Supply and Demand Tips- Macro and Micro

[@JacobAClifford]

The answers to the practice multiple-choice questions are below. Just click on "Read more". 1. D 2. B 3. C 4. E 5. D 6. B 7. C 8. Supply shift to the LEFT. Double check that you labelled EVERYTHING including both supply curves, the demand curve, and the new equilibrium P2 and Q2. Also, make sure that you have an arrow! How to get the Ultimate Review Packet Step 1: Go to: ​acdcecon.thinkific.com​ ​ Step 2: Create a free account Step 3: Enroll in the free version of the MACROeconomics packet (either AP or College) Note Teachers- Do not print any of the packet and give it to your students. This is NOT for in-class use. If you are interested in getting worksheets for your class, please go to my website: ​www.acdcecon.com/bulk-discount​ ​

[@muhamadmansour1775]

the link is not working!

[@thomashogan1645]

For #4 I felt like C, D, and E were all correct.

[@isaacong]

@@thomashogan1645 C is wrong because if demand decreases, the price would also decrease. D is wrong because if the supply increases, the quantity would also increase. I hope that clarifies question #4.

[@consela2011]

@@isaacong can you help me clarify why A is wrong? thanks!^^

[@isaacong]

@@consela2011 Which question?

[@desreeisibor5855]

You are honestly a blessing to econ students!! Your enthusiasm for economics is contagious!!

[@probablygrady]

Bless your soul I have my Econ midterm tomorrow

[@probablygrady]

Update: so I picked the class up two weeks into the semester so I was really behind but thanks to your videos I’m pretty sure I killed that exam ty!

[@emilie3907]

same

[@kaeyasimp7028]

@@probablygradysame for me! But my test is tomorrow

[@wingleecheng3153]

Mr.Clifford, You are saving the world!! I am a student from Hong Kong who are studying economics in university. Your videos definitely helps me a lot to understand the concepts. Thank you so much!!

[@natalieyam1494]

fellow hongkonger hello

[@chaeyoungvideos5742]

Bless you sir I have an econ finals tomorrow and I just failed my econ midterms. I hope I remember all I reviewed from your videos and hope I can pass this semester!

[@ajesusencounter8261]

Demand shifters 1. Tastes and preferences 2. Number of consumers 3. Income 4. Price of related goods 5. Expectations Shifters of supply 1. Price of inputs 2. Number of producers 3. Technology 4. Taxes and Subsidies 5. Expectations

[@AdityaSUnboxings]

Thank

[@罗子昂-p7p]

Cheers

[@tedchirvasiu]

Merci

[@christinae946]

the greatest teacher ! Thank you Sir for your passion !

[@cjmefamily1708]

Hi Mr. Clifford God bless you, also thank you for helping all these students who were struggling, with econ Especially me. Monday I have an Exam in econ, after washing your video I understand more econ, thank you so much. The answer is : (A)

[@reenasahay6061]

I got 7 correct out of 8 questions...thanks sir...your teaching really works...

[@Doll_]

If anyone is looking for the answers, they're actually in the video description

[@elizabethmills1286]

These videos have taught me more then my professor has in seven weeks to be honest

[@deathrate5978]

same XD

[@hao-weihsu2620]

BEST ECON CHANNEL! Relying on you to pass my university exams ahhaa. Keep making them videos!

[@nyell-0938]

You're the best teacher everrrrrrrr

[@elizabethmills1286]

I already watched all three of the supply and demand videos!

[@yingqiliu5144]

Clifford: "there is a zero percent chance that you are gonna get through econ class without having to draw those graphs" 2020 CB: "hold my online exams"

[@jasongross4116]

Hahahaha 2021 too

[@armagancaglayan4812]

@@jasongross4116 today We will learn lmao ahahaha

[@fxsi_5081]

thank you so much Mr Clifford just started Economics and you just made it super easy

[@martinhopaour5744]

Thanks u so much for this! Had a great grade last year due to ur videos!!

[@talizhacajetan1679]

Thank you soo much Sir 😊 this really helped me in my exam

[@elizabethmills1286]

I can't believe I never thought of Supply and Demand as a pair of scissors before yet, and now I see it, I will never see it the same way again

[@patriciarichardson6952]

Could you please do a step by step video of how to figure out the surplus and shortage by numbers?

[@jerryrozario4541]

Sir I love your videos! Keep it up!!

