Elasticity Overview and Tips- Micro Topics 2.3, 2.4, and 2.5

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  • เผยแพร่เมื่อ 4 ม.ค. 2025

ความคิดเห็น • 135

  • @JacobAClifford
    @JacobAClifford  5 ปีที่แล้ว +157

    The answers to the practice multiple-choice questions are below. Just click on "Read more".
    1. A
    2. D
    3. C
    4. D
    How to get the Ultimate Review Packet
    Step 1: Go to: ​acdcecon.thinkific.com​
    Step 2: Create a free account
    Step 3: Enroll in the free version of the MACROeconomics packet (either AP or College)
    Note Teachers- Do not print any of the packet and give it to your students. This is NOT for in-class use. If you are interested in getting worksheets for your class, please go to my website: ​www.acdcecon.com/bulk-discount​

    • @jerryrozario4541
      @jerryrozario4541 5 ปีที่แล้ว +1

      Thank you sir.

    • @hasnainvirani3478
      @hasnainvirani3478 5 ปีที่แล้ว

      Jacob Clifford sir plz can u tell in video that a about weather conditions affect demand and supply how like when a rain storm natural disasters plz sir

    • @nnekachukwuka370
      @nnekachukwuka370 5 ปีที่แล้ว +1

      Thanks for the video!
      And please make a video on the MIDPOINT Formula 🙏

    • @hasnainvirani3478
      @hasnainvirani3478 5 ปีที่แล้ว

      Annie Nation I have four channel
      1 Gaming
      2 knowledge
      3 Information of World
      4 history

    • @Lee-gm6cz
      @Lee-gm6cz 5 ปีที่แล้ว +16

      Dear Mr.Clifford,
      Can you explain why price elasticity changes from elastic to inelastic along a demand curve?

  • @parcekz9934
    @parcekz9934 5 ปีที่แล้ว +409

    This guy is one of the best teachers on youtube, rivaling and many times surpassing Khan Academy. Thank you very much for your help!!!

    • @BasilHagens
      @BasilHagens 3 ปีที่แล้ว +1

      PatrickJMT is king tho

    • @hetaeramancer
      @hetaeramancer 2 ปีที่แล้ว +8

      @@BasilHagens nah, he has a lot of math vids and a lot of people are bad at math so that's probably why people tend to think that he's so good at teaching any subjects. basically people who are insisting that he's the best are people who are bad at math.
      and to you parcekz, khan academy may not be as good at being entertaining and brief as professor jacob, khan is actually veeeery rigorous. like you can be confident that you have learned everything you need to know about this subject, as if you can compete with undergraduate students even if you haven't gone to college yet.
      but above everything i have said, i strongly agree that professor jacob is literally the BEST economics teacher in youtube in terms of entertainment, being concise and being brief.
      he deserves better, his channel should've been close to 2 million.
      my suggestion to professor jacob is to make more videos; i suggest that he starts finance and capital markets playlists

    • @danielleirick3080
      @danielleirick3080 ปีที่แล้ว

      The Green brothers are great, too.

    • @tabbyblu771
      @tabbyblu771 ปีที่แล้ว +1

      @@hetaeramancer he isn't just brief .. because everything he's said is contained with what I read..
      He talks fast that's why it seems as if he's just brief. Well he's giving me data and it's helping. By the way I'm not bad at math I'm good at it.

    • @darthnihilus2729
      @darthnihilus2729 ปีที่แล้ว

      @@tabbyblu771 🤓

  • @90sDragonkid
    @90sDragonkid ปีที่แล้ว +43

    You explain things 10000x better than some of my economic professors. I'm so glad I found your videos. Thank you!!!!

  • @alexk3252
    @alexk3252 5 ปีที่แล้ว +86

    you have taught me more in one video tan my economics teacher in a whole semester

  • @dennydore2728
    @dennydore2728 2 ปีที่แล้ว +11

    Passed both my Macro and Micro CLEP's all thanks to you! Thank you so much Mr. Clifford, if anyone else is prepping for CLEP's this is the way to go!

  • @joannetan7803
    @joannetan7803 4 ปีที่แล้ว +20

    I actually hope my Econ teachers could be as fun as you are, easy to understand and easier to encourage students to raise questions.

