Microeconomics Unit 1 COMPLETE Summary - Economic Thinking

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  • เผยแพร่เมื่อ 8 พ.ย. 2024

ความคิดเห็น • 157

  • @sonikanallapu1481
    @sonikanallapu1481 3 ปีที่แล้ว +72

    cramming the day before the ap exam :)

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว +4

      Good luck on the exam!

    • @Coal-RubL
      @Coal-RubL ปีที่แล้ว

      This > crash course

    • @raashiatwani269
      @raashiatwani269 9 หลายเดือนก่อน +1

      Same

    • @ReviewEcon
      @ReviewEcon  9 หลายเดือนก่อน +1

      @raashiatwani269 good luck to you too!

  • @saruul2618
    @saruul2618 3 ปีที่แล้ว +61

    Thx, a lot. You are clearly underrated but you provide more indebt information than others I've watched. Your concepts are more current and you don't leave out anything. You also provided free practice content unlike others. Keep up the good work, and i will also continue my studies!

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว +8

      Thank you very much for the kind words!
      Good luck with your exams!

    • @AggreySakwa
      @AggreySakwa 2 ปีที่แล้ว +2

      I'm very proud of you. Go.....goooo

    • @lilgrey8363
      @lilgrey8363 ปีที่แล้ว +3

      bro said “indebt” 💀

  • @pedropinheirokarate9537
    @pedropinheirokarate9537 6 หลายเดือนก่อน +65

    Who is here the day before the exam?

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน +4

      Me! 😅
      Good luck tomorrow!

    • @belaalviz6502
      @belaalviz6502 6 หลายเดือนก่อน +7

      yeah i might be cooked

    • @chicagolanddesigns6447
      @chicagolanddesigns6447 6 หลายเดือนก่อน

      @@belaalviz6502same here

    • @cjstacruz4523
      @cjstacruz4523 หลายเดือนก่อน

      😂

  • @aroujekld
    @aroujekld 2 ปีที่แล้ว +14

    Those input and output opportunity cost formulas actually saved my life!! Thank you so much for being an econ teacher whose explanations make sense!!!

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว +2

      Awesome! I'm glad my explanations and formulas worked for you!

  • @Cici-y6i
    @Cici-y6i 9 หลายเดือนก่อน +2

    i watched your videos for ap exam and now back for college econ class, thanks you for making those great videos

    • @ReviewEcon
      @ReviewEcon  9 หลายเดือนก่อน

      You're very welcome! Good luck with the new class!

  • @miketran5328
    @miketran5328 10 หลายเดือนก่อน +5

    Thanks for the review! I hope I do well on my Unit 1 test tomorrow!!

    • @ReviewEcon
      @ReviewEcon  9 หลายเดือนก่อน

      I hope that test went well! 🤞🤞🤞😄

  • @iceesky
    @iceesky 2 ปีที่แล้ว +9

    You're one of the reasons I got a surprisingly high grade for macroeconomics last semester. I now have microeconomics and I'll definitely watch your vids for this topic too :D

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว +2

      Awesome! I am so glad my videos helped.
      Good luck with Micro!

    • @stacia6678
      @stacia6678 10 หลายเดือนก่อน

      OH MY GOD SOMEONE ELSE WITH THE SAME PFP :))) :00000

  • @MarisaAvilla
    @MarisaAvilla 3 หลายเดือนก่อน +2

    Out of all the microeconomics videos I have been watching and I have been watching a lot, I think your videos make the most sense to me!!

    • @ReviewEcon
      @ReviewEcon  3 หลายเดือนก่อน

      Awesome! Good luck with your studies! 😄

  • @abstraction6266
    @abstraction6266 6 หลายเดือนก่อน +1

    First, I would like to thank you for your efforts and the free and absolutely useful content you provide us. Secondly, I wanted to ask if you can help me with this question, it is an official question from AP classroom:
    A production possibilities curve can shift inward
    if there is
    (A) an increase in productivity
    (B) an increase in unemployment
    (C) an increase in the price of raw materials
    (D) a misallocation of resources
    (E) a natural disaster
    Arent B , D, E , all correct answer choices!? I memorized the mnemonic "DUN" to memorize that. I am confused how E is the correct answer

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน

      I don't know the DUN mnemonic, but unemployment won't shift the curve inwards because the PPC is the maximum possible production with all resources being used. Unemployment means the point of production moves inwards (actual production decreases but possible production doesn't change). But the curve doesn't shift because the unemployed workers COULD produce. They just aren't producing because. Misallocation also doesn't change possible production just actual production.
      The curved moves from changes in the quality or quantity of resources.
      I cover the PPC more completely here:
      th-cam.com/video/GHirhn_P2vg/w-d-xo.htmlsi=iF4sBIjhXnu7_Tes

    • @abstraction6266
      @abstraction6266 6 หลายเดือนก่อน

      @@ReviewEcon Omg thanks so much for taking the time and answering me. I am really grateful and got the point. Thanks again!

