Shifts to Demand or Supply Curves - Intro to Microeconomics

In this video, I review how shifts in demand and supply curves will have an effect on prices and quantities. Also includes a "cheatsheet recap" of how to solve these problems on an exam. It's geared to an introduction to microeconomics audience.
•Video 1: Intro to Supply & Demand: • Supply and Demand (and...
•Video 2: Shifts to Supply or Demand Cruves: • Shifts to Demand or Su...
•Video 3: Shifts in BOTH Supply and Demand: • Shifts in both Supply ...
More Intro to Microeconomics Videos: sites.google.com/site/curtisk...
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Video Outline:
••Review what might shift the demand curve. 1:10
••Review what might shift the supply curve. 6:50
Shift Summaries:
o Increase in Supply: S↑ ⇒p*↓ & q*↑, 12:00
o Decrease in Supply: S ↓ ⇒p*↑ & q*↓, 17:35
o Increase in Demand: D↑ ⇒p*↑ & q*↑, 20:25
o Decrease in Demand: D↓ ⇒p*↓ & q*↓, 22:25
Cheat sheet recap, 24:30

[@quiteeasilydone5710]

I swear, I nearly lost faith in trying to comprehend this topic. Economics was all Greek to me until I stumbled upon this channel. Your videos are of great help for newbies like me. A thousand thanks!

[@VladDragul]

watching this 9 yrs later... thank you!

[@economicurtis]

Well, the size of the effect on q* and p* depends on the elasticity of demand and supply (basically the slope of the demand and supply curves) and the size of the shift in the curve that shifted. I'll be sure to make videos on these eventually - but probably not before your exam! (sorry)

[@gigiallam6463]

This video is the most perfect one ever ..illustrating the subject of demand and supply ....most of the videos i have watched were so low quality but this one is super... illustrating everything directly and in a very simple way and the data is perfect ..thank you for this wonderful work

[@ruthvidal6466]

have not even finished watching this video but i am so excited to finally be understanding this! thank you so much. i was getting major anxiety studying this not understanding it at all! thank you!

[@economicurtis]

that's why they call it 'intro to micro'! Teaching this stuff: once people learn the material they tend to either of two points of view: either insulted they were taught what is essentially a list of commonsensical points about the economy, or they are insulted that what they're taught doesn't do a good job characterizing the parts of the economy in which they have questions about. But such abstractions about how markets work can actually be quite insightful. Useful every day.

[@kenchiyombwe5436]

Thank you very much am writing my exams to in economics tomorrow morning at 10:00hrs Lusaka, Zambia Central Africa. God Bless you

[@clairegsc]

Super helpful in my coming midTerm Thanks a lot for the effort!..

[@SunnySolanki-gr9yu]

Amazing efforts by you. Just amend the slide at time 22.22 if Demand increase statement must be Quantity produced and purchased increases. Thank you very much.

[@sushimaniac07]

Very organized. Simple and clean explanation, thank you!

[@amy19910118]

This is a very clear explanation! Thanks for helping up in my finals =))))

[@useristrying]

Can we all just take a minute and think of how helpful your videos are? i cant thank you enough! i have a midterm soon and i was kinda struggling with this subject. and you saved me. i also wanted to ask you if youre gonna make videos about Elasticity? cuz its the next chapter in my book

[@mdbantwal]

Great lesson. I really get benifitted.

[@daniellekailey7589]

Amazingly helpful, Thank-you!!

[@fazlayj]

Thanks a lot for your effort, this is very helpful.

[@manofGod475]

This is brilliant stuff man.

[@keithhudson3138]

I love the videos, but do you have any videos that have scenarios, surpluses, and shortages combined? If so, where? Thanks. LOVE THIS!!!

[@economicurtis]

I will do! (though, sorry, likely this winter break). Thank you for the nice comments.

[@JustCookieDough]

Thanks a lot. I feel a lot better about my exams.

[@siveyawa5442]

Thanks! I realy enjoyed the video.....hugely helpful

[@michaelgosk6308]

Awesome video. Really helped me a lot. There was one point where you said that it is hard to imagine a change in technology to cause an inward shift of supply. But let's say you were looking at the market for DVDs, and you had a change in technology which lets people stream movies right to their laptops for the same or lower price, you would see the supply curve for DVDs shift inward isn't that correct? economicurtis Maybe I worded that wrong I'm in a hurry studying for a midterm but I think you understand what I mean. Maybe I'm wrong let me know.

[@vahehgeragosian]

@economicurtis, Thank you for the informative video. Is there a way to download the slides in word or pdf format?

[@economicurtis]

This is all done in Word (mostly "Insert" >> "Shapes" & "Text Box") I actually like Google Doc's Document's "Insert" >> "Drawing" feature now too (it has a sweet revision history if you make a lot of similar but different drawings). Best o' luck!

