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Search results “Economic concepts and principles”
Micro Unit 1 Summary- Basic Economic Concepts
 
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The Micro Unit 1 Summary video is designed to help you understand economics and goes hand-in-hand with my Ultimate Review Packet. In this video I cover the basics: scarcity, opportunity cost, the economic systems, the production possibilities curve, and comparative advatage. I also show you the quick and dirty (22:22). Don't worry, it's school appropriate. Thanks for watching and please subscribe. The Ultimate Review Packet https://www.youtube.com/watch?v=SxBL54a3-QQ Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 733189 Jacob Clifford
Introducing Economics: Basic Concepts
 
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This is the second video in the Economics Animated series. This one focuses on key economic concepts.It covers: Economics defined Goods and Bads Resources Key Economic Concepts: --Scarcity implies tradeoffs and opportunity costs: TANSTAAFL --People tend to choose rationally, responding to incentives and making decisions at the margin. --Markets and Trade tend to work well and make people better off. Microeconomics vs. Macroeconomics Economic models ceteris paribus
Views: 231304 MikeHammockEconomics
BASIC ECONOMIC CONCEPTS  MANAGERIAL ECONOMICS
 
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BASIC ECONOMIC CONCEPTS MANAGERIAL ECONOMICS
Views: 888 Shashi Aggarwal
Intro to Economics: Crash Course Econ #1
 
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In which Jacob Clifford and Adriene Hill launch a brand new Crash Course on Economics! So, what is economics? Good question. It's not necessarily about money, or stock markets, or trade. It's about people and choices. What, you may ask, does that mean. We'll show you. Let's get started! Crash Course is now on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark Brouwer, Jan Schmid, Anna-Ester Volozh, Robert Kunz, Jason A Saslow, Christian Ludvigsen, Chris Peters, Brad Wardell, Beatrice Jin, Roger C. Rocha, Eric Knight, Jessica Simmons, Jeffrey Thompson, Elliot Beter, Today I Found Out, James Craver, Ian Dundore, Jessica Wode, SR Foxley, Sandra Aft, Jacob Ash, Steve Marshall TO: My Students FROM: Mrs. Culp Culpzilla's students are amazing! You guys rock! TO: Everyone FROM: Pankaj DFTBA and keep being the exception like the Mongols. Thank you so much to all of our awesome supporters for their contributions to help make Crash Course possible and freely available for everyone forever: Summer Naugle, Minnow, Ilkka Hemmilä, Kaitlyn Celeste, Lee Toran, Sarty, Damian Shaw, Nathaniel "The Skipper" Cruz Chavez, Maura Doyle, Chris, Sander Mutsaers Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 3423629 CrashCourse
10 Principles of Economics
 
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10 Principles of Economics
Views: 75473 ageconjon
How The Economic Machine Works by Ray Dalio
 
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Economics 101 -- "How the Economic Machine Works." Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, "How does the economy really work?" Based on Dalio's practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur. To learn more about Economic Principles visit: http://www.economicprinciples.org. [Also Available In Chinese] 经济这台机器是怎样运行的: http://www.youtube.com/watch?v=-ZbeYejg9Pk [Also Available In Russian] Как действует экономическая машина. Автор: Рэй Далио (на русском языке): http://youtu.be/8BaNOlIfMLE
Views: 6811712 Principles by Ray Dalio
Lec 1 | MIT 14.01SC Principles of Microeconomics
 
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Lecture 1: Introduction to Microeconomics Instructor: Jon Gruber, 14.01 students View the complete course: http://ocw.mit.edu/14-01SCF10 License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu
Views: 940230 MIT OpenCourseWare
Macroeconomics- Everything You Need to Know
 
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In this video I quickly cover all the concepts and graph that you will see in an AP macroeconomics or college-level introductory macroeconomics course. Dn't take notes. Just get the big picture. *Note* At 25:48, the signs are reversed. I talk about scarcity, opportunity cost, the PPC, comparative advantage, supply and demand, GDP, unemployment, inflation, aggregate demand and supply, LRAS, Phillips Curve, economic growth, fiscal policy, money, banking, monetary policy, the Money Market, loanable funds, the balance of payments, and exchange rates. Wow! That's a lot of stuff. Good luck on your test! Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 668715 Jacob Clifford
Demand and Supply Explained- Econ 2.1
 
