Indifference Curves

Think about what restricts your choices when it comes to buying goods and services. Your income is one variable. Prices are another. What about what you like and don’t like? That’s an important one!
Your preferences play a huge role in how you decide to spend your money. We often face so many options when it comes to what we buy that it can be difficult to decide. Even with a simple example of pizzas and coffees, there can be many combinations that would give you the same level of satisfaction or happiness - what economists call utility. There are also many combinations to which you might find yourself totally indifferent.
In this video, Arizona State University’s Professor Joana Girante will show you how to graph an indifference curve. She’ll also introduce you to marginal rates of substitution (don’t worry, it sounds more complicated than it is!). We’ll also take a look at how perfect substitutes and perfect complements change the shape of an indifference curve.
Microeconomics Course: bit.ly/20VablY
Next video: bit.ly/2rWsdwV

[@gooddaysir2420]

the more i watch your videos the more i realize economics is just simple concepts that are explained with complex graphs and convoluted jargon

[@johnburson70]

When I took Econ in college that’s pretty much exactly how my professor explained it. It said economists just like to use big confusing words. 😂

[@gammaraygun6576]

And the more your realize that this stuff doesn't reflect reality...at all?

[@femiairboy94]

@@gammaraygun6576 yes at the basic level, but the more advanced economic classes you take the more realistic and complex it gets.

[@slimstrait780]

@@gammaraygun6576 Well.. most graphs are designed to be simplified versions of reality. But this is still basic economics.

[@jackyjack9660]

@@femiairboy94 not as complex as science...

[@nitinsharmaa]

You explained in 8 minutes what i been taught in 2hrs of class.

[@ieatalldayandimstillhungry626]

LOL 😂😂😂🤣

[@saowaluksrisawat1631]

Truly agree

[@ptrisno]

Sameee loll hahahahha

[@antonioluna-leija3178]

Same here! only my professor took 6 hours to explain it and I still didn't get anything :'D

[@junkiri6970]

Psst 1.25x

[@waynelemma3668]

you explained this better in 8 minutes than my professor could in an hour and 20 minutes... thanks so much!!!

[@farihawasti4771]

Not to mention the Tuition$$!

[@lionelho2866]

hahaha same to my situation. My prof is telling rubbish

[@kabinehkpukumu6182]

I can't help but to pause this video after few minutes of watching, just to compliment your brilliant explanation of this topic! We need more of your kind to not only teach Economics but all other subjects. And thanks a lot for your team, Marginal Revolution Union for putting these great stuffs together! Keep up recording more great videos. Thanks a lot!

[@heyptech1726]

Joana you are Genius ... you make all the concept interconnected with transition between terms and it make us easier to understand thank you so much

[@DarthCoco]

This explanation feels like something I have not seen in such a flow of the depth it intended to go into. Much more preferable than my lectures.

[@purplesky4060]

This is better explanation than the explanation of my microeconomic professor who loves to fail his students but can't explain his lesson better

[@DeepakPandey-cx5sf]

Lol eco profs are same across world

[@tobybala]

This video is just perfect it explains in depth what online teachers cant properly in just 8 mins. Teachers of mine do not even give example to ensure students get a grasp of what they are learning they just go straight to the computations which we do not understand, kudos to this KZbin channel that its able to explain it in a way that ensures students are able to grasp it properly.

[@Xavicardenas]

why is it always so simple but yet during the tests is never a pizza and coffee hahaha thank you for the class

[@mwanabulliii7784]

Trust me I'm understanding right the moment I see the leaf on my take things change 😂

[@aftabsada2282]

the way she explains concepts in such a clean and neat way is simply amazimg!!! She has absolute knowledge in her subject Imdividual like her makes economics intresting!! Please make more videos on ecomonics miss!!!

[@hannahkelsay178]

I don’t think I could survive my class without this video! Thank you!!!!

