Law of demand | Supply, demand, and market equilibrium | Microeconomics | Khan Academy
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Example of the law of demand
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Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course
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Khan Academy: "Making up for all the damage done by shitty teachers everywhere". Thanks for the videos, they are making my academic life so much easier!
agreed 😂😂
to be honest as a student who is 14 year old, you gotta apreciate your teacher man i mean without them who would teach you really i feel bad for them.
On god. I have an exam coming up
KEY TERMS IN THIS VIDEO:
1. The Law of Demand: Price and demand are related to each other
2. Demand Curve: The way economists measure the relationship between price and quantity demanded in an object
3. Demand schedule: a table that shows the quantity demanded at each price
Dude thankyou
Thank you so much for this great explanation! As a person with a science degree, and 25 years interpreting non-business graphs, this whole dependent and independent variable thing in my first microeconomics course has been troublesome. I also appreciate your emphasis on demand vs quantity demanded, a very important distinction often not highlighted well by texts or professors.
+thedrumman64 come on turd, can't you learn to read a graph with transposed axis??? it's the same thing, the SAME THING!!
Just love ur videos man and ur upbeat voice that makes me focus and understand everything. Keep them coming..
I first learned demand and supply from the mission in Grand theft auto
Me too
Vice city 😂
Yeah vice city😂😂
🤣🤣🤣🤣
@@roshnipillai4656 00000⁰0000
Not everyone can teach economics. I failed economics as an elective at University as no one understood what the lecturer was teaching now you are giving me the courage to go and repeat it and be successful. Great explanation you are a true expert
how’d u do
Thank you so much! got an exam for econ tmr, i was really confused at first, but then after watching your video, i'm clear with it! thank u !
It’s like I pay 💰 college to teach me and when they don’t teach me I ask the teacher which sometimes doesn’t teach so I look TH-cam videos or read on myself but I still pay for my college like what are we insane ? But again if you teach yourself it’s not really that useful
Thank you! I tried another video on supply before this and I could barely understand it but then I watched this one and wow can learning be so much easier by different people
This really helped me! I am in secondary now and your videos really benefit me and my friends! The thorough explanation helped greatly:)
There has never been a greater time in history than now to be an autodidact.
Khan, finally I found someone in the world of economics who plots the freaking price in the freaking x axis where the freaking independent variable, which is the freaking that you control, goes.
great video, my only criticism would be that you should have mentioned expansion and contraction which is actually the only real reason why the chart is relevant.
i'm waiting for Space Whatever to be released.
Thanks for this I'm having my licensure board examination tomorrow in agricultural economics.. This helps a lot 💕
it bothered me in high school that price was he vertical axis and never made sense to me! just saying.
Exactly my thoughts too. Price seems like it would be the independent variable, not the dependent variable.
It's merely a long-standing convention. Think "P" is jointly determined by the joint interaction of demand and supply (as is "Q").
Yes. This was an error introduced by the great economist Alfred Marshall in the 1880's or a tad later. The error has been carried along since then. :-)
The screen looks like the loading screen from GTA:Vice City. Even the handwriting looks similiar, love it.
I think I would also tend to put price on the horizontal axis.
Thank you. You made me realize what confused me with the demand curve.
good video thanks for providing the useful information
THANK YOU KHAN ACADEMY WE LOVE YOU
Thanks to Khan Academy...always helping me to learn more and understand better💯🇰🇪
This is good for internalising contents taught in class.Good job!
Thank you for this video...I have been studying eco for the past 2 years and this whole thing about dependent N independent variable on x and y axis has bugged me a lot...This video made it clear :)
Like the video, but quite a graph you got there in the example - at some point price increase doesnt result in falling quantity demanded ;) I wish it would work this way in a real world...
such a nice epen youre using
5 demand notes if u need em lol
- rising the price will lower quantity demand of product.
-lowering the price will increase the quantity demand product.
-demand and demand quantity are different.
-demand schedule shows a relationship between price.
-different demand different "curve"
this is very helpful for anything school
Good explaination
Your simple explanation of why you find it confusing that P is on the Y axis just cleared everything up. Teachers always spoke about the price as if it was a determinant and I was so confused. Bizarre how something so simple can ruin the whole concept if left unexplained.
You just saved my life. Thank you
than k you i understand it very good
why is the audio in all of these videos only coming out of the left side?