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Thanks for watching. In this video I explain the law of demand, the substitution effect, the income effect, the law of diminishing marginal utility, and the shifters of demand. Make sure that you understand the difference between a change in quantity demanded and a change in demand. This is the first video in the unit Playlist. Make sure that you watch the the next two videos about supply and equilibrium so you can put it all together. I hope that you like this video. Please like, leave a comment, and subscribe. *Note* never drink a whole gallon of milk Get the Ultimate Review Packet- http://www.acdcecon.com/#!review-packet/czji Supply Video https://www.youtube.com/watch?v=ewPNugIqCUM Video Explaining Shifting the Curves https://www.youtube.com/watch?v=V0tIOqU7m-c Unit playlists https://www.youtube.com/watch?v=HQkVO2PsxFw Learn it by watching Indiana Jones https://www.youtube.com/watch?v=RP0j3Lnlazs
Views: 1614668 Jacob Clifford
Elon Musk's Basic Economics
 
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Get your custom domain at http://hover.com/wendover Check out Joseph from Real Life Lore's book: http://amzn.to/2laZBie Subscribe to this new channel from Wendover Productions: https://www.youtube.com/halfasinteresting Check out my podcast with Brian from Real Engineering: https://itunes.apple.com/us/podcast/showmakers/id1224583218?mt=2 (iTunes link) https://www.youtube.com/channel/UC_10vJJqf2ZK0lWrb5BXAPg (YouTube link) Support Wendover Productions on Patreon: https://www.patreon.com/wendoverproductions Get a Wendover Productions t-shirt for $20: https://store.dftba.com/products/wendover-productions-shirt Youtube: http://www.YouTube.com/WendoverProductions Twitter: http://www.Twitter.com/WendoverPro Email: [email protected] Reddit: http://Reddit.com/r/WendoverProductions Animation by Josh Sherrington (https://www.youtube.com/heliosphere) Sound by Graham Haerther (http://www.Haerther.net) Thumbnail by Joe Cieplinski (http://joecieplinski.com/) Elon Musk Photo 1 courtesy Heisenberg Media SpaceX footage courtesy SpaceX Tesla footage courtesy Tesla Music: "Under Suspicion" by Lee Rosevere and "Euphoric" by Sound of Picture Big thanks to Patreon supporters: Kevin Song, Kevin Song, David Cichowski, Andy Tran, Victor Zimmer, Paul Jihoon Choi, Dylan Benson, M van Kasbergen, Etienne Dechamps, Adil Abdulla, Arunabh Chattopadhyay, Ieng Chi Hin, Ken Rutabana, John Johnston, Connor J Smith, Rob Harvey, Arkadiy Kulev, Hagai Bloch Gadot, Aitan Magence, Eyal Matsliah, Sihien Goh, Joseph Bull, Marcelo Alves Vieira, Hank Green, Plinio Correa, Brady Bellini
Views: 3223849 Wendover Productions
Supply and Demand: Crash Course Economics #4
 
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In which Adriene Hill and Jacob Clifford teach you about one of the fundamental economic ideas, supply and demand. What is supply and demand? Well, you’ll have to watch the video to really understand it, but it’s kind of important for everything economically. Supply and demand sets prices, and indicates to manufacturers how much to produce. Also, it has a lot to do with strawberries. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Jan Schmid, Simun Niclasen, Robert Kunz, Daniel Baulig, Jason A Saslow, Eric Kitchen, Christian, Beatrice Jin, Anna-Ester Volozh, Eric Knight, Elliot Beter, Jeffrey Thompson, Ian Dundore, Stephen Lawless, Today I Found Out, James Craver, Jessica Wode, Sandra Aft, Jacob Ash, SR Foxley, Christy Huddleston, Steve Marshall, Chris Peters Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 1561970 CrashCourse
10 principles of economics
 