  • @mariaa8659
    @mariaa8659 6 หลายเดือนก่อน +1

    Thank you so much for your videos! I love the free games too. I had to miss out on a whole semester of college due to having a baby so I'm hoping to pass the CLEP exam to get the missing credits quick. My exam is in two days and I gave myself a little over a week to study. Your videos help a lot, love your calm demeanor.

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน

      I'm so glad you have found my videos helpful! Good luck on your exam!

  • @MarisaAvilla
    @MarisaAvilla 3 หลายเดือนก่อน +1

    I really appreciate your help!! I do not think I would still be in my class if it was not for your videos.

    • @ReviewEcon
      @ReviewEcon  3 หลายเดือนก่อน

      I'm happy to help! Good luck on your exams!

  • @azamatshazhiyayev4267
    @azamatshazhiyayev4267 2 ปีที่แล้ว +3

    you are the best, bro! college board videos do not help as much as your videos. message from Kazakhstan.

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว +1

      Awesome! I'm so glad my videos are helping.
      Good luck with your exams!

  • @eliffoktemm
    @eliffoktemm 6 หลายเดือนก่อน +1

    I cannot explain how much this helped me. Thank you A LOT!! ❤

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน

      I'm so glad! Good luck on your exams!

  • @sarankannan6871
    @sarankannan6871 3 ปีที่แล้ว +8

    Budget Jacob Clifford but WAYYYY better. thanks for the great video!

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว

      That is very kind. Thank you!

    • @singingLeaf123
      @singingLeaf123 3 ปีที่แล้ว

      @@ReviewEcon You are the best. You are a god. OG

  • @abshirmohamed1272
    @abshirmohamed1272 3 ปีที่แล้ว +2

    i actually understood everything you said. the way you explained everything was easy and nice. thank you sir.

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว

      You're very welcome!

  • @Vaten0x
    @Vaten0x 3 ปีที่แล้ว +13

    Subscribed, please keep up with these amazing works :) It's crazy man. When I get a 3 or 4, I'll surely response a bunch of thanks again.

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว

      Good luck on the exam! You got this!

  • @AtomicSquid5433
    @AtomicSquid5433 ปีที่แล้ว +3

    I feel dumb, I keep coming back. I've watched this like 10 times already =-=
    You did a great job, I just keep forgetting some of the basics.😅

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว +2

      You aren't alone. Economics is so different from other classes, it's difficult to remember it all!
      Good luck on your exams!

  • @lyn.leavespetals1926
    @lyn.leavespetals1926 3 ปีที่แล้ว +2

    Omg!! You are brilliant! Explanations are simple and easy to understand. So helpful for some of us new to this.

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว

      Thank you! I'm so glad my video helped! Good luck with the year. 😀

  • @ComB4tZ
    @ComB4tZ 6 หลายเดือนก่อน +1

    Outstanding teaching sir! This would help me ace my exams

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน

      Good luck!

  • @virginiajelimo4682
    @virginiajelimo4682 ปีที่แล้ว +1

    Am lost with the opportunity cost. Will come back and go through it again. Thank you

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว +1

      It can be tricky. My advice is to focus on the choice. Opportunity costs are the explicit and implicit costs of a choice added together.
      Good luck with your studies!

    • @virginiajelimo4682
      @virginiajelimo4682 ปีที่แล้ว +1

      @@ReviewEcon thank you sir

  • @angeangela-y6d
    @angeangela-y6d ปีที่แล้ว +2

    thank you for all the review videos for macro and micro! really coming in clutch when studying for the ap exams

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว +2

      You're very welcome! Good luck tomorrow!

