Types of Goods and the Four Main Economic Systems
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- เผยแพร่เมื่อ 13 ก.ย. 2024
- With microeconomics covered it's time to dive into macroeconomics! We will begin by looking at the four main economic systems. This will require that understand the types of goods and services, those being rivalrous or non-rivalrous, excludable or non-excludable, with these labels mixing and matching to give us private goods, public goods, common goods, and club goods. When countries decide what to produce, how to produce it, and for whom to produce it, they are in essence selecting an economic system. This could be a traditional economy, a market economy, a command economy, or a mixed economy. That was a lot of vocabulary words, so let's dig into this concept now!
Script by Matt Beat: / iammrbeat
Animation by Ignacio Triana: / unraveled
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as a marketing employee of a company with a variety of products to offer and new products being produced, this presentation helps me or even broaden my basic concept of economics.
Interesting that you might use public roads as non-excludable goods. People who can't get a driver's license can't use the roads (legally, anyway), though I did appreciate the fact that you distinguished all roads, in general, from toll roads. Also, great job distinguishing political systems from economic systems; a very important distinction that is less understood these days. Keep up the great work, Professor Dave! 👍
although in general licenses are basically non-excludable as you generally don't have restriction on the ability to obtain one (excluding of course criminality)
Could ride a bike on some roads, not expressways
If you are in the passenger seat, you are also using the road.
Yep, I anticipated every one of these exceptions. And they're appropriate exceptions. Still, the fact is, for motorists (which is clearly what was implied in the video), you must be legally licensed to legally use the road. The fact that one must be licensed is the principal reason that driving is a regulated privilege, not a right.
@Jerms_McErms Yep. You can also land planes on roads, have a picnic on roads, skateboard on roads, and rollerskate on roads. We can do lots of things on roads, but the original post was clearly referring to driving on non-toll roads, which we can all agree is the principal use for roads.
imo a mixed one is the perfect one
especially if it's planned from bottom to top and decentralised - enabling quick changes and an ability to make up to public needs faster.
on the other hand - strictly democratic government (basically a tool in the hands of the society) should have a say in the market and it's regulations - so rights of workers and consumers can be protected. and I'd of course really like it to be based on worker cooperatives and how Marx would say "collectively owned means of production" - that allows workers to have the most to say in case of their own work and makes institution of work democratic, instead of authoritarian, monarchical even.
@@godseed7984 I mean, it's my opinion not Marx's so I don't agree with him on everything - and with that thing I also don't. Socialism in it's purest is just a democratisation of work. Paired with democratisation of state it's rather an opposite of a dictatorship
Thank you Sir ❤
can you suggest any books and/or websites to learn physics outside academia
Thankyou🙏
Hello from Iowa.💯
oligopoly is command economy imo, even if it's corporatist instead of government-run
You're planning to dedicate a series on political science? I'm sure these videos will get awful comment sections, similarly to the ones debunking pseudoscience.
Speaking of it though, are there any specific ideologies you're planning to discuss or no?
It will be extremely thorough, I'll cover it all.
@@ProfessorDaveExplains th-cam.com/video/Qf03U04rqGQ/w-d-xo.html
Maybe this too for an end all to pseudoscience
@@ProfessorDaveExplains th-cam.com/video/hnoImxaa69g/w-d-xo.html
The funniest pseudo field definition video ever,
@@ProfessorDaveExplains What are you politics, it would help make the videos easier to digest.
thank you so much for the explanation
Outstanding.
thank you sir
2:50 but Netflix runs on physical networks with limited bandwidth, Netflix also has their own technical bandwidth constraints, as well as organizational operational limits, as well as competitive demands...
I guess a theoretical argument that the goods themselves, broadly speaking, the movies and shows that Netflix offers are non-rivalrous, but that argument would still need to be made
Regardless, thank you for the video! I understand these were just examples to communicate the concepts
Edit: wait I see... perhaps that theoretical non-rivalrousness of Netflix streams, in conjunction with the exculdability layer which integrates those currently existing bandwidth limits may qualify it as a club good. Efficiency or technological changes (economy of scale, blockchain) could in the future lower the bandwidth limits enough to practically qualify it as a common good.