[@samanthaotter5396]

This was really helpful! Thanks so much. Could you tell me what program you used to do this. I have been using Excel and it requires data behind every graph regardless of whether I just need to show that I understand a concept and just need to draw the lines...

[@5AH1LL]

This is really good, thanks! a few questions 1. In my exam, you need to comment after you analyse on your diagram, any examples, such as the size of the shift of the curve and the elasticity of the curve, anything else? 2.Can you do a video on market failure?

[@shaunmoloi3419]

thank you so much, very helpful. and no, it wasn't boring at all_ unlike my professor.

[@Wecdel]

it was a good video for shift to demand or supply curve at all. what are the traditional aspect of getting shift to demand or supply curve at this scenario ?

[@GerTiffAbby]

Could anyone tell me how I would add another supple/demand curve to a graph I have made on Excel? I know how to form the initial supply/demand curve graph, I just can't figure out how to add notation for a new equilibrium/curve. Someone please help!? =(

[@lilhose2597]

you saved me in my economics final exam

[@pinkshotcameo5464]

Thank you. :) please continue doing this. you are great. Godbless! :)

[@alvaromendoza457]

correct in the min 22:20 ; in your slides appears: "Quantity produced and purchased decreases"; when you even said that it "increases"

[@_trashcan_]

I wish you were my professor

[@GoravGopalSingh]

#Thanku sir, you video was very helpful. your #simplicity was not boring but , it was helpful in understanding the topic .... Can you tell me how you make graphs digitally . Which software do you use ?

[@erikaa3548]

Awesome stuff, I get it now

[@snb303]

so helpful!! thanks a lot

[@economicurtis]

Awesome. Glad to help!

[@munteanumichelle]

Super helpful, thank you :)

[@economicurtis]

Thank you!

[@namecannnotbeblank]

Mans really likes burritos. 😄 Thanks for breaking this down so well.

[@economicurtis]

best comment. true to this day

[@namecannnotbeblank]

@@economicurtis 🙏🏿😂

[@dianabarragan6564]

thank you for your detailed explanation; just one thing, if you could explain, how do you determine which graph to draw in a question? like how do i know which graph to use, supply or demand?

[@chaitrakawathekar7297]

Always use both and use the equilibrium

[@JJ-up2qn]

good stuff man

[@harrietanointed5972]

Wow great sir

[@Atasarstudios]

Thank you!!

[@hamiltonstraughn1602]

Very good.

[@raquelisela]

EXCELLENT!!

[@Nathonuther]

Thank you!

[@economicurtis]

You are very very correct. It's taken a year to notice that typo! Sorry!

[@sabauddin2273]

Excellent

[@khemrajojha2093]

realy helpful thanku

[@nastehahassan4840]

it is usful video thank you so mach

[@serishk7507]

Wow this has been extremely helpful! Thank you! Quick question: When there is a decrease in demand, the shift would be inwards correct? What threw me off was your last example at 22:25, the chart indicates "Demand Decrease (D shifts out)" Is that a typo or am I missing something here?

[@economicurtis]

You are right. The title "Demand Decrease (D Shifts out)" should read "Demand Decrease (D Shifts In)".... That's a pretty big typo, Sorry!

[@economicurtis]

I added an annotation to help with the issue.

[@economicurtis]

Thanks again

[@kaps1308]

you are really good

[@morzaprowashpressurewashin5673]

THANKS!!

[@zacpetrie9001]

Great! helpful

[@VancouverCondominiums]

thank you so much

[@economicurtis]

You're welcome!

[@delalikwame]

thanks so much

[@economicurtis]

thanks mark!

[@sai6829]

thank u so much

[@fabio1fabz]

Awesome video just a little correction is not compliment is complement

[@xxXKawaiiSadieXxx]

Thank you

[@edwardchew5277]

thanks man

[@markmaclean777]

amazing

[@economicurtis]

No problem. Help us improve the science.

[@economicurtis]

Yes.

[@jonathanb5790]

A shift of the demand curve inwards it that mean demand decrease

[@economicurtis]

You're feeding them! That's how the trolls gain more power! Noooo!

[@enezakalim1875]

love economic

[@economicurtis]

Okay...

[@economicurtis]

"science"

[@VinnieRamsay]

everyone commenting is in like university like wtf im in 15 and i have to learn this

[@enesmansur7510]

If i were gay, i'd marry you!! this helped alottttttt! thaaaaaaaaaanks!

[@rexificationable]

You are wrong using straight lines , if this is right , it will be called supply/demand lines. Not demand/supply curve.

[@Pe3Dee]

sry but from a engineering point of view i would not even call this a model. it is to inaccurate.

[@Pe3Dee]

economy is no science

[@Pe3Dee]

this is the most incomplete questionable stuff i ever watched, no relation to real world and further no wonder america economy goes down like hell...

[@economicurtis]

Thank you!