    • @angeangela-y6d
      @angeangela-y6d ปีที่แล้ว +2

      @@ReviewEcon thanks! yea i crammed for macro yesterday, and now cramming for micro today 😂

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว +1

      Good luck tomorrow as well!

  • @alecsn1087
    @alecsn1087 2 ปีที่แล้ว +1

    Thank you for making these videos! They are helping me succeed in my class

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว

      You're very welcome! Good luck on your exams!

  • @saraabdii9268
    @saraabdii9268 3 ปีที่แล้ว +3

    Thank you for teaching more than my prof!

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว

      You're very welcome! Good luck with your exams!

  • @DokbaaiDhalbeny
    @DokbaaiDhalbeny ปีที่แล้ว +2

    Your lecture here is the best. Keep going

  • @Senpai_Kunn
    @Senpai_Kunn 2 หลายเดือนก่อน +1

    Its been two weeks in my class and i got a 5/7 on my first quiz and still have a hard time. I don’t wanna say its my teacher fault but at the same time he doesn’t go into detail with the unit , so thank u for this!!!

    • @ReviewEcon
      @ReviewEcon  2 หลายเดือนก่อน

      I wish you the very best of luck on the next quiz! You got this! 😄

  • @myplace571
    @myplace571 ปีที่แล้ว +1

    Hello, i might be mistaken but i recently finished unit 1. I stuided it through khan academy and this video condridicts what i learned about fidning opportunity cost. arent the values supposed to be the opposite? for example: 1 Break job from amy is 6 not 1/6. according to what i learned.

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว +1

      You have the fraction flipped because this is an input question. Hours of labor are an input. Remember it takes Amy 1 hour to do a break job and 6 hours to paint a car. Since it takes her six times as long to paint a car then do a brake job she cannot be losing 6 Painted cars every time she does a brake job. The math here is the it over formula for inputs. The opportunity cost of brake jobs is the number we have for brake jobs divided by the number we have for a painted car, which is 1/6.
      If this was an output question then it would be 6.
      I hope that helps! Good luck with your studies!

    • @myplace571
      @myplace571 ปีที่แล้ว +1

      Oh thank you so so much for replying. This clears everything for me, i guess i didnt understand inputs and outputs before. Thank you again !!@@ReviewEcon

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      You're very welcome!

  • @jas-ox2bb
    @jas-ox2bb 6 หลายเดือนก่อน +4

    i wish everyone who is watching this and taking the exam the best of luck

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน

      🤘😎
      Yes! No mercy for that exam tomorrow!

  • @kamilmohamet3152
    @kamilmohamet3152 ปีที่แล้ว +1

    Great summary and explanation. Thank you for the effort

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      You're very welcome! Good luck on your exams!

  • @saharahmad8523
    @saharahmad8523 2 ปีที่แล้ว +2

    great video i love that you explain at a slow pace so its easy to follow!

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว

      I'm glad you like it! I go a bit faster in future units, but feel free to slow me down with the TH-cam speed settings. 😀

  • @jemaicacortez6088
    @jemaicacortez6088 3 ปีที่แล้ว +1

    Oh wow thank you for this video. Really helps me a lot for my major subject 😊😊

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว +1

      You're very welcome!

  • @RislanAl-Kasih7
    @RislanAl-Kasih7 7 วันที่ผ่านมา +1

    nice video i learned so much

    • @ReviewEcon
      @ReviewEcon  7 วันที่ผ่านมา

      Thank you! Good luck with your studies!

  • @aawesome8119
    @aawesome8119 2 ปีที่แล้ว +2

    Actual legend, thank you! I'm currently preparing for the AP Micro exam on Friday this week and you are sure to be a big help. I'm going to watch every video in this playlist

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว

      You're very welcome!
      Good luck on your exams!!

    • @NasserSaleh-i8r
      @NasserSaleh-i8r ปีที่แล้ว +1

      any tips for the AP micro

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      I would suggest you do some practice MC and see if you can identify where you are struggling. Prioritize those topics.
      Also make sure you practice drawing all the graphs. See reviewecon.com for lots of practice games including graph drawing practice drills.
      Good luck!

  • @carolinedosreis8420
    @carolinedosreis8420 วันที่ผ่านมา +1

    I would like to update you that is working now. You should receive my PayPal payment soon. Thanks again, I love your channel!