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Although the study of economics has many facets, the field is unified by several central ideas. The Ten Principles of Economics offer an overview of what economics is all about. People Face Tradeoffs. To get one thing, you have to give up something else. Making decisions requires trading off one goal against another. The Cost of Something is What You Give Up to Get It. Decision-makers have to consider both the obvious and implicit costs of their actions. Rational People Think at the Margin. A rational decision-maker takes action if and only if the marginal benefit of the action exceeds the marginal cost. People Respond to Incentives. Behavior changes when costs or benefits change. Trade Can Make Everyone Better Off. Trade allows each person to specialize in the activities he or she does best. By trading with others, people can buy a greater variety of goods or services. Markets Are Usually a Good Way to Organize Economic Activity. Households and firms that interact in market economies act as if they are guided by an "invisible hand" that leads the market to allocate resources efficiently. The opposite of this is economic activity that is organized by a central planner within the government. Governments Can Sometimes Improve Market Outcomes. When a market fails to allocate resources efficiently, the government can change the outcome through public policy. Examples are regulations against monopolies and pollution. A Country's Standard of Living Depends on Its Ability to Produce Goods and Services. Countries whose workers produce a large quantity of goods and services per unit of time enjoy a high standard of living. Similarly, as a nation's productivity grows, so does its average income. Prices Rise When the Government Prints Too Much Money. When a government creates large quantities of the nation's money, the value of the money falls. As a result, prices increase, requiring more of the same money to buy goods and services. Society Faces a Short-Run Tradeoff Between Inflation and Unemployment. Reducing inflation often causes a temporary rise in unemployment. This tradeoff is crucial for understanding the short-run effects of changes in taxes,government spending and monetary policy.
Views: 29782 Danis Maulana
Introduction to basic economic concepts.
 
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For RMCHS online economics course.
Views: 6260 RMcKennaEconomics
Microeconomics- Everything You Need to Know
 
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In this video I cover all the concepts for an introductory microeconomics course and AP course. I go super fast so don't take notes. Focus on the big picture ideas, identfy what you still need to practoce, and go back and watch my Unit Summary videos. If you like my videos please get the Ultimate Review Packet. It is the best way to say thank you. It is awesome and it's only $10. Here is the link: http://www.acdcecon.com/#!review-packet/czji I cover scarcity, opportunit costs, the PPC, comparative advantage, demand, supply, ceilings, floors, shifts, elasticity, taxes, consumer suprlus, consumer choice, costs of production, perfect competition, monopolies, opligopolies, mono[olistic competition, labor markets and firms, monopsonies, public goods, externalities, and the Lorenz curve. Wow! That's a lot. Get ready. Here we go!!!!!!!!!!!!! Thank you to Austin for organizing the following: Unit 1 1:00 Basics 1:13 PPC 2:17 Absolute & Comparative Advantage 3:07 Circular Flow Model Unit 2 4:04 Demand & Supply 5:26 Substitutes & Compliments 5:36 Normal & Inferior Goods 5:46 Elasticity 7:35 Consumer & Producer Surplus 7:52 Price Controls, Ceilings & Floors 8:37 Trade 9:08 Taxes 9:56 Maximizing Utility Unit 3 11:03 Production, Inputs & Outputs 11:16 Law of Diminishing Marginal Returns 11:36 Costs of Production 13:00 Economies of Scale 13:37 Perfect Competition 14:25 Profit-Maximizing Rule, MR=MC 15:20 Shut down Rule 16:05 Accounting & Economic Profit 16:30 Short-Run, Long-Run 16:56 Productive & Allocative Efficiency Unit 4 18:02 Monopoly 18:53 Natural Monopoly 20:01 Price Discrimination 20:22 Oligopoly 20:31 Game Theory 20:42 Monopolistic Competition Unit 5 21:51 Derived Demand 22:07 Minimum Wage 22:19 MRP & MRC 22:52 Labor Market 23:30 Monopsony 24:05 Least-Cost Rule Unit 6 25:11 Market Failures 25:27 Public Goods 26:00 Externalities 27:21 Lorenz Curve 27:44 Gini Coefficient 27:53 Types of Taxes Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 609603 Jacob Clifford
Principles of Agricultural Economics   Part 1
 
