Normal and inferior goods | Supply, demand, and market equilibrium | Microeconomics | Khan Academy

[@dandiaran]

I've been using Khan Academy since High School. Now I'm a Grad student (master's), and I keep coming back every time I need to study for my exams. Thank you for simplifying everything for us throughout these years, Sal!

[@maemueller3962]

im in the same boat as you, this channel never fails regardless of your level in school

[@musak.4068]

Amazing!!!

[@khoitrinh8009]

You just summarize all of my lectures in 5:55 mins. Give a bravo for awesome channel

[@skatedude74]

why do I even go to highschool? I could just sit at home watching these videos for 8 hours a day and then go and get a GED

[@lazywarrior]

because you might watch this for 1 min and instantly go to p***hub for the next 7h 59min or even more than that

[@plasmaismehname1834]

@@lazywarrior im dead

[@blast2686]

Can Z lmao

[@josephpostma1787]

@@lazywarrior I am confused.

[@arjundas1461]

@@lazywarrior 😂😂😂😂🤣

[@LividImp]

Q. Why do Yugos come with heated rear windows? A. To keep your hands warm while you're pushing them.

[@Mladjasmilic]

It isn't so bad . My family has one since '88 . It was bought my grandfather when my father pased his driving exam, I grew up with it . It survived bad Romanian gaosline during war (half gasoline , half kiwi die with wather ; gasoline die here is green) . Now I drive it , it is god car to have fun in , it goes off-road during picnics . 4 people can carry it around . And parts are found everywhere . Best of all , it has room for Ford Mondeo V6 .

[@firecracker591]

you are always the only one who can explain things a proper way !!

[@elitetech7728]

KEY TERMS IN THIS VIDEO: 1. The income effect: The effect where , generally, an increase in income causes an increase in the demand of a product

[@jada5408]

This is very helpful for me right now, because tomorrow I have level1 test.

[@PercivalHoward]

You have improved my life. Thank-you Khan Academy

[@stevenyu5556]

the Chinese subtitle is awesome!!!

[@strellix2950]

You made my day by Forcing me to love economics :)

[@GDPWorking]

When income goes down, D decreases and Q increases for inferior goods.

[@ИванПапулин]

You try to give the video more brightness it will be great if you do

[@drbertdelgado]

Very Helpful. Thank you.

[@liyandiaye4122]

Super good for IB student !

[@rierwarrir897]

It's Really great sir👍 Now I'm easily cracked up this type of questions in cgl papers 📃

[@AndileSphola]

Thank you Khan Academy!

[@lekside1]

Actually studied this in my Economics class in College

[@ChristinaKilgore]

I'd buy the yugo - it looks cool! like a classic Jeep, but less off-roadish

[@MrUnix-xf8dq]

No you wouldn't, trust me... that thing barely moves

[@HarjeetSingh-ve5mh]

Its so simple to understand thanks sir

[@dareajayi2563]

Thank you so much...I recognize this voice from Khan Academy. I think you should audition for a comedian....I bet you go far.

[@citrusi3aby]

Very Helpful for my Economic class !

[@rnmoates]

Wouldn't the graph on the right stay the same when income went up because the people who couldn't afford the cheapest can now afford it?

[@piyushsehrawat1379]

Thanku sir You have clear my all doubts

[@jaiward4869]

You wrote quantitity.

[@brianrendon1234]

then why did you watch the video? pendejo

[@jaiward4869]

Brian Rendon Huh?

[@forrestl5597]

and Prie

[@mbrkgns]

what a mistake woowwowow

[@raj56736]

Titty :-D

[@XxHamletJacobsXx2022]

Awesome job!!! i've always wanted to see more videos from the President of Education :-)

[@kajendraprabamuthuvisayan5290]

Thank you so much. you have explained In a way that I can understand. 😊👍

[@EVB_PRINCESHARMA]

Awesome 😊 explaination

[@Exodus1996]

Idk how i managed to be a sub to this channel

[@MrTigerman08]

Thanks Khan for posting this :)

[@ZacharySmith89]

@asdfgoogle With all due respect, he implied what you said. He said that the Yugo was an example of an "inferior good", which means that people would purchase it only if they could not afford something better: a "normal good". So, people would question, "A $500 car? Yeah right. What's wrong with it?" but would still buy it if they couldn't afford better. However, if their income went up, per Khan's example, then more people could buy better cars, decreasing the demand/price for Yugos.