    • @ReviewEcon
      @ReviewEcon  วันที่ผ่านมา

      I see it. Please let me know if you have trouble accessing! Thank you for your support!

  • @aidenmann6190
    @aidenmann6190 ปีที่แล้ว +2

    Thanks!

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      You're very welcome!

  • @kezmenflowers8691
    @kezmenflowers8691 21 วันที่ผ่านมา +1

    It's all the math you have to remember that gets me

    • @ReviewEcon
      @ReviewEcon  21 วันที่ผ่านมา

      Definitely tricky!
      Here is a video that focuses on the math (divided by unit). th-cam.com/video/r0wVzgtYCzY/w-d-xo.htmlsi=l5LILumZM8Qq-L4A
      Good luck!

  • @PatriciaAmoah-wu5no
    @PatriciaAmoah-wu5no 6 หลายเดือนก่อน +1

    Thank you for making this video

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน

      You're very welcome! Good luck on your exams!

  • @ilikechips2596
    @ilikechips2596 6 หลายเดือนก่อน +1

    i think 16:12, for Henry, 1 T Zucchini should be 5/3 T Strawberries, not 2/3

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน

      You are correct. Check that again though. It actually says 1 2/3, and that is equal to 5/3. 😄
      So we're on the same page!
      Good luck on your exam!

    • @ilikechips2596
      @ilikechips2596 6 หลายเดือนก่อน +1

      @@ReviewEcon oh my bad, thanks for the clarification!

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน

      @ilikechips2596 no worries! Easy mistake to make.

  • @evelynchaambwa1866
    @evelynchaambwa1866 ปีที่แล้ว +1

    Thank u so much u r the best

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      You're very welcome!!

  • @Coal-RubL
    @Coal-RubL ปีที่แล้ว +1

    Its honestly ridiculous how much better this shit is than crash course

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      I'm glad you liked it! Good luck with your studies!

  • @sahitihibane
    @sahitihibane 3 ปีที่แล้ว +1

    Your videos are really helpful. Thank you so much!

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว

      Awesome! Your are very welcome!

  • @haseenamoulana228
    @haseenamoulana228 8 หลายเดือนก่อน +1

    I dont see the link in d comments?,but loved ur teaching ❤

    • @ReviewEcon
      @ReviewEcon  8 หลายเดือนก่อน

      It's actually in the description. 😅
      Thank you!

  • @bobbyhe8090
    @bobbyhe8090 3 ปีที่แล้ว +1

    Thank you, sir, your video is really helpful.

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว

      You're welcome! Good luck with your exams!

  • @無題6376
    @無題6376 ปีที่แล้ว +1

    cramming everything before AP Exam 05-04-23.

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      Good luck tomorrow!!

  • @dillonroberts4904
    @dillonroberts4904 4 ปีที่แล้ว +3

    great video! keep up the good work 👍

    • @ReviewEcon
      @ReviewEcon  4 ปีที่แล้ว

      Thank you for the kind words! I will keep working! :-)

  • @samrudhghanta1848
    @samrudhghanta1848 6 หลายเดือนก่อน +1

    thank you so much! i just wish i discovered ur vids earlier lol

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน +1

      Better late than never! Good luck! 😄

  • @mukumms4010
    @mukumms4010 2 ปีที่แล้ว +1

    Basic topics but very useful

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว

      Yes! We start with the basics in unit 1.
      Thank you!

  • @milikamumba3717
    @milikamumba3717 3 ปีที่แล้ว +1

    Thanks a lot.

  • @tawongaosman8576
    @tawongaosman8576 ปีที่แล้ว +1

    Thanks alot

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      You're very welcome!

  • @SoundousRiali
    @SoundousRiali หลายเดือนก่อน +1

    Omggg thyy u helped me to much❤

    • @ReviewEcon
      @ReviewEcon  หลายเดือนก่อน

      You're very welcome! Good luck with your studies!

  • @madison-mj6ne
    @madison-mj6ne ปีที่แล้ว +2

    cramming 2 days before 😍😍

  • @Leoargentin
    @Leoargentin ปีที่แล้ว +1

    Sir thanks for help 🙏🏼

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว +1

      You're very welcome! Good luck on your exams!

    • @Leoargentin
      @Leoargentin ปีที่แล้ว +1

      Thanks you so much once again.

  • @verberaunt
    @verberaunt 3 ปีที่แล้ว +1

    Thank you so much!