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This book focus on agriculture. However, it is quite useful to understand how rational firms as a whole make decisions in a competitive market. Book by Andrew Barkley and Paul W Barkley.
Fundamental Economic Concepts Part1.mov
 
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Day 1 Lecture - Fundamental Economic Concepts
Views: 12089 Brian DeLallo
Opportunity Cost Definition and Real World Examples
 
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Visit Study.com for thousands more videos like this one. You'll get full access to our interactive quizzes and transcripts and can find out how to use our videos to earn real college credit. YouTube hosts only the first few lessons in each course. The rest are at Study.com. Take the next step in your educational future and graduate with less debt and in less time.
Views: 322458 Study.com
Economic models | Basic economics concepts | AP Macroeconomics and Microeconomics | Khan Academy
 
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Why economists use models and their limitations. View more lessons or practice this subject at http://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/basic-economics-concepts-macro/introduction-to-the-economic-way-of-thinking-macro/v/economic-models?utm_source=youtube&utm_medium=desc&utm_campaign=apmacroeconomics AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we'll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us! Khan Academy is a nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. We offer quizzes, questions, instructional videos, and articles on a range of academic subjects, including math, biology, chemistry, physics, history, economics, finance, grammar, preschool learning, and more. We provide teachers with tools and data so they can help their students develop the skills, habits, and mindsets for success in school and beyond. Khan Academy has been translated into dozens of languages, and 15 million people around the globe learn on Khan Academy every month. As a 501(c)(3) nonprofit organization, we would love your help! Donate or volunteer today! Donate here: https://www.khanacademy.org/donate?utm_source=youtube&utm_medium=desc Volunteer here: https://www.khanacademy.org/contribute?utm_source=youtube&utm_medium=desc
Views: 62305 Khan Academy
Macro Unit 1 Summary- Basic Concept and Demand/Supply
 
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The Macro Unit 1 Summary video is designed to help you understand economics and goes hand-in-hand with my Ultimate Review Packet. In this video I cover the basics: scarcity, opportunity cost, the economic systems, the production possibilities curve (9:22), comparative advantage (14:45) and demand and supply (29:26). I also show you the quick and dirty (22:21). Don't worry, it's school appropriate. Thanks for watching and please subscribe. The Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 596763 Jacob Clifford
Basics Of Economics in Hindi (अर्थव्यवस्था की आधारभूत  जानकारी ) - Economics Online Lectures #2
 