The law of supply and demand! Of course!!!!
I ♥️ this.
Please how do I locate the economics lesson playlist?
@safeinsuburbia and...? Even given that those who can't do teach doesn't mean that those who teach can't do. :-/
If A -> B
B still does not necessitate A.
Ceteris Paribus / Holding everything else (all the things you mentioned) equal!
Economics is my favorite one
Thanks sir ❤
Thanks, but as a business owner how do I apply this? Usually for each priduct I only know the quality demand of one price, how do Iget the other quality demands?
the graph is certainly strange. at first glance, that graph would tell me that "as the quantity demanded increases, price decreases"
어떤식으로 사람들이 자신의 원하는 것을 추구를 하고 그런것이 또 그래프에 나타나는지 또, 파는 사람의 입장에서는 어떤 식으로 자신이 소유하고 있는 가치를 팔려고 하는지를 그래프에서의 평형으로 한 눈에 이해할 수 있었습니다.
Presentation amd voice clearity are v nice 👍🏻👍🏻
I HAVE A QUIZ ON THIS TOMMOROW
Very good helping video
You have the math correct and the economics incorrect. Price is always a dependent variable (vertical axis), determined by the ratio of goods given (including money) to goods received. You described an "asking price" not a price. (Also, distinct from a bid or offer price.) Also, you can never know a demand schedule in advance. You can only hypothesize about demand based on experience.
Thanks for making this video ,I have a project regarding this topic
Ty for making this video khan academy
Thanks from India🇮🇳
i watch ur video jus for fun haha
law of da man
What is the next video in this series?
Isn't scenario E better as you would earn $110,000 more than scenario A?
Adam Jensen it would be 230000 not that go do some maths.
that is getting into elasticity of demand
this is my second time taking macro economics in college and my teachers are never good. I always get it.. however when you get to the graphs and the math stuff i nbever understand and its frustrating
wow, he even knows economics
If Price,P, increase then the quantity demanded,Q, will decrease and if P decreases, then the Q will increase.
Therefore the condition that will make this statement false is, P increases and Q increases, or P reduces and Q reduces too.
It follows that if Q increases then P will increase , and if Q reduces P reduces too. Am I wrong?
good work
I´m gonna study that more
Please translate videos to PT_BR
very good
Very nice dear sir
Tax increases mirror price infladtion
@safeinsuburbia lol... look at his credentials on Wikipedia, dude. Also, he was a hedge fund analyst and he decided to quit his job in order to teach. He's far more intelligent than you...
spr
is this correct? when the demand is high prices goes up, when demand is low prices go down?
Can explain a little more
what will happen to the price when demand will increase ?
@DJSt3v3n Well he used to be a hedge fund analyst.
What is the "blackboard writing tool/technology" being used in this presentation? Will you please let me know? Thanks.
@DJSt3v3n He knows evertything.
Good
does the demand always have to be the ''Curve'' or not i am just wondering can anyone please answer me.
Damn... Bummer this guy doesn't do game commentaries, he would be good....
What are the exceptions
you are wrong here, price = f(quantity demanded)
👌👌
Chally getting sponsored by Khan Academy
Khan 2012...wait...
VOTE for Kan in charge of the conventions of economics!! We demand Price in horizontal axis!! xD
Increase price doesn't nec. decrease demand.
There are qualitative, need and desire, and other psychological factors such as: future look on price, overhead capacity, etc.
Don't listen to this man and his free academy.
Lol.
BEEF up the price!!
you mean assuming others stay constant? mind your Latin, man.
rick of rick and morty.
i love linking this to communists on discord
.
god i hate my microeconomics lecturer
Did not help
Who came here for the test?
Now if only Bernie sanders supporters would only watch this video
No. A video that would combat Sanders' economic views better is the video they have about the minimum wage and price floors. Of course, there are no relevant candidates representing strong economic philosophy (RIP Rand Paul campaign).
@@juliuscaesar9493 The only problem is people are so uneducated in economics that the combination of the Dunning Kruger effect and a misguided but legitimately passionately well-meaning dogma. And so the lemmings will not only run over a cliff, they will drag everyone with them too.
Stick to your principles Khan, that graph just looks so wrong! :(
Thanks to Khan Academy...always helping me to learn more and understand better💯🇰🇪
very good explanation
Very nice