Sir can you please make a video on
a) Why energy of electrons increases as we move away from the nucleus and why gaps between orbits aways from the nucleus is greater than the gaps between the orbits near to the nucleus??....plz sir it is my humble request 🙏🙏
Appreciate this sm!
what's the name of this chart of goods?
Hello proffesor dave
Love from INDIA sir♥️🇮🇳
Traditional economy, Market economy, Command economy and Mixed economy
What about a feudal economy?
Can we get Prof. Beast Dave? You look great with the long hair and beard.
Nice one Dave. I'm just surprised that while you discussed Capitalism, Socialism, and Communism yet you didn't mention Fascism.
@Fk Yu Actually Fascism has an economic model. The market is like Capitalism, free market, but heavy government regulation is involved.
@Fk Yu wrong, fascism is inherently an economic system, as described by its creater/founder, benito musolini. it is the merger of capital with government, for full economic and social control. Top down, personality cult, beholden to capital.
@Fk Yu i'm sorry you're wrong? buh bye.
Are you economics prof.?
Should have just kept the intro to the science stuff since science be defined as the pursuit of knowledge, thus encompassing every video on the channel.
But I could see this could cause issues tho
The study of economics is a long-accepted science. I sincerely doubt Professor Dave is worried about whether others have a problem seeing economics as a science.
👍 👌
Anyone know Dave's politics, it would help when watching these videos.
These tutorials were written by a high school economics teacher and have nothing to do with politics.
👏👍
Super simplistic on the "command" style system. Also, what an incredibly disingenuous choice of term. you make some pretty dubious claims. i hope you plan on revisiting that with a little more nuance, and a little less obvious contempt.
There is nothing dubious, and no contempt. As for lack of nuance, this is high school economics level content.
@@ProfessorDaveExplains i suppose we will see in the coming videos if you fairly represent the concept of planned economies. I hope you at least make the distinction between private property and personal property. That seems like a fairly grade-school level concept that rightwing economists tend to ignore, as its such a convenient method to move goalposts whenever needed.
Looking forward to the political science series.
Embarrassing to watch a grown man act like a 5 year old and try to defend flat earth.
Air and knowledge are goods??? One is natural, global and is ungraspable. Knowledge is an ability, not a thing.
You think knowledge is an ability? That's astounding.
Air is a good. I wouldn't want to do without it.
Not sure if it is non-excludable, though. If my neighbor pollutes the air, he diminishes its availability for me.
Knowledge has also become excludable, with the introduction of copyright and patent laws.
@@dalstein3708 The weird thing about patent law, is it makes the knowledge available to all, yet prevents most from making use of that knowledge. Compared to trade secrets where the inventor does everything they can to make the special knowledge excluded.
@@mikefochtman7164 I am not an expert, but I thought the holder of a patent is under no obligation to grant anyone a license on their technology. Some copyrighted materials such as music are automatically licensed, so anyone can perform the song provided that they pay the collection agency. But those uses would be the exception.
@@dalstein3708 That is true. They can use the invention themselves and not license anyone. But as part of the patent, they have to fully disclose the 'invention'. So the 'knowlege' becomes public. And it's up to the patent holder to enforce his rights to it. If someone else makes money off his invention, he/she has a right to sue, but it's solely up to them to bring the suit. If the offender can 'outspend' him in lawyer fees.... Oh well.
I am commenting #BringBackDislikes on every unique TH-cam video that I watch for the rest of 2024, regardless of if I actually dislike the video or not. This is video 1819.
Most of the money ends up in Tel Aviv
????????
@@castor9683 👃👀👍
There are *only two* schools of economics. Those that think the economy can be engineered to produce "desirable" outcomes. And those that understand economics.