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Basics Of Economics in Hindi (अर्थव्यवस्था की आधारभूत जानकारी ) - Economics Lecture #2 This is the second video of Economics lecture in Hindi, in Economics Lecture series in Hindi. These Economics lectures are helpful for Banking Awareness, General awareness and GK for IBPS, Bank PO, SSC CGL and Clerk exams. Economics in Hindi and India Economy lectures in Hindi mainly helpful for IAS exams Like CGPSC, UPSC, and State PSCs all over India. In this video, we have Explained Micro and Macro Economics as an example. ► Latest Coupons and Discount: https://www.goooffer.com ►Dc Classes Blog :- http://www.dcclasses.com/ व्यष्टि और समष्टि अर्थशास्त्र क्या है ?उदाहरण के साथ l CONCEPT OF भारतीय अर्थव्यस्था ( INDIAN ECONOMY) I भारतीय अर्थव्यस्था ( INDIAN ECONOMY) FOR SSC CGL I भारतीय अर्थव्यस्था ( INDIAN ECONOMY) FOR SSC CGL CHSL I भारतीय अर्थव्यस्था ( INDIAN ECONOMY) I SHORTCUTS & TRICKS OF भारतीय अर्थव्यस्था ( INDIAN ECONOMY) I भारतीय अर्थव्यस्था ( INDIAN ECONOMY) TRICKS BY DINESH MIGLANI SIR I PRACTICE SESSION भारतीय अर्थव्यस्था ( INDIAN ECONOMY) I PREVIOUS YEAR QUESTIONS ON भारतीय अर्थव्यस्था ( INDIAN ECONOMY) I भारतीय अर्थव्यस्था ( INDIAN ECONOMY) FOR CAT MBA. CGPSC Classes in Hindi के course की शुरुआत Basics of Economics in Hindi topic से हुई है, जिसमे हमने cgpsc में preparation के ऊपर चर्चा की है | eg. ► Economics Lecture Series - http://bit.ly/2v0Mqoa DC Classes CG is an e-learning platform for cgpsc coaching classes in Hindi online.This platform is in Chhattisgarh ( India ) to provide CGPSC Lectures and preparation videos in Hindi for CG PSC, CG Vyapam, CG Police Service and Bank PO and Cleark exams, Cg-ya pam, SSC CGL exams, RBI Grade B Exams and basic concepts for UPSC Exam Lectures. We will expand our lecture for CG and CBSC Board School Exams. ************** Like and Follow Us : ►FacebookLink:- https://www.facebook.com/dcclassescg/ ►Twitter Account:- https://twitter.com/DcclassesCG ►Google plus:- http://bit.ly/2saQ20I ► Website: https://dcclasses.com Subscribe to DC Classes CG:-https://www.youtube.com/channel/UCvGa... ************** CGPSC Syllabus(Page No 15 -24) Link:- http://festyy.com/qBy7SW Our Previous Lectures on Economics are:- ► Economics Lecture Series - http://bit.ly/2v0Mqoa ►Main Website of Chhattisgarh https://cgstate.gov.in TOP INDIAN CONSTITUTION BOOKS - ►M. Laxmikant (Hindi) - http://amzn.to/2veCG5X ►M. Laxmikant (English) - http://amzn.to/2wxh7SJ ►D.D Basu (Hindi) - http://amzn.to/2wxWw0l ►D.D Basu (English)-http://amzn.to/2vnGh15 ►Subhash Kasyap(Hindi) - http://amzn.to/2wxqUYI ►Subhash Kasyap (English) – http://amzn.to/2wxGP9m (2) TOP BOOKS FOR HISTORY - ►Ancient History - IN English - http://amzn.to/2wycZSq ►Medieval India by Chandra Satish - http://amzn.to/2w2HQmL In English - http://amzn.to/2wy4iaL ►Morden History of India- ►Rajiv Ahir Hindi - http://amzn.to/2wxYxd4 ►Rajiv Ahir English - http://amzn.to/2w2ZZkF ►Bipin Chandra Hindi – http://amzn.to/2wxUDRd ►Bipin Chandra IN English – http://amzn.to/2wxvK8r ►By Bipin Chandra English – http://amzn.to/2vffaWo (3)Top Books for Economics - ► Ramesh Singh in English: - http://amzn.to/2volxpC ► Ramesh Singh In Hindi:- http://amzn.to/2voJDk5 ► S.N. Lal in Hindi:-http://amzn.to/2vRlKX1 ► Datt and Sundaram in English: - http://amzn.to/2vo4Af8 ► Datt and Sundaram in Hindi:- http://amzn.to/2w39GiU NCERT (9-12) Books for Economics:- ►Class 9th in English:-http://amzn.to/2wyauPR ►Class 9th in Hindi:- http://amzn.to/2xsB75m ► Class 10th In English: - http://amzn.to/2wE8STQ ►Class 10th in Hindi:- http://amzn.to/2xsIUzX ►Class 11th in English: - http://amzn.to/2wxRgdf ►Class 11th in Hindi:- http://amzn.to/2w3mOEP ► Class 12th in English (Micro & Macro):- http://amzn.to/2vo6HzM http://amzn.to/2w38FaM ►Class 12th in (Micro & Macro):- http://amzn.to/2xs5ngC (4)Top Books for Environment:- ►Paryavaran Paristhitiki (Old Edition Hindi) - http://amzn.to/2wxVUb6 ►Environment & Ecology (English):- http://amzn.to/2xsoS8A ►Our Environment:- http://amzn.to/2xcv2KS (5)Top Books for Geography:- ► Atlas: - http://amzn.to/2vY4QoR ►Mahesh Barnwal Hindi:- http://amzn.to/2w38Oe7 ►Mahesh Barnwal (English):- http://amzn.to/2wxYcqO ►Goh Cheng Leong - http://amzn.to/2wnwLPN ►Prepared By: Rajendra Kumar Mandavi All the contents are used only for the purpose of learning and education under fair use policy.
Views: 845120 DC Classes
Basic Economic Concepts
 
