Demand and Supply Explained- Macro Topic 1.4 (Micro Topic 2.1)

Thanks for watching. In this video I explain the law of demand, the substitution effect, the income effect, the law of diminishing marginal utility, and the shifters of demand. Make sure that you understand the difference between a change in quantity demanded and a change in demand. This is the first video in the unit Playlist. Make sure that you watch the the next two videos about supply and equilibrium so you can put it all together. I hope that you like this video. Please like, leave a comment, and subscribe. Note never drink a whole gallon of milk
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[@dm7463]

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and when exams starts, demand for these videos increases tremendously.

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It's price of related goods shift, which comes under substitute. I know its a joke, but just saying.

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+Alexandria Cowles Good luck on your final

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I just love how using milk as a primary example for most of the terms explained helped me way more than my teacher did

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Yo fam, chill out on the milk drinking lmao. But great job at explaining.

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+Desiree H yo why you so ghetto but lemme take you out doh cus the law of supply and demand stated that if i ask you out you will refuse (D rises, Q fall) but if i wont try my qty. with you will be 0 which means I will end up with a what if.

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Desiree H 1 hunnit. just like positive economics its all data and facts! (:

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When school starts for the year, the demand for these videos skyrockets

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i drank milk after this

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Cow milk?

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stop drinking milk!

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Finicko is right...milk is not good for you!

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Fantastic video, somehow concise, comprehensive, and fun all at the same time! Thank you for the work you do

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Our teacher puts your video in class so she doesn’t need to talk LOL

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am i the only one thinking about how he managed to finish a gallon of milk?!?!

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I've done it with friends before... none of us kept it down. >

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Me too

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EPIC!! I'm subscribing!

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+Stephen Morgan Thanks. Check out my summary videos too. If you like this, you will love those.

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Your passion for economics has rubbed off on me, this one subject i never thought i would understand, you have simplified in the most efficient way and i love economics now.

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Very funny and educational!!Thanks.

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+Maritess Neely Thanks Maritess

[@Mesmerizing_charm]

+ACDCLeadership You're welcome!Keep it and more power to you!

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i bet someone reduced your milk while we weren't watching

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Thank you for your sacrifice Mr. Clifford, and the jingle 'Change in demand'. I appreciate it.

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after watching your video , i end up finding the examples in real life for better understand demand all related economic issues. you are really my first best teacher.thank for your great contribution to my studies . blesses on you and yours.

[@framedheart]

If price is the factor that determines demand, why isn't on the x axis?

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_"I need more Cheerios"_ *Chugs it down with excessive amounts of milk*

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Thank you so much for your videos! I got 5/5 in both AP micro and macro just by watching them. You're a great teacher. Thank you so much!

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Just watched both this and his video on shifting supply + demand curves before my second year uni Econ exam. Huge help with concepts at any level

[@GladBoysPainBoys]

Just curious. With KZbin's monetization policies, are you making any money based on your viewcount?

[@JacobAClifford]

+Colton Martinez Godd economics question Colton. Yes, I do earn add revenue from my videos and, in fact, this video brings in the most. That being said, it's not much revenue compared to how long it takes to write, film, and edit a video. Even for popular videos it takes years for them to "pay off" and bring in more revenue than the opportunity cost.

[@GladBoysPainBoys]

Gotcha. Well, at least you get something additional out of it as well. But with all you do, the revenue seems secondary to your enjoyment of filming.

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I live for “ Its getting warm” x2

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You are giving me hope that I actually might pass this online econ class... THANK YOU.

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