AS-Level Economics - Video 9: Price Elasticity of Demand (PED)

Video 9 out of 50 covering AS-Level Economics. This video covers the essential microeconomics concept of Price Elasticity of Demand

[@bradleywilliams2610]

Paj is a merit good

[@rheajain9061]

+Bradley Williams aha best comment by far! :)))

[@cottoncandyflossful]

So today I missed college because I was sick and the first thing that came to mind is to watch your video to catch up. Thank you for taking time to film all these! Wish that u are my teacher. Sending lots of love from Malaysia.

[@syedeusoffaljunid4757]

Wooooooo Malaysia! same here man. What University/collge are you in?

[@michellelaw5334]

From msia too😂

[@123snooky321]

I love the motivation, "Because you're an economist" 22:20

[@lolly0758]

I know it's 2017 and I am watching this video but can I say Sir your incredible! Thankyou for your work, you don't owe us students anything but you took your time to make these videos and they are amazing and help us so much! Thankyou!

[@liampenny9077]

Mr Holden, you sir are a top don. Thank you.

[@etiendemharry-cliffn9997]

This is amazing. I am really filled with knowledge after watching this video.

[@melainekamdem8534]

Thank you sir, am grateful for what you do for a student like me it really helps me especially when i dont understand in class. God bless you thank you

[@zombiespaz1]

I'm currently studying AS economics and i struggle a great deal with the maths side of things, but understand the theory most of the time; thankyou so much for creating these videos it really has helped me a great deal :)

[@DanCave]

Interesting

[@DanCave]

Can you name five items where price elasticity of demand are not affected grately?

[@zombiespaz1]

If you mean services or products which are inelastic then: electricity services, petrol, milk, water, toilet paper. These are necessary to everyday life. Therefore elasticity doesn't occur in price...I think that's right

[@MissAsh987]

I love your videos, learn more from your videos than I do in my lesson

[@taufiqzainudin9154]

Thank you so much this saved me because I missed the important lessons on this topic. God bless you

[@sydvertigan3937]

Wish you were my teacher! Thanks for this video!! :)

[@levicissijuice]

this is really extremely helpful! thank you so much!! best teacher ever!

[@manchunwong3403]

thx so much , your explanation was simple. I really enjoy the way how you apply the concept to reality

[@sumeshinnaicker2626]

Its now 2022 and this video still helped a lot!

[@KwikTele]

Such a good video on a key part of economics

[@fernandaverdon-roe338]

this is simply the best thing for revision, thank youuuuuu

[@prasadaniewelgama6178]

Sir, ur conclusion was great

[@hazeljanestronach3051]

thank you this really helped, and especially for the tip at the end as I always say the good and not the demand for the good :D

[@michelsamuel1005]

You're the man...wish you was my teacher

[@emilynstevenson3152]

you my friend are saving my ass for my econ mid term tommorow. I thank you dearly

[@chikineeter]

I wish I could shake your hand

[@benedictfung3934]

LOL

[@JellyBabesXo1]

Great vid I'm hoping you could do some exam practice very specific such as OCR

[@NatStam1845]

Thank you so much, this has helped me so much!

[@wardvandijck1963]

Is it possible to make an estimate about the demand being elastic or in-elastic when there is given that the quantity demanded drops and therefore the price rises? ( so the opposite way). And is a fast drop in quantity demanded equal to a big drop in quantity demanded ?( so an elastic demand) thanks for your answer!

[@CombatTriangle]

Awesome video!

[@Arr96Bee]

darn it, I take my AS Economics exam during the October/November exam period. WHY COULDN'T YOU HAVE MADE THIS SERIES SOONER ?! :(

[@atiaauzim1234]

nice explanation

[@shaanahmed1668]

Isn't Demand for Coffee elastic since it's substitute is tea?

[@GiulioGraziano]

Good job, thank you so much !

[@MrBoliao98]

I'm struggling with A level economics, thanks for the help

[@San-xc3gu]

Don't worry you'll do well

[@DeanFirth]

Where do we get these 1€ motorbikes?!!!

[@amnini1]

thank you for this video

[@MissBooAngel101]

Thank you sir! Please keep uploading videos >

[@ETH92]

can someone explain how he simplifies the numbers please. Why does he get rid of the zeros and half the numbers??

[@randomuser405]

Thanks a lot for this video

[@joshwilliams4285]

great help

[@finisher489]

Economics God!

[@seojinxian]

thank you so much, sir.

[@lukepettican6611]

Hi, have you got any videos on Unit 2 of the course?

[@coolboy1495]

could you please do A2 videos I really find your videos helpful

[@jacksampson7752]

This is great! and you also look like you could be Morrisseys brother :-)

[@allemaiqbal6576]

Could you please do some A2 vids, would be extremely helpful, thanks paj :)

[@alba5198]

tyyy

[@dhruvsingh97]

Thanks

[@wavestatic]

Can we have a copy of the slides in the video please?

[@nxyanka]

Could someone please explain to me how he got the 25% in terms of percentage change in price?

[@franciscoandaibarra4581]

+Nayanka Singh [(10000-8000)/8000]x100=25

[@nxyanka]

Francisco Anda Ibarra Thanks !

[@Ulfberht59]

when you put the first ped question into the calculator without simplifying you get -4 so im confused now.

[@MrOzzy281]

***** That's the percentage, u need to divide by 100 to get it into decimal.

[@laylat9337]

The first example of PED for the percentage chage formula isn't $8 to $10 a 20 percent change ?????

[@jeremy6435]

No, percentage change of the price is "(new price-original price) / original price" so it would be "($10-$8)/$8" which is $2/$8. That is equivalent to 0.25

[@laylat9337]

oh.... that makes sense, I thought 10 was the original. thank you

[@trthto1]

So are they always minus but you ignore that

[@ralphtetenburg4200]

yh you take the absolute value because that looks nicer i guess haha. Its just the negative has no significance so might as well leave it out. In XED for example the negative sign plays a large role.

[@IBU113T5]

My man pajholden

[@prasadaniewelgama6178]

👍

[@raicattivo]

Certified Hood classic

[@SkinnyMali]

Failed this bullshit anyways loooool found this again on my watch later list probably from years ago.

[@lloydbanks2k6]

Alonzo Harris what did u get?

[@SkinnyMali]

Joshua D I think I got an E

[@Clique47]

PAJ is a subprime loan

[@mbujjebenjamin1482]

shaan your right the demand for coffee tends to be elastic because coffee and tea serve the same purpose.

[@Riddersmate]

P.A.J.

[@mohamedadam2656]

1 week and 2 days worst when you try cramp all the videos and your teacher cant teach stressss..

[@RowanBoc]

Paj is a nonce