[@svenjag2954]

Very helpful. Thanks :)

[@idiotrun1997]

@goldensilverstar But Khan Academy is not inferior, it's superior!

[@Thegamemakur]

Thanks I love economics!

[@thygod4920]

Can you be my econs teacher 😔

[@sifuerasmia.]

Big help! Thanks much.

[@SpinyNormanDinsdale]

Is a computer a good example of a normal good though? I am only asking because I would assume a higher income would beg for a better computer that can do more things. Compare that to a piece of quality furniture which is more "stable" in this regard....?? Forgive my ignorance if this is totally wrong!

[@lavishjain0605]

Thank u sir,ur video helped my doubt clear

[@NurudeenMusah-dn5lo]

thanks

[@marceladuenas1284]

very helpful!!!!

[@MichelleCN_]

Excellent explanation, thank you

[@yanjan9952]

good expanation thank you

[@RbtV92]

@KillerWhaleSFl thats a hell of a point. I didnt think you were looking at it from that perspective.

[@TuciREAPER]

This is what makes be mad , I study economics but i hate all the assumptions , for example we can assume that the laptop is and inferior good because when income is increased people would by better laptops .Still generally how i understand cheap shit is mostly inferior

[@drakewilliams10dw]

Thank you

[@blast2686]

So what’s the difference between a Inferior good and a Griffey good

[@ledmk2]

Nice video

[@orcishgreenland5690]

shoutouts to Dan Taylor

[@cosmosgato]

Outstanding!

[@nafisameena1784]

Can someone tell me why the relationship between quantity demanded and income exists for normal and inferior goods?

[@moosaiqbal7651]

thank you...

[@angi_0974]

i got it n thanx

[@mmmnnn302]

wao nice thanks a lot

[@saptarshiacharyya1844]

But can we not apply a similar narrative for laptops as well? When income goes up, people would like to purchase a better and more expensive model right?

[@iiovemiku]

and wouldn't the people who couldn't afford the cheapest car in the first place now are able to afford that car when their income goes up, thus replacing the customers that were lost from the income increase?

[@itsme5039]

Can you please explain about demand equations??

[@OwOrphanedSRCE]

superior vs. inferior

[@ZacharySmith89]

@asdfgoogle Just like your experience, where I live $500 cars have serious problems 90% of the time (like mine!). Because they tend to have serious problems, they are considered an "inferior good". Because they are an inferior good (with serious problems), most people would NOT buy them. We agree on this. I'm not entirely certain why you replied in argumentative tone, because we seem to agree...um, your insistence on a "bell effect", I think, means that you have defined different parameters...

[@drahkik]

@superduc99 Just make sure to share these videos with everyone that you know. There is hope.

[@joanwang614]

that's right, when you have more money, you want to own a better car. not the cheapest one.

[@ritikkumar5645]

Hello Joan wang

[@joephrone]

thank 4 this

[@animals0feel1pain2]

oh snap. i have that computer. didnt even realize it till near the end

[@Bojl95]

interesting!

[@김선규-r6p]

한국어 자막 감사합니다

[@Mackberserk]

What about the people who couldn't afford a car at all and did not consider buying one until their income went up, thus enabling them to afford the cheap car? Seems like there would be no net change.

[@lifesnotstill5003]

The demand curve shows consumers who are BOTH WILLING AND ABLE to buy the good.

[@KoolAidAnd]

So would an automobile that is opposite that of the [Inferior] Ugo, like say a [superior] Pagani Huayra, be considered as a normal good when it's demand is graphed?

[@ruphunk]

I don't agree with this example. When Income increases people will prefer to buy Notebooks over Laptops or may be even high end Tablets or Smartphones. Giffen's Paradox is much appropraite

[@mudasser39]

you sound like Tom Hank's and thanks for the explanation :)

[@RbtV92]

@KillerWhaleSFl but then what would define a normal good? goods would be produced by monopolies because there'd be no need to create another good JUST like it. That'd be a pretty dysfunctional society, dont you think?