[@chisholm1221]

Thank you thank you thank you!!!!

[@ruthtang1262]

Dude you’re so funny thank you for your videos!

[@Nicki9235]

Helped me out alot! very helpful

[@marksanderson8008]

My main man 💛😍

[@oowrd]

that is professional and soooo fun yeeeeeah

[@housambassal7066]

1. D 2. B 3. C 4. E 5. D 6. B 7. C 8. Supply shift to the LEFT.

[@figsthereal]

eyyyyy notification squad is here XD

[@AnneDulong]

Isn't the 4th answer c? Correct me if I am wrong. Great video

[@CARLOSFRANCO1000]

Interesante vídeo...♫♫ felicidades mi estimado Jacob ...♫♫♫♪♪♪♪ que tengas un feliz fin de semana....♫♪♪♪♪

[@averageplant223]

Are you going to make a gaming channel

[@tawheed1996]

Hello sir, can you make a quick summary of managerial economics? I need it so much.

[@livewithashley]

i don’t understand how 6 is B. Praying someone sees this and explains ❤

[@quickielickie2106]

Can someone please explain why the answer on 7 is C and not A or D? Your answer will be highly appreciated!😊

[@elizabethmills1286]

"That;'s the noise of the Law of Demand" I don't know why but I found that a little funny, we need to have a tiny bit of humor

[@carddeceptionist281]

where are the answers

[@elizabethmills1286]

Although our class is only a hour long

[@odenpetersen6028]

What was the answer to question 5?

[@elizabethmills1286]

The scissors!

[@tacojay-p5w]

Why 6 is B, I don’t understand.

[@tacojay-p5w]

Why 6 is B?

[@ezgi9696]

Why question 5 is not E? Also how can it be D?

[@sabotaje4174]

Because it says what answer is NOT true. In this situation it is answer D

[@samahossam5955]

because price doesnt change the demand curve it changes the quantity demanded

[@teckvkgamer1049]

@@samahossam5955 yes !

[@randomgamer2490]

1. D 2. B 3. C 4. E 5. D 6. B 7. C these r my answers but i cant see your coment @Jacob Clifford

[@faith5703]

On the description box

[@infinity7647]

got 6 right

[@gamerofasiaxd8632]

D A B B D B C

[@elizabethmills1286]

lol!

[@elizabethmills1286]

so he can't really teach us much in the time we have anyway

[@siddharthajain6944]

1 - D 2 - E 3 - C 4 - E 5 - C 6 - C 7 - B. These can be wrong.

[@tifeosibanjo815]

Number 5 is D

[@DiegoRomero-bn2qr]

siddhartha jain 2-D

[@MusicalInquisit]

@@DiegoRomero-bn2qr The answer to 2 is B, not D. The cost of labor decreases. Therefore, the amount made will increase -- supply increases.

[@MusicalInquisit]

6 is B. Since demand has increased _during_ power outages, passing laws of non-increase in price will result in a shortage, according to the supply and demand. Prices must remain below the equilibrium if this law were passed. 7 is C. If apples are substitute goods of oranges, then the increase in price will result in an increase in demand along with an increase in the equilibrium price, according to the supply and demand graph.

[@wingleecheng3153]

Mr.Clifford, You are saving the world!! I am a student from Hong Kong who are studying economics in university. Your videos definitely helps me a lot to understand the concepts. Thank you so much!!

[@tacojay-p5w]

Why 6 is B, I don’t understand.

[@rockestien]

Where are the answers

[@JacobAClifford]

First comment

[@rockestien]

Jacob btw “You” are a legend in Dubai

[@monicalejjandra]

@@JacobAClifford there's only 9 comments and you arent one

[@Doll_]

@@JacobAClifford Yeah, the answers are missing... Maybe they got deleted somehow? Edit: he actually posted them in the description

[@JacobAClifford]

@@Doll_ Ok. Look in the description.

[@wingleecheng3153]

Mr.Clifford, You are saving the world!! I am a student from Hong Kong who are studying economics in university. Your videos definitely helps me a lot to understand the concepts. Thank you so much!!

[@julienelson6506]

Or at least my GPA. I have a 3.74, but a 78% in my Econ class. Our professor spends 30 minutes out of every class telling us we are losers and failures for going to a Community College... joke is on him. He is so bad he can only teach at a Community College. These videos are finally making Econ makes sense. Hopefully, with the help of these videos I will do better on my second test