In this video, I learned that scarcity, choice and opportunity cost are what set apart economics from other social sciences including anthropology and political science. The most significant feature of economics is opportunity cost, meaning the options we forego by making a choice. Economics also focuses on the assumption that consumers prioritize self-interest and optimizing utility. Consumers optimize their decisions by either maximizing a desirable good/service or minimizing an undesirable good/service. Consumers are making decisions at the margin - Imani Suitt

This video taught me the benefits that clusters can provide to both companies within the clusters as well as individuals working at said companies - Nathan Murphy

I like how you applied the idea of cluster development to real life examples, showing how it's utilized in actual businesses - Nathan Murphy

I learned about price floors and how they affect supply and demand when the government imposes price ceilings or floors.

The video taught me about the related dynamics of supply and demand, and how technological advancements have a significant impact on the growth of the computer market. It made clear that a variety of variables may function as shifters, changing the supply curve and affecting the quantity supplied at different price points. These variables included input costs, technology levels, and the number of vendors.

The point in a market where quantity provided and requested are equal is called equilibrium. The market is driven by supply and demand to return to its equilibrium level. Price swings can result from shifts in supply and demand, which can cause overflows or shortages. Comprehending ongoing swings in supply and demand aids in predicting variations in market prices and quantities.

I learned about supply ideas from this video. The cost of natural resources, consumer demand, and product costs are some of the factors that affect how supply changes. High prices are usually the result of an excess supply against demand. On the other hand, limited supply and high demand suggest generally cheap pricing.

All these real life examples of shared value demonstrated how important it can be to a businesses competitive advantage - Nathan Murphy

Hearing about how investing not just in the "important" stakeholders (customers & owners) but others can possibly benefit companies wasn't something I've considered - Nathan Murphy

This video provided me with a explanation of demand shifters and their role in microeconomics. These are important factors that have the ability to completely change the demand curve for a good or service. Individuals are able to react to market developments by understanding and evaluating these changes and making informed decisions.

I learned the law of demand, which says that quantity demanded increases when price decreases and decreases when price increases.

After watching this video, I've learned of the different type of Public Funding Sources. Also, that grants have conditions where if you make a certain amount of money you would pay the grant back. -Javarous Mayes

I now have a better understanding of the strategies the government use to encourage public private funding. -Javarous Mayes

After watching this video, I learned that the government gives entrepreneurs money to promote new jobs & business which will generate more tax revenue. -Javarous Mayes

I gained knowledge of markets from this video. Markets are by definition the establishments that connect buyers and sellers. We operate in a number of markets locally in America and internationally.

This video taught me the important of a cluster. A cluster is a geographical approximate group of interconnected companies and institutions that have both commonalities & complementary. I've also learned about the decline of clusters and the dynamics. Clusters create social norms within the business to reduce opportunity cost. -Javarous Mayes

Cool Intro! Looking forward to the playlist -Javarous Mayes

I learned the different ways of encouraging public private fundings. ~Ayesha Imam

I learned: governments give money to entrepreneurs to get the grassroots developed because investing in new entrepreneurs or their startups means they will hire people, and thats going to bring in a good tax revenue. ~Ayesha Imam

This topic was abit hard to understand but good playlist. I would love the videos to have more brief information, and more examples. ~Ayesha Imam

I learned the formula/math used to calculate the Hurdle. ~Ayesha Imam

Introduction to Public Sources of Funding ~Ayesha Imam

Thank your for the review, it was a great refresher - DeOndree Roberts

Alignment of Interests: The legal structure is designed to align the interests of GPs and LPs, ensuring that both parties benefit from the fund's success. Risk Management: Limited liability for LPs protects their investments, while GPs' commitment to the fund's performance encourages diligent management. Regulatory Compliance: Adhering to legal and regulatory standards is essential for the legitimacy and smooth operation of the fund. Transparency and Governance: Clear agreements and regular communication foster trust and effective governance between GPs and LPs. ~Ayesha Imam

