Y2 12) Efficiency - Detailed Analysis to get A*s & 7s

[@LazerTheKiller]

"An A* or at WORST an A grade" This is the kind of motivation I need

[@antisocialbarbie1587]

Ameen

[@khorshedtarapore4800]

Dear EconplusDal, Here is just a little background about me: I am Khorshed Tarapore from New Zealand and in 2015 and 2016 I studied CIE Economics (I took AS in 2015 and AL in 2016). As always my teachers were absolute garbage and although I can self study any other subject Economics was one that some of the topics were just not clicking and the textbooks looked a bit too overwhelming! So I pretty much one day found your youtube channel on youtube and honestly it was one of the best days of my studying life. Your videos are amazing- they are so detailed but at the same time short and simple- they don't have confusing jargon and if you do use jargon you always define it so perfectly. Your videos got me As in AS and in A Level! I would just like to thank you- even though you don't know me I am just so thankful for all your help and honestly if I ever met you there would be many hugs your way! I had promised that if I got an A in CIE I would email you (however even if I got Cs and Ds I would have still emailed because you really did help me so much!). Being a maths tutor myself I just wish that one day I can teach like you do. Hope you have a lovely day and year ahead! Kind Regards, Khorshed Tarapore

[@shakilrashid138]

.........

[@anassiddiqui6846]

I also study the same exam board, and yes share the same feelings, this guy is amazing in his explanations. The way he manages to explain key concepts in 8 mins, something that my teachers fail to do in an hour long lecture is what makes this guy special. Cheers!

[@artupayrus]

so did u get it then?

[@mohammadshawkat243]

Hi Tarapore, do you still have Econ essays that you have written? If so, can you please share it with me as I'm also sitting fro the exam this October.

[@demakrylov4403]

Please, make a playlist for A* essays and stuff

[@markhenley3097]

@Kaiser Dakari Go away bots.

[@charliewilcox3570]

Pov: you came here after the live stream

[@joestaff5366]

i need all the help i can get haha

[@tasmihain180]

No

[@jamo5750]

dal you are the GOAT

[@AbidHasan-py4tp]

no way you got up at 5am to revise😭

[@hasinchowdhury235]

You’re an human formed angel

[@johnny.lye_]

That 25 marker today tho

[@samuela775]

wat was it

[@realFriedrichHayek]

Awesome video

[@Bollyqueer]

Great vid! I'm just a little bit confused with how productive efficiency will allow producers to make higher profits. If this is the case, then wouldn't the profit maximising point be the minimum of the AC curve? If where MC=MR is profit maximising, then how is it possible for producers to make higher profits by being productively efficient (where MC may not = MR) Thanks

[@MCart1215]

Because if the business has little control over price and quantity to increase profits they must decrease AC

[@georgiangelov7258]

All of these analysis points are benefits to both consumers and firms. Is it because in general being efficient is beneficial? So, the evaluation would be if the business was productively inefficient or allocatively inefficient, is that correct?

[@bobothezombieslayer]

Legend

[@MC10W]

So you use these whenever talking about a monopolies good or bad (25) or an my market dry tire

[@MaxBooker100]

you would say how monopolies are profit maximisers leading to abnormal profit therefore dynamic efficiencies then his chain of reasoning for one KAA and another KAA may be for allocative or productive as a monopoly may want to maintain market share and maximise consumer welfare. Thats how i would structure it, any other thoughts?

[@MC10W]

how cnq you evalaut3 this?= can you say being x efficiency is very difficult, abd very costly fo ra firm -. can you also say dynamjc efficinecy takjes time, as it takes timw to bring in nrw technology, ?/

[@BolaAddict11]

i love you

[@h1natatach1bana35]

what exactly is meant by him saying Y2 if anyone can help me

[@ManLikeChoby]

it might be year 2

[@zenobhis]

AS ig is year 1 and A LEVEL is Year 2 idk

[@venuk337]

Could you say MU = MC for allocative efficiency?

[@Venuk]

Yes, P=MU because price represents the ability, willingness and/or satisfaction of the consumer purchasing the good.

[@krishanthsukumaran4076]

Please can you share the previous link u told .Thank you

[@5c0tt5t3r]

If you're operating on the PPF is that X-efficiency?

[@yvonnehiggins6443]

your productively efficient

[@puneetmuker6953]

Businesses don't have PPF curves- economies do

[@Adam-do8ny]

Yes you could interpret that as an Economy being X-efficient I think.

[@vaishnavisurnam5719]

No Any point along the PPC is productively efficient.

[@georgiangelov7258]

@@vaishnavisurnam5719 Then, where does x-efficiency take place on a a PPF?

[@LoveEverything-h4o]

Thanks

[@yashalcrochets]

I don’t understand what waste is in x efficiency.

[@nniikkiittaa1207]

Like spending more money than is needed e.g.buying too much materials and some of those aren't used - overplayed wasted money, or if you have a large warehouse at a company some stock might go missing , gets lost/stolen and the company wouldn't know since it's a small cost compared to the total and would cost too much to fix the problem so money is wasted again

[@jazzz8030]

ERLING DAALAND!!!!!

[@davidtiareh4938]

tahn kyou i wll get a

[@bobysainidhr6033]

😂😂

[@ABESW0RLD]

I thought productive efficiency is at mc=mr

[@nnako]

That's profit maximisation