[@jgtv6269]

Holy smokes! All of a sudden the 12 pages I read on this chapter is easily explained in this short easy to grasp video! Thank u 🙏🏻😀

[@mosahosseini63]

she :"Economist dosent like things that dont make sense". me while looking at the micro economic book, "it doesent make sense att all".

[@Sewingtutor]

😂

[@aldricmartinez-olson7509]

haha

[@alappuzha9]

Hats off ... learning this for years together I couldn’t understand exactly what those curves are.. your video just did it in 8 min ..

[@sethother8012]

This is the most sense this has ever made! I don’t think it ever clicked back in university like it did now . Thanks

[@freatythedreary5491]

The way she talks is so entrancing for some reason, like she's being serious&formal and saucy at the same time

[@akane3549]

I could understand our lesson easily because of this. So keep it on! Thanks!

[@Mystiefel]

Thank you! Really great video - great explanation, I was searching for hours just to get this information that you gave me now in 8 min.Love it!

[@arialeen5329]

I love listening to her voice. Makes everything interesting. Thank you so much!

[@minhajasalzai6709]

WOW!!!!!! How good you explain. RESPECT.

[@seanybo777]

Brilliant video, well explained short, simple and to the point thanks a lot!

[@vrushalirembersu6399]

I love the examples you used. It made this concept so easy to understand 😍 thanks

[@estherkabwe2739]

Wow..... this is absolutely amazing. Thank you very much. The animated illustrations were just perfect

[@linavikstrom7426]

I understand indifference curves and MRS much better now. Thank you for your work. You explained it really well.

[@jayasreekuppili5189]

that's so easier to understand and perfect. Thank you

[@slashbasesolutions]

I literally like the way you simplify this topic. Thank you very much. ❤

[@samuelkwashie3693]

Thank you. Just what I needed to prepare for my test

[@mukhammadaliochilov1493]

Amazing video impressed by how u explained it in 8 minutes. Thanks!

[@Chthonian121]

This makes grad school econ easy to understand. Why is it that I have a hard to understanding what my professor is saying but I googled this video I understood everything? Thanks!!

[@murtazahussainganie8195]

Exceptional teaching, more information in just few minutes, best among all the videos of ICs i watched, thank you mam.

[@puneetgupta9116]

We are not, you and your team nailed it. Beautifully explained. I love your work.

[@Jojo-mt1yt]

I love how it's animated,makes it easier to understand....

[@haneaordonez3274]

Thanks, great explanation and video edition!

[@jeremiahabraham4216]

Loved how they teach the basics.

[@sarahtasneem8855]

The instructor did a really good job in explaining and the video is also done really well.Thanks a lot ♥️🇧🇩

[@pzyyyy]

by far the best video on this topic

[@jasminhamzic5617]

Prof. J. Girante, Obrigado! Current situation >>> 02:56 am, facing micro-exam in 5 days. You earned nothing materialistic, but your karma level increased drastic. Best regards from Germany Jasko

[@joanagirante]

Thanks, Jasmin! Right back at you! -- Joana Girante

[@samaysoni4015]

Amazing video, really needed this concept to be explained

[@anushkagupta3897]

This is amazing thank you so much!!

[@Tharlesyoutub]

This Channel is SO good!

[@Pain3088]

This video is fantastic visually and helps me understand better while doing revision for my University Exam.

[@MisterAadj]

this is so well edited and explained. compliments.

[@uzair3d]

Just epic explanation! Hats off!

[@plant_lover_next_door]

Absolutely clear! Thanks so much!

[@user-lz2og5xb1o]

That was amazing! You explain it sooo easily

[@sirrazergaming9570]

You have no idea how much I appreciate this🌹🌹

[@skyhight2764]

Thank you so much for teaching this in easy method.

[@BinhNguyen-zq8rj]

Really thank you Mrs. Reading hundred of books is not as effective as watching the simple teaching and explanation.

[@remixowlz]

THANK YOU SO MUCH! I DID NOT KNOW THAT THIS CONCEPT WAS ACTUALLY EASY!