  • @mumbamwamba2905
    @mumbamwamba2905 5 ปีที่แล้ว +3

    Hi Mr Clifford I played your videos every day during my 1 hour commute to work and I aced my Business Economics paper on my MBA. Thanks very much for making these videos

  • @Sirmissalot3112
    @Sirmissalot3112 4 ปีที่แล้ว +2

    YOU KNOW WHAT BUDDY YOU R THE BEST TEACHER ON YT WHENEVER I HAVE AN ECO EXAM I HEAD UP STRAIGHT TO THIS CHANNEL ..... YOU R THE BEST MAN...

  • @nafihanajeem9278
    @nafihanajeem9278 2 ปีที่แล้ว +4

    I'm facing the Econ test tomorrow,and I know nothing and I came through this TH-cam channel. He's doing a great job. I can assure a pass mark. Thank you for helping us!

  • @rikki1952
    @rikki1952 10 หลายเดือนก่อน

    Consider me SUBSCRIBED! I'm taking a compressed Economics course, painfully online, for my MBA and it was kicking my butt until I found your videos. I am forever indebted to you!!!

  • @junior_na1
    @junior_na1 2 ปีที่แล้ว +1

    Thank you Mr. Clifford your videos are appreciated, am a student all the way from Africa and your videos have helped me understand alot more and better and I always come back to them before an exam. Thank you, love all the way from Namibia.

  • @ericalutchman1605
    @ericalutchman1605 4 ปีที่แล้ว +3

    Honestly I just started studying economics. Never done it before and I start at tertiary level, pretty hard I know. I thought it would be difficult but after viewing and downloading most of the videos from this channel for the chapters we have covered at my university, I can confidently say that these videos have truly helped me improve my skills and broaden my knowledge

  • @sk8r757
    @sk8r757 5 ปีที่แล้ว

    Don’t ever comment on TH-cam videos but wanted to say thank you. Your videos helped me get a 100 on my micro final.

  • @Thoemodachi
    @Thoemodachi 5 ปีที่แล้ว +22

    Your videos are very easy to understand, and you make it so that learning Economics is actually fun! Thank you so much, and all the best for your TH-cam Channel!

  • @ADrunkenYoshi
    @ADrunkenYoshi 5 ปีที่แล้ว +34

    Anyone else still comes back here even though you not taking the class anymore lol I subscribed I think 3 years ago and I come back just because of how interesting this is and I'm an accounting major lmaoooo

  • @BrynnsAdventures
    @BrynnsAdventures 4 ปีที่แล้ว

    omg ur saving my life, i don't think i could pass my microecon without these videos

  • @BenZamzow
    @BenZamzow 5 ปีที่แล้ว +6

    This is great--often people confuse these elasticities or don't realize when one or the other applies e.g. price elasticity of demand versus income elasticity of demand often gets mixed up on exams--I make videos for my own students but send them here too!

  • @mugahedbaatiah4899
    @mugahedbaatiah4899 4 ปีที่แล้ว

    The best teacher in TH-cam. you are really a life saver. best of luck.

  • @opalmari6147
    @opalmari6147 5 ปีที่แล้ว +5

    Hey Mr Clifford, I just wanted to thank you so much for your videos. The fun and easy way you make the lessons makes me laugh, and helps me better understand the material.
    Thank you!

  • @wilsonchan5711
    @wilsonchan5711 ปีที่แล้ว

    This video was super helpful! It took me a second to realize that there are 4 different elasticities + you taught me a whole unit for my econ class thanks!

  • @kathaleenmelville4668
    @kathaleenmelville4668 3 ปีที่แล้ว +1

    Thank you for your videos! Taking Economics online has been a struggle, but your videos make it so much easier to understand.

  • @aceuploads1541
    @aceuploads1541 ปีที่แล้ว

    This man is a life saver! He just secured the bag for me

  • @hafla8886
    @hafla8886 3 ปีที่แล้ว +1

    Thank you very much Mr.Clifford your videos are awesome and very helpful.Indeed ur my first econ teacher obviously...coz u are my start.