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว

      You're very welcome!

  • @julianallan8270
    @julianallan8270 2 ปีที่แล้ว +2

    Why does 1.5 come before 1.3 and 1.4???

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว

      The numbers are the topics as laid out by the College Board CED. I put them in the order I think makes most sense for the video. 😀

    • @julianallan8270
      @julianallan8270 2 ปีที่แล้ว +1

      @@ReviewEcon Thank you for your thoughtfulness

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว

      You're welcome!

  • @KeliKatheya
    @KeliKatheya ปีที่แล้ว +1

    Awesome

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      Thank you for watching!

  • @carolinedosreis8420
    @carolinedosreis8420 วันที่ผ่านมา

    I tried to buy the total review on your website, but after paying, there was no link to download the material or any information about how to download it :(, so I canceled the purchase :(

    • @ReviewEcon
      @ReviewEcon  วันที่ผ่านมา +1

      I attempted to resend you the downloaded information twice via email. I don't know why you never got them. I am sorry you weren't able to receive it! I see that you have already gotten your refund.
      I wish you luck!

    • @carolinedosreis8420
      @carolinedosreis8420 วันที่ผ่านมา

      @@ReviewEcon Thank you for your prompt answer. I really like the content of your channel. I will check if there are any problems with my email and buy it again. Thanks

  • @NolwaziChonco-l4s
    @NolwaziChonco-l4s ปีที่แล้ว +1

    ❤best ever😊

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      Aw! Thank you!
      Good luck with your exams!

  • @aronhaile6464
    @aronhaile6464 หลายเดือนก่อน +1

    ❤❤❤👌

    • @ReviewEcon
      @ReviewEcon  หลายเดือนก่อน

      Thank you! 😄

  • @Kyle00112233
    @Kyle00112233 3 ปีที่แล้ว +1

    He never moves his right arm... I wonder if he injured it in the war?

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว +1

      😂 nope, no injury. Just holding the clicker so I know what's coming next.

  • @bjbunjk440
    @bjbunjk440 2 ปีที่แล้ว +1

    i love you

    • @ReviewEcon
      @ReviewEcon  2 ปีที่แล้ว

      As much as I love Econ!?😅

  • @isiahcurry1593
    @isiahcurry1593 9 หลายเดือนก่อน +1

    Yeah I’m glad I dropped college. Not for me.

    • @ReviewEcon
      @ReviewEcon  9 หลายเดือนก่อน

      😢
      Good luck moving forward! You'll be using econ your whole life whether you know it or not! 😉

  • @LoveVanillaRose
    @LoveVanillaRose 3 ปีที่แล้ว

    Scarcity is a lie. We live in an abundant world.

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว +2

      While I understand your point, I have to disagree.
      Even if there are enough resources to satisfy everyone's needs of food, clothing, and shelter. Scarcity means they're aren't enough resources to satisfy everyone's wants, and considering how much so many humans want, it's clear to me scarcity is inescapable.

    • @LoveVanillaRose
      @LoveVanillaRose 3 ปีที่แล้ว

      @@ReviewEcon Humans in control impose false scarcity on those who don't understand.

    • @ReviewEcon
      @ReviewEcon  3 ปีที่แล้ว +1

      I certainly agree that some people in power have made the problems of scarcity worse for others.

  • @nicknames5325
    @nicknames5325 6 หลายเดือนก่อน

    Those tests are so lame and all that nonsense as welI. I know people not graduating H.S and do better financially than those who graduated from college having major in economics. LMAO. No wonder people don’t know what to do with money these days, hahaha.

    • @ReviewEcon
      @ReviewEcon  6 หลายเดือนก่อน +1

      Those people certainly exist, but economics majors do quite well on average.
      But everyone gets to live their own lives. I wish you good luck!

  • @DokbaaiDhalbeny
    @DokbaaiDhalbeny ปีที่แล้ว

    Send the link to my email because the below here doesn't work out

    • @ReviewEcon
      @ReviewEcon  ปีที่แล้ว

      Not sure what link you're referring to and I don't have your email address. 🤷‍♂️

  • @SalihaSultanova
    @SalihaSultanova 11 หลายเดือนก่อน +1

    Thank you so much!

    • @ReviewEcon
      @ReviewEcon  11 หลายเดือนก่อน

      You're very welcome! Good luck on your exams!