Fund Managers and Investors: VC fund managers earn through management fees and carried interest (a share of the profits). The slides also cover the legal structure of a VC fund and how it affects the distribution of returns. Investors in VC funds need to evaluate track records, team strength, fund strategy, and market opportunities. ~Ayesha Imam

I learned : The VC process follows a cycle that involves fundraising, investing, monitoring the portfolio, adding value, and finally exiting investments. Fundraising often locks money for up to 10 years, with stages of investment. Returns vary across asset classes and years, with VC providing diversity to portfolios and offering the potential for double-digit returns ~Ayesha Imam

I learned the difference between venture capital and Private Equity. venture capitals: Startups, which have new ideas, tech, telecom, Media, Biotech etc. related with at least a market growth of 50-60%. Private Equity: In growth and buyout phase, traditional business or consumer goods, low or GNP. 20-40% Annually ~Ayesha Imam

Introduction to the Basics of Venture Capital, Private Equity, and Corporate Venture Capital ~Ayesha Imam

I learnt customer segment is the targeted audience of the business. -Ansana Regmi

I realized business model canvas is our tool to tell our story to other people. -Ansana Regmi

I learned how business model canvas can be used to explore business ideas. -Ansana Regmi

I am excited to learn more about the business model canvas. -Ansana Regmi

This review was very helpful, thank you! - Brianna Elibo-Mendez

In the text and video, market failures can be defined as failure of private decisions in the marketplace to achieve an efficient allocation of scare resources. - Brianna Elibo-Mendez

I enjoyed learning about the efficienct condition of equilibrium, thank you! - Brianna Elibo-Mendez

I learned that the key way to maximize benefits and profit by producing what consumers want the most efficient way possible. - Brianna Elibo-Mendez

This video gave a nice recap of what we have learned so for and an introduction of key concepts that'll be focused on in the chapter such as maximization and marginal decision-making. - Brianna Elibo-Mendez

Hey Dr.Pelly thank you for making these videos for us - DeOndree Roberts

My takeaway would be Entrepreneurship is the study of the exploitation of available opportunities - Divine Faleye

I think what I'm getting is that when one turns a non-income generating venture to an income-generating one, by adding other activities, and funneling the success of one to the others, that is multi-layered labor, and when one becomes proficient at doing all these things, therein lies the entrepreneurship. ~ Frank N.

Participant Observation seems like a very surefire way to get firsthand and indepth knowledge into the workings of other people, maybe to be mentored by them, or to write an article on them, like Dumont does. ~ Frank N.

I'm curious to hear more examples about multi layered labor and multi tasking, because from the way I understand it, there's some juxtaposition between to two. I assume that multi layered labor is creating an income stream /multiple income streams from avenues that probably would not be an income stream otherwise, while multitasking would be performing two or more jobs that make money separately? ~ Frank N.

Excited to learn more about multi-layered labor. ~ Frank N.

I like the proposition that likened the repeat nature of effectuation to venture capital funding because it's something that I relate to a bit. I wonder, though, if the average Joe, Joanna or Joenette would have enough resources to service a business plan failing over and over again. ~ Frank N.

I love a good sprinkle of philosophy in the flow. Very interesting to conceptualize the house example in different scenarios and play around with definitions and concepts. ~ Frank N.

I like the intersection of effectuation with other concepts and management theories. It makes the concept more robust, and easier to understand and conceptualize. ~ Frank N.

Uncertainty is right up my alley because I like to think of creative ways to flip the script and think outside the box, and it's interesting to see this concept in business as well. ~ Frank N.

The intersection between causation and effectuation as you've put it in the video is quote interesting, because, it's possible for the curry example to have underwent causation, and it's possible for the U-Haul example to have underwent effectuation. What this tells me is that the two concepts are not mutually exclusive, and that they can be intertwined with each other. ~ Frank N.

Very interesting to explore the parallels between causation and effectuation, and how they are both implemented in business. I would assume that a good number of people would favor causation when going into business, because there's a bit more structure. Curious to do some research to explore this further. ~ Frank N.

I learned that specialized is the industry you want to be in because it produces higher profitability. -Courtney Lumpkins