[@RiyadhElalami]

@KoolAidAnd As I understood Yes

[@tylerhertz9428]

Thanks Kahn, that's literally the car I drive >:/ (except mine's green)

[@ZacharySmith89]

@asdfgoogle Okay, so I have imagined your bell shape. It was annoying because it was sideways, on the y-axis--I agree with Sal that the x-axis should have been price!--I also understood the cause of your bell shape (it would definitely be skewed right--er, up--usually?). So, I now understand where we differ: I see this video as working on the assumption of the absence of price perception for the sake of simplicity/clarity to focus on the affect of income on the demand/price for inferior goods.

[@rockYhre]

A buyer comes comes to car dealership and asks the seller to show him the new model of Yugo. - Here you go, this is the latest Yugo model. Buyer: - Does it have air conditioning? Seller: - Yes, it has air conditioning, abs, power steering, seat heater and a button to open wings with which Yugo flies at higher speeds. Buyer: - You f***ing with me? Seller: - You started.

[@kroovyandcal]

Is crack an inferior good and cocaine a normal good?

[@Kret4en]

+kroovyandcal You are actually quite close, but I think that cocaine is a luxury good

[@aesutton]

Same applies to laptops tho. You could afford better specs... Their price varies drastically. o.o Inferior good = ramen noodles. Normal good = pepper? idk.

[@YaserSamin]

But the factors here are coming into play. He mentioned there is a better alternative for a better car in the market. So obviously with more income people will want to buy something better. But in case of laptop, it's just think that there is only one kind of choice in the market. With more income people would want to buy the laptop because it's one of a kind. Maybe I am wrong or you are right, but from conceptual sense, I hope I have managed to make some meaning out of my comment :)

[@nadien7629]

what grade is this stuff for or is it just an explanation.. im in grade 11 and im afraid this video(s) are not on my level 😂

[@MaureenLycaon]

I think it's not tuned for a certain grade level. It's simply kind of "Economics 101" -- the very basics of economics.

[@coasttv5715]

Gud

[@sephizinho]

I understand the logic, but you could say that you could get a better laptop aswell no?

[@GuGachina]

Use Public transportation instead of shitty car... If income increases people will prefer to own a car(Shitty or good) over talking public transportation... Easier concept to wrap your head around :)

[@TheZakev]

+GuGachina Ohh, man. Yougo is the best car :)

[@ZacharySmith89]

@asdfgoogle But I agree that this--or the last video, in which he discussed variables assumed to be held constant--would have been a good time to introduce the concept of price perception and other irrationalities. Who knows, maybe Sal's the type of libertarian who believes in a completely rational market with perfect information, where everyone has the time to research that $500 car to ascertain its true value, without any doubt of misinformation. XD. Or maybe he'll cover it in the next vid...

[@RbtV92]

@goldensilverstar i wouldnt mind watching khan even if I sould afford university professors.

[@RbtV92]

@RbtV92 could*

[@mydogsuger]

Is your first name shaad?

[@goldensilverstar]

An example of Inferiority: Khan Academy An example of Normal: The shitty teachers at my school

[@dubbleplusgood]

Thumbs up if you misread the title as "Normal and Inferior Gods".

[@wristkiss]

Quantitity lol

[@iiiiiiiiiiii90000000]

Did anyone else notice that he wrote Quantitity at 0:37? quan ti ti ty lol

[@Humiinabox]

@kamikazerus - how come Jewish?

[@MXMGamer]

is he a muslim? i'm going to be one today

[@DynastyJr]

jh

[@tubeyou1901]

@LividImp HAHAAHHAHA LOL!

[@superduc99]

2,457 views in three days. About the same number of views an NBA slam dunk, lady gaga or snoop dogg vids would get in 5 minutes. We, as a generation, are doomed!

[@Niipazik]

the guy just cant write properly

[@lubnahasan4184]

bro u duuuuumb!

[@Niipazik]

lubna hasan okay :

[@DigitizedSelf]

I'd buy a better computer :-/

[@abdiaden6322]

Incrumb lol

[@asif8208]

background should be white not black.

[@MinukuuTutorials]

Thank you

[@luciusmkandawire8712]

Thank you