  • @santanumishra6147
    @santanumishra6147 3 ปีที่แล้ว

    Thanks jacob for for clarifying my doubts.From now You are my favourite econ. teacher......cheers

  • @mariama6137
    @mariama6137 4 ปีที่แล้ว +1

    Thank you verry much for making these videos. It helps a lot especially in this difficult time where we are all homeschooled and not really motivated. ❤️

    • @sulenurcirit2425
      @sulenurcirit2425 4 ปีที่แล้ว

      ıf income elasticity is negative, that means this product is inferior good. so, ıf consumer income decrease, demand of consumers to buy this product will increase. so demand curve shift to the right.

  • @ericalutchman1605
    @ericalutchman1605 4 ปีที่แล้ว

    Mr Clifford you are one of the best. Learnt so much from your videos. Thank you for your content🌸

  • @ellieinspace
    @ellieinspace ปีที่แล้ว

    This editing is 🔥

  • @codingtheworld674
    @codingtheworld674 5 ปีที่แล้ว +2

    I enjoy watching your videos. SOOO happy for --I chose Management Engineering and I get your help to understand microeconomics in a easy way. Thank you

  • @KelleytinaVW
    @KelleytinaVW 3 ปีที่แล้ว

    I took AP Macro in high school and now taking Micro in college and wish I had you as a teacher it seems more simple

  • @KEdwardKhutswane
    @KEdwardKhutswane 3 หลายเดือนก่อน

    Thanks for ur service man writing an exam and i found ur videos just in time

  • @abrarfaiyaz3163
    @abrarfaiyaz3163 3 ปีที่แล้ว

    You've helped me so much till now. Thank you.

  • @yeemonaung6756
    @yeemonaung6756 4 หลายเดือนก่อน

    Thank you so much! I will try and study to become sophisticated in this field.

  • @tawheed1996
    @tawheed1996 5 ปีที่แล้ว +3

    Hello sir,
    Can you make a video about indifference curve analysis, and demand forecasting.
    Thank you for everything that you are doing for us . Best TH-cam channel around the globe

  • @noahsika-iw2bw
    @noahsika-iw2bw ปีที่แล้ว

    You're just doing the best. 🙋🙋🙋🙋

  • @PinuiPink
    @PinuiPink 4 ปีที่แล้ว

    Great outstanding teaching skills! The humor is perfect for people like me. I get to understand a lot

  • @ameera1171
    @ameera1171 5 ปีที่แล้ว +5

    Thank you so much Mr.Clifford

  • @fgr6397
    @fgr6397 4 ปีที่แล้ว

    I wish I had access to these videos when I was studying economics! Man you are good!!

  • @benuriwickramarathne5443
    @benuriwickramarathne5443 3 ปีที่แล้ว

    Thank you so much for all these amazing free resources!!!! Blessings from Sri Lanka

  • @mariasarwar2824
    @mariasarwar2824 2 ปีที่แล้ว

    I have an exam on micro 3 hrs later, I had no time to read a 98 pages chapter! Thanks for the video.

  • @aar8391
    @aar8391 5 ปีที่แล้ว

    اسطوووره يا جيكوب واللهي بليلة الاختبار نزلت الملخص😍

  • @arnavsharma-p8n
    @arnavsharma-p8n หลายเดือนก่อน

    Get this man to 1 millions subs.

  • @bashaieralarfaj2328
    @bashaieralarfaj2328 4 ปีที่แล้ว

    This video made my life easier THANK YOU!!!

  • @saad-tx9yw
    @saad-tx9yw 5 ปีที่แล้ว +6

    Tomorrow our exam thanks your on time

  • @ruthwikk.v6108
    @ruthwikk.v6108 5 ปีที่แล้ว +2

    You're the best man! Keep up the good work:)

  • @bobbyjoe90
    @bobbyjoe90 4 ปีที่แล้ว

    The real MVP of economics right here

  • @zethayn
    @zethayn 5 ปีที่แล้ว +2

    Just on time, thank you so so much! Your help's priceless.:)

  • @niveengameel4665
    @niveengameel4665 ปีที่แล้ว

    i swear you are the best

  • @abdullahbinsaad5872
    @abdullahbinsaad5872 5 ปีที่แล้ว +1

    ابو كليفرد يا عشقي والله جيت بوقتك ❤️❤️❤️❤️❤️❤️❤️❤️

  • @karlenezalkin8950
    @karlenezalkin8950 5 ปีที่แล้ว +1

    ur the best! thanks so much for your help.