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Video by Mohammad Zulfadhly Jan Jam (2017342113)
Intro to Game Theory and the Dominant Strategy Equilibrium
 
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http://economicsdetective.com/ Game theory is the study of human behaviour in strategic settings. It is used to solve some of the harder problems in economics. So what is a game? To have a game, you need at least two players, sometimes called agents, or, if you want to be really crazy, people. And you need payoffs for the players, you need to define the outcomes they can potentially get depending on how the game unfolds. And finally, you need rules for the game. Now, it's not always obvious how people will behave, even with players, payoffs, and rules clearly defined. That's why game theorists have a number of solution concepts for games, including the dominant strategy equilibrium, the Nash equilibrium, the subgame perfect Nash equilibrium, the Bayesian equilibrium, and the weak perfect Bayesian equilibrium. The most basic solution concept is the dominant strategy equilibrium. In a game, each player can have any number of possible strategies. One strategy strictly dominates another strategy if the player is always better off under that strategy no matter what other players do. If one strategy strictly dominates every other possible strategy a player could take, that strategy is a strictly dominant strategy. We have a dominant strategy equilibrium when all players play a strictly dominant strategy. Now let's look at the most famous game in game theory, the Prisoner's Dilemma. There are two prisoners, prisoner 1 and prisoner 2, and they each have a choice. They can testify against the other, or they can keep quiet. If they both keep quiet, they both get off with a light sentence, which I'll represent with a payoff of 2. Prisoner 1's payoff is on the left, prisoner 2's is on the right. If they both testify, they both get a moderate sentence. I'll represent the moderate sentence by a payoff of 0. Right about now, keeping quiet is looking like the best option, but there's more to this game. If one testifies and the other keeps quiet, the one who testified will get off scot free, and the one who kept quiet will get an extremely harsh sentence; they'll throw the book at him. Think about this game for a moment. Keeping quiet looks like a pretty good option if both prisoners could promise not to testify. But these prisoners only care about their own self-interest. So, both prisoners may tell the other they pinky swear not to testify, but they won't keep that promise. If prisoner 2 keeps quiet, prisoner 1 is better off testifying. If prisoner 2 testifies, prisoner 1 is better off testifying. Testifying is a dominant strategy for both players, so both testifying is the dominant strategy equilibrium. The prisoner's dilemma comes up in all sorts of situations. For instance, instead of prisoners our players could be, say, oil companies. If both set a high price they can sell for a high price, but each one has an incentive to undercut, in which case he will capture the entire market. The equilibrium outcome is for each company to charge a low price. The prisoner's dilemma isn't the only game with a dominant strategy equilibrium. Here's a more complicated one. Can you tell which strategy is dominant? It's A for player 1, and E for player 2. So the dominant strategy equilibrium is A, E.
Views: 452980 The Economics Detective
CPT - Micro Economics : Introduction : Lecture 1
 
01:01:06
Buy DVD's of CA / CS / CMA. Call @ 0551-6050551
Views: 407700 CA dilip badlani
Lec 4 | MIT 14.01SC Principles of Microeconomics
 
48:10
Lecture 4: Preferences and Utility Instructor: Jon Gruber, 14.01 students View the complete course: http://ocw.mit.edu/14-01SCF10 License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu
Views: 211426 MIT OpenCourseWare
Lec 2 | MIT 14.01SC Principles of Microeconomics
 
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Lecture 2: Applying Supply and Demand Instructor: Jon Gruber, 14.01 students View the complete course: http://ocw.mit.edu/14-01SCF10 License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu
Views: 331894 MIT OpenCourseWare
