!

@JacobAClifford 8 лет назад

+Karina B You are very welcome.

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DO THIS FOR ACCOUNTING

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The best econ teaching ever!!!

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@JacobAClifford 8 лет назад

+Wenshuang ZHANG I;m glad I could help. Please subscribe and check out the Ultimate Review Packet. It is THAT good. Thanks again.

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Thank you Mr. Clifford.

@jad9727 6 лет назад

Subbed for the next two years :)

@TortTf2 7 лет назад

I have my mock on Tuesday, found this just in time, ty, although may I just ask at 14:48 you said an increase in price will shift supply to the left and I thought price changes only caused an extension/ contraction in demand?

@morganelavia8960 7 лет назад

jacob clifford is my life

@alejandrorendonsanchez5085 6 лет назад

Great material, thanks for the video

@luclz-gs3fp 7 лет назад

thx always helpful

@UdyKumra 7 лет назад

I made mnemonics for shifters of Supply and Demand. Demand: CRITE Consumers number Related goods/services prices (complements/substitutes) Incomes of consumers Tastes of consumers Expectations of future prices Supply: PRITE Producers number Related goods/services prices Input prices Tech changes Expectations of future prices There's some others that are important as well but this covers a lot of them.

@sofia8574 5 лет назад

Thank you!

@peternukasani 7 лет назад

mr.clifford! your awesome man! you should consider finding other teachers to add on the ACDC leadership channel with other subjects teaching with the similar style

@clepclips7593 6 лет назад

I think the part on Total Revenue could be cleaned up a little. The examples only talk about price increases and decreases but do not specify that those price fluctuations are due to a supply shift. When price fluctuations occur due to a demand shift, the outcomes on Total Revenue would be different.