  • @sophatt
    @sophatt 4 ปีที่แล้ว

    Thanks so much for all your work!

  • @radhamulani6994
    @radhamulani6994 3 ปีที่แล้ว +3

    Who binge watching his videos before the AP Micro test tmrw? Cause I definitely am LOL

  • @tatianacarrillosuarez8209
    @tatianacarrillosuarez8209 5 ปีที่แล้ว +4

    can you explain how to find the elasticity of demand at a certain point on the deman curve, please?

  • @ChloeNguyen-f2u
    @ChloeNguyen-f2u 3 หลายเดือนก่อน

    Ur the best ❤

  • @sherwinsabando7703
    @sherwinsabando7703 4 ปีที่แล้ว

    It helps me a lot!! Thankyou

  • @RickeeTalz-ju7zr
    @RickeeTalz-ju7zr 9 หลายเดือนก่อน

    U are amazing sir, thank you alot

  • @MrFriman
    @MrFriman 9 หลายเดือนก่อน

    you made me get an A last term now I im going to get another A this term, what would i do without u tysm

  • @a.s.2332-u1s
    @a.s.2332-u1s 4 ปีที่แล้ว

    I AM SO GRATEFUL!!!!! THANK YOU, NOW I UNDERSTOOD EVERYTHING! GOD SAVE’S YOU!!!

  • @ahsank.
    @ahsank. 5 ปีที่แล้ว +3

    I swear you're a Jojo reference in real life. Love your videos.

  • @emilynewton4539
    @emilynewton4539 4 ปีที่แล้ว +1

    You're the best!!! and the kazoo kid killed me every time lol

  • @marwarashed9038
    @marwarashed9038 5 ปีที่แล้ว +1

    you are the best

  • @charlievann2456
    @charlievann2456 ปีที่แล้ว +3

    Jacob Clifford is the 🐐

  • @hafsahkhalid3592
    @hafsahkhalid3592 3 ปีที่แล้ว

    Saved my life

  • @jiayisong5909
    @jiayisong5909 2 ปีที่แล้ว +1

    Hi! If the supply is perfectly inelastic, why does an increase in demand for that product cause an increase in price while the quantity stays the same? I couldn't understand this question from the ultimate review packet.

  • @mariama6137
    @mariama6137 4 ปีที่แล้ว +1

    Can anyone explain why it’s D for the last question please ? I dont get it 🙁

  • @Sustainabites-vo5nz
    @Sustainabites-vo5nz ปีที่แล้ว

    thanks!!!!!!! so easy!

  • @wisecarl712
    @wisecarl712 3 ปีที่แล้ว

    Much Love Jacob!

  • @刘佰鑫-y2b
    @刘佰鑫-y2b 5 ปีที่แล้ว +1

    I can’t download the pdf files from your website. It always says you already enrolled in this course. What should I do?

  • @seonwooyoon3141
    @seonwooyoon3141 4 ปีที่แล้ว +1

    could please someone explain why number 4 is D? I know it is a inferior good so should the demand curve shift to the left?

    • @salmanqaiser6918
      @salmanqaiser6918 4 ปีที่แล้ว +2

      No. Because decrease in income means, people will buy more of that inferior good. So it's income elasticity will move from -1.5 to say -3. i.e. it will become "more inferior" than it was before.

  • @nawaf4897
    @nawaf4897 5 ปีที่แล้ว

    الأسطورة جاكوب نزل المقطع في ليلة ميجرنا ❤️❤️

  • @shafiqhussain5706
    @shafiqhussain5706 5 ปีที่แล้ว

    excellent sir

  • @shaheer_ghazi
    @shaheer_ghazi ปีที่แล้ว +1

    Can someone explain question 2 6:45 to me please?

  • @gbrielle4445
    @gbrielle4445 2 ปีที่แล้ว

    THANK YOU SO MUCH!!!!!!!!!

  • @sarawax
    @sarawax 4 ปีที่แล้ว

    great job!

