in turkish language there is a saying that goes like ''if i were to make your statue, there would not be enough concrete for your balls'' you are amazing sir!
How can we assume the motive for a command economy is to maximise welfare, but when it comes to having a variety of choice consumers have a low variety? Does this low variety not mean people have lower living standards from not having access to more material possessions thus lower social welfare?
I don't get the last bit with monoplies doesn't Command economies monopolise the whole market as all goods and services are provided by the government?
Yes, the State IS the monopoly in a market economy. A big criticism of market economies is that a monopoly might be formed, but it is a necessity in a command economy.
Could you argue that in a command economy the government becomes a quasi monopoly except being profit maximisers they are welfare maximisers but use the same techniques as a monopoly.
I'd say mixed too. Their branding is all about capitalism which is true but the gov heavily subsidises a lot of industries too and has Medicaid and Medicare, and also has progressive federal income tax system. Also, before 2017, the federal corporate tax was 35% which is pretty bloody high - it was higher than countries like China, Germany, and France.
What you taught in 10min my school took 3 lessons. THANK YOU!
+mat drav = 50 * 3 = 150 min = 2 hrs 30 min!!!
lmao ur username is class
That snap at 7:30 helped me get my life together
this is amazing! one table with everything in it. covered all 3 spec points I was looking for!
in turkish language there is a saying that goes like ''if i were to make your statue, there would not be enough concrete for your balls'' you are amazing sir!
then just tell him to put on shorts
@@mazinbhagwanee2972 I have no idea what that saying is but the comeback *TOP NOTCH*
Best Econ TH-camr and teacher out there.
amasing I am new to economics and commerce as a whole my friend suggest your channel AWESOME!
I love you
I love this. Considering today's climate, it's nice to see a neutral comparison between the two.
Our teacher suggested us to be watching your videos, you are the best sir
Amazing, I love ur accent. Really useful table. I can use it for my IGCSE 8 marks evaluation question. Thanku sooooo much....
Smashed it Dal, Thanks!
How can we assume the motive for a command economy is to maximise welfare, but when it comes to having a variety of choice consumers have a low variety? Does this low variety not mean people have lower living standards from not having access to more material possessions thus lower social welfare?
Db Rk Absolutely - a good evaluative point right there
so helpful. thank you so much
I don't get the last bit with monoplies doesn't Command economies monopolise the whole market as all goods and services are provided by the government?
Yes, the State IS the monopoly in a market economy. A big criticism of market economies is that a monopoly might be formed, but it is a necessity in a command economy.
@@Dehydratedpencilbit late. 4 years
@@Henry-xu5jg He asked a question, I answered it. Your comment adds no value to the conversation
@@Dehydratedpencil well damn
@Dehydratedpencilwell ur response helped me a year later
how is that green marker producing blue ink-
I hope you would release a video for transition econ. This table sums up several lessons in class, really:))
This can be used in nationalisation and privatisation for year 2 right?
Many thanks.
Is free market economy and market economy the same thing?
Yes I’m pretty sure it is
I love u so much ur amazing
What about transition economies?
Could you argue that in a command economy the government becomes a quasi monopoly except being profit maximisers they are welfare maximisers but use the same techniques as a monopoly.
Can you do a video on problemd faced by transition economies
Why do you think that command economy is less likely to suffer from market failures?
Kaede Knipe Because there is no market to fail.
lol there is no competiton out there in command economy because the goverment is the market admin ..look at the state of north korea
Would you say that your videos encompass all the AS exam boards as a complementary form of revision? As they seem to really go well with OCR!
Dhairya Kapadia All this material is relevant for every exam board. They haven't been made with any one in mind
+EconplusDal so this in OCR?
+danny garcia Yes. But it's relevant to every exam board
Rhea Jain safe
thank you soooooooooooooooooooo muchhhhhhhhhhhhhh
Can u pls give the pdf of this chapter
Id say America is mixed . Thoughts?
its not completely free market bc thats almost impossible.However it's very free market through low tax, no welfare, no free health care etc
I'd say mixed too. Their branding is all about capitalism which is true but the gov heavily subsidises a lot of industries too and has Medicaid and Medicare, and also has progressive federal income tax system. Also, before 2017, the federal corporate tax was 35% which is pretty bloody high - it was higher than countries like China, Germany, and France.
My man thought us in 11 min while school takes weeks
I love u
vikkstar123