You're a legend mate. I'm not a student of economics, but have been struggling to understand this for some history I'm doing. This has rescued me from months of uncertainty. Can't thank you enough.
Regarding the equations, the one used in this video is fine even though slightly different to the more technically correct equation used in the previous video
Good points about the change of value of export. But how about the change of value of an import. So I think whether the combined elasticity of PED of X and M greater than one should be more precise to the determination of the benefit to an economy. Because the combined elasticity affects the net export which plays a substantial part in the improvement of the current account and the growth of GDP.
3:04 So Q measures the rate of Demand of the Product and not the actual produced product quantity. But isn't Revenue = Price(P2) x actual Product sold (Q2). As I'm trying to Split The Demand for the actual product vs. Price (P3@Q1) based on increase in Profits and Margins alone without no change in actual product quantities.Thus extra cashflow used to buy more Supplys to lift the supply line up from insecting at P1 to intesect at P3 without changing Q1....Maybe mixing up the basics and trying to force the answer I'm looking for
In short I wanted to use this TOT formuale's for 4x Applications in Life and one of the being Eskom's (SA Electricity Utility) EAF/ Electricity availability Factors and etc....thus why I need to be wrong "comfortably" in order to find what it is I am looking for
For these international primary product markets does it not make more sense to use perfect competition, as one small developing country's oil output will not have an impact on oil prices?
![[UNCUT] เก็บ "สจ.โต้ง" เอี่ยวมาเฟีย รู้ตัวคนบงการ ก่อนสั่งลั่นไก I คนดังนั่งเคลียร์ I 13 ธ.ค.67](http://i.ytimg.com/vi/o-J_p62D40w/mqdefault.jpg)
You're a legend mate. I'm not a student of economics, but have been struggling to understand this for some history I'm doing. This has rescued me from months of uncertainty. Can't thank you enough.
I know right
I wish my university had a teacher like youuuuuuuuuuuuuuuuuuu
Regarding the equations, the one used in this video is fine even though slightly different to the more technically correct equation used in the previous video
+EconplusDal you the man, I hope TH-cam pays alot on the ad revenues.
Thanks so much for this whole playlist. Has helped so much
Good points about the change of value of export. But how about the change of value of an import. So I think whether the combined elasticity of PED of X and M greater than one should be more precise to the determination of the benefit to an economy. Because the combined elasticity affects the net export which plays a substantial part in the improvement of the current account and the growth of GDP.
Nice explanation ; it is quite understandable !
Great videos
Do we need to know Terms of Trade for Econ4 AQA? Is it in the spec? Thank you!
2:27 What happens to the quantity levels remaining the same at 1:01 and 1:44 isn't the price (P3) supposed to be higher @ (Q1) 2:22
3:04 So Q measures the rate of Demand of the Product and not the actual produced product quantity. But isn't Revenue = Price(P2) x actual Product sold (Q2). As I'm trying to Split The Demand for the actual product vs. Price (P3@Q1) based on increase in Profits and Margins alone without no change in actual product quantities.Thus extra cashflow used to buy more Supplys to lift the supply line up from insecting at P1 to intesect at P3 without changing Q1....Maybe mixing up the basics and trying to force the answer I'm looking for
Also isn't the Rate of Change from Q1 to Q2 indicative of a rise in Supply or Inputs in order to meet the required Revenue Demands of (P2 x Q2 )
In short I wanted to use this TOT formuale's for 4x Applications in Life and one of the being Eskom's (SA Electricity Utility) EAF/ Electricity availability Factors and etc....thus why I need to be wrong "comfortably" in order to find what it is I am looking for
5:40 My Assumption is wrong then lol, will dust it up later
Can we include in that last point regarding technology that a country can gain absolute or comparative advantages?
Isnt that just a productivity point that was mentioned in the video?
is it the welfare effect of change in terms of trade
the equation in both videos 47/48 are different are both ok to use in the exam?
The first one is the best , but they are nearly equivalent
youre too good are you real
free ma boi jama
For these international primary product markets does it not make more sense to use perfect competition, as one small developing country's oil output will not have an impact on oil prices?
God bless you
x axis
Vikkstar's brother