Dear EconplusDal, Here is just a little background about me: I am Khorshed Tarapore from New Zealand and in 2015 and 2016 I studied CIE Economics (I took AS in 2015 and AL in 2016). As always my teachers were absolute garbage and although I can self study any other subject Economics was one that some of the topics were just not clicking and the textbooks looked a bit too overwhelming! So I pretty much one day found your youtube channel on youtube and honestly it was one of the best days of my studying life. Your videos are amazing- they are so detailed but at the same time short and simple- they don't have confusing jargon and if you do use jargon you always define it so perfectly. Your videos got me As in AS and in A Level! I would just like to thank you- even though you don't know me I am just so thankful for all your help and honestly if I ever met you there would be many hugs your way! I had promised that if I got an A in CIE I would email you (however even if I got Cs and Ds I would have still emailed because you really did help me so much!). Being a maths tutor myself I just wish that one day I can teach like you do. Hope you have a lovely day and year ahead! Kind Regards, Khorshed Tarapore
I also study the same exam board, and yes share the same feelings, this guy is amazing in his explanations. The way he manages to explain key concepts in 8 mins, something that my teachers fail to do in an hour long lecture is what makes this guy special. Cheers!
Hi Tarapore, do you still have Econ essays that you have written? If so, can you please share it with me as I'm also sitting fro the exam this October.
Great vid! I'm just a little bit confused with how productive efficiency will allow producers to make higher profits. If this is the case, then wouldn't the profit maximising point be the minimum of the AC curve? If where MC=MR is profit maximising, then how is it possible for producers to make higher profits by being productively efficient (where MC may not = MR) Thanks
All of these analysis points are benefits to both consumers and firms. Is it because in general being efficient is beneficial? So, the evaluation would be if the business was productively inefficient or allocatively inefficient, is that correct?
you would say how monopolies are profit maximisers leading to abnormal profit therefore dynamic efficiencies then his chain of reasoning for one KAA and another KAA may be for allocative or productive as a monopoly may want to maintain market share and maximise consumer welfare. Thats how i would structure it, any other thoughts?
how cnq you evalaut3 this?= can you say being x efficiency is very difficult, abd very costly fo ra firm -. can you also say dynamjc efficinecy takjes time, as it takes timw to bring in nrw technology, ?/