[@rohankumarverma4309]

Thanx mam, You are great in explaining more no. of concepts in a single video in a simple way😊

[@thoxha]

wow you are amazing. I am doing my MBA online and it was difficult to understand the book. Your explanation is simply excellent. Thank you from the bottom of my heart.

[@joanagirante]

How neat! I'm glad you found it useful. Thank you from the bottom of mine. -- Joana Girante

[@jackeylee286]

What a fancy way to illustrate those abstract concepts!

[@bharatmavani5835]

Very wonderful and inspiring for all economic students for explined the IC curve

[@rowenang6761]

This is so helpful!! Thank you!!

[@ExcelTutorials1]

very clear explanation, thank you!

[@old1621]

Thanks, y'all helping me a lot with my class 11th Microeconomics

[@loreliyn]

Thank you for this lecture!

[@pratikchandak9679]

You ma'am.. you and your team... Nailed it... Good work... Keep it up.. i understood a concept from CFA due to this video..

[@dagmawittarekegn2957]

Where have you been all my life?😂😂 thank you so much! In 8 min I got to understand a lot of things that I didn't know very well

[@rebwaromer9323]

awesome video, you guys are best teachers ..

[@ReizarfEgroeg]

now I want a pizza and coffee

[@kaveeshaabeysinghe4839]

hell yeah and you re in lockdown T-T

[@SUuperCLasSH]

Well explained thanks!!

[@ogonnaosuafor1584]

You are the best Ma'am. Thank you so much

[@ankitpal5124]

A very informative tutorial. Things were easier to understand.

[@sheikhjahidhasan82]

thank you. my professor should watch your video.

[@amiraliyevski8069]

Very effective video appreciate it!

[@rohithashva3266]

Thank you It helped me a lot

[@arthurntembula]

Thank you

[@jackdavis8596]

A terrific explanation.

[@sofialzy]

great explanation, thanks a lot

[@carrysnowdrift7890]

You are an amazing teacher

[@managementstudies489]

Beautiful explanation

[@liyaxin9144]

can I say it is mesmerizing to watch this video? learning can be a really fun process

[@gary6516]

Very nice video and well explained.

[@kelvinkk577]

Clear explanation. Thx

[@DivyaSingh-ln2kz]

Nice explanation I understand everything

[@tanvirulislam2796]

*I am Satisfied* *Thank you so much* 🙂

[@aftabsada2282]

We need more from you miss..ur brilliant 5/5

[@srinath5577]

Recomended by my friend and Subscribed after watching this video.. You explained very well. .

[@DilipKumar-du1wo]

That's so helpful thank you

[@uviniranaweera]

well explained. keep up ur good work.

[@imadramli5727]

I love you, this was very helpful

[@mirkhakimadashaliev2195]

your videos are extremely helpful thank you so much

[@MarginalRevolutionUniversity]

Thank you! -Roman

[@EN-wd9yu]

Thank you very much!

[@srinivaspannati7170]

Very informative mam. Thank you.

[@rocketfeeds907]

I give major portion of pie to video editor. Wish I get classes with editor

[@mackndanina262]

Great video!

[@ZeGeeN]

what a great video!

[@_MFatinIstiaque]

Smartly explained ✨

[@jiandanplayer5283]

Thank you soo much maam..very informative and easy to understand

[@jayt7090]

Thank you so much

[@HASSANGAMINGSHOW]

splendid way of presentation, I salute u mam...

[@Jessica-jp7vu]

Wow thanks for your help :)

[@hindmarmash3088]

Thank you so much 🥰👍

[@oscarsantacruz3148]

GREAT VIDEO

[@Namadventure]

Brilliant,just Brilliant!🎉

[@amrabdelhakim1585]

Thank you!

[@mokamara98]

Really helpful.

[@conorthemc]

Never leave. This makes more sense than the hundreds I've spent on text books.

[@TesfayeKekeba]

very nice presentation.10Q!