Indifference Curves - Income and Substitution Effects for Normal Goods I A Level and IB Economics

In this revision video we work through how to show the substitution and income effects arising from a fall in the market price of a product, in our example we see why people are likely to buy more fresh oranges when their price goes down. ​
#aqaeconomics #ibeconomics #edexceleconomics #cieeconomics #ocreconomics

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[@isaacottley1121]

Thank you! You're the third person to explain this to me but you're the first who actually makes sense of it :) appreciate your help!

[@tutor2u-official]

Thanks Isaac - good luck with your studies!

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Nyc the video has increased my understanding from the topic

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[@tutor2u-official]

Glad it helped!

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[@tutor2u-official]

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[@user-bv1so9kj2o]

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[@dr.swapnilsoni]

CLEARLY explained! Question: Perfectly complementary goods are also Perfectly not Substitutable goods? I am referring to L-shaped indifferent curve here. Pl clarify!!

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This was incredibly well explained! thank you for that!

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[@tutor2u-official]

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[@mannatkalra7174]

Great explanation! Thank you! :)

[@tutor2u-official]

Glad you enjoyed it!

[@GlambyPragya]

Indifference curve for normal good will be convex ?

[@carlyapp6092]

thank you!!!!! this really helped and made sense.

[@tutor2u-official]

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Awesome explanation, thank you

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Salute to this man! Great Explanation! :)

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Thank you sir well explained.

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[@rdv9710]

Thank you! How do we know which effect is greater?

[@tutor2u-official]

Good question! Much depends on the type of product and also how strong is consumer loyalty!

[@harishahari1495]

Very nice video thank you so much

[@valiytora6094]

Thanks a lot, sir! Very helpful!

[@tutor2u-official]

Pleasure - glad you found it useful

[@user-yg7yc4hw5y]

If income rises then surely the demand for bananas also increase, assuming bananas are normal goods. If both are normal goods then should we expect to see a rise in quantity for both goods?

[@livewireredb.9953]

Is the movement from A to B considered the law of diminishing marginal utility seeing as bananas were given up for more oranges?

[@tutor2u-official]

Indeed!

[@livewireredb.9953]

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[@tutor2u-official]

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muchas gracias muy útil

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Thank you!

[@kigunduronald8984]

Can u please explain when there is increase in prices of oranges

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Derek Rae

[@Erisa206]

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[@romilpandey3855]

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Thank you

[@zharxscool429]

it's a pivot and not a shift no? 1:42

[@tutor2u-official]

A pivotal shift maybe?

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the velative pvice

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