  • @americacastro2587
    @americacastro2587 3 ปีที่แล้ว

    thank for your help

  • @Dom-zx3lg
    @Dom-zx3lg 5 ปีที่แล้ว

    Hi Clifford
    Interested to hear your thoughts on Social Credit developed by Major Clifford Douglas.
    He was a contender of Keynes and was some what successful throughout the commonwealth.

  • @MaryChihana-bv8rh
    @MaryChihana-bv8rh ปีที่แล้ว

    Wow 😳 NYC I get it now

  • @frankewanmale4067
    @frankewanmale4067 5 ปีที่แล้ว +1

    Thanks

  • @layalesper4619
    @layalesper4619 5 ปีที่แล้ว

    PLEASE MAKE A VIDEO ABOUT "ENGEL CURVE" YOU ARE A LIFESAVER

  • @itssheyfr
    @itssheyfr 3 ปีที่แล้ว +1

    damn the sudden kazoo kid cameos had me off my seat crying laughing

  • @Lee-gm6cz
    @Lee-gm6cz 5 ปีที่แล้ว

    Can somebody explain to me why price elasticity changes from elastic to inelastic along a demand curve?

  • @jessiekrells
    @jessiekrells 3 ปีที่แล้ว

    Awesome

  • @TheMelanie04fol
    @TheMelanie04fol 5 ปีที่แล้ว +4

    Im citing u in my paper...hope I do that.right..

  • @yazminmoreno1787
    @yazminmoreno1787 4 ปีที่แล้ว

    WE LOVE YOU :D

  • @annagryd9335
    @annagryd9335 3 ปีที่แล้ว

    why is the answer to question 4d what is the rule behind this

  • @johnstaples5458
    @johnstaples5458 4 ปีที่แล้ว

    Is that gallon of milk shelf stable?

    • @johnstaples5458
      @johnstaples5458 4 ปีที่แล้ว

      and who are the seven people that didn't like this?

  • @williamdickes7600
    @williamdickes7600 4 ปีที่แล้ว

    the kazoo kid saying thanks at the very start killed me!!!

  • @isaacong
    @isaacong 4 ปีที่แล้ว

    Why is income elasticity of demand abbreviated as YED and not IED?

    • @oldmanneedsubscribers9256
      @oldmanneedsubscribers9256 4 ปีที่แล้ว +2

      Y is more commonly used for income throughout economics especially in macro, that why he used it.

  • @SafiullahKamgar
    @SafiullahKamgar ปีที่แล้ว

    Where is the practice paper

  • @marynguyen1748
    @marynguyen1748 ปีที่แล้ว

    Hi Mr Clifford
    Thank you very much for making great videos . English is my second language, please speak slower if you can.

  • @PopyJantul
    @PopyJantul หลายเดือนก่อน

    Man❤

  • @camigimenez429
    @camigimenez429 2 ปีที่แล้ว +1

    I freaking love u

  • @Quietone74
    @Quietone74 2 ปีที่แล้ว

    I can't tell you how disappointed I am that the answer key is not "ACDC" for every single one of these videos.

  • @ice9055
    @ice9055 5 ปีที่แล้ว

    Video idea: Is capitalism about exploiting the workers?

  • @sophiamohamed7763
    @sophiamohamed7763 5 ปีที่แล้ว +1

    how?

    • @JacobAClifford
      @JacobAClifford  5 ปีที่แล้ว +4

      Why is Gamora?

    • @dylanblack8670
      @dylanblack8670 5 ปีที่แล้ว +2

      @@JacobAClifford this is the best response

  • @shondalegalindo1
    @shondalegalindo1 ปีที่แล้ว

    I don't get why #4 is D

  • @henayaman3414
    @henayaman3414 3 ปีที่แล้ว

    thanks to your amazing filmmaking, i was able to now sell my 3 camels that i hadn't been able to sell for many months for thrice the price!!!! do you want me to gift you a camel???

  • @s7234
    @s7234 4 ปีที่แล้ว

    Lol, did anyone else notice that at 0:17 there was someone else's laughter lol

  • @james712
    @james712 3 ปีที่แล้ว +1

    This dude reminds me of Mark Cuban

  • @Mrchippyreal
    @Mrchippyreal หลายเดือนก่อน

    anybody here in 2024???

  • @mohamedturanardan8871
    @mohamedturanardan8871 4 ปีที่แล้ว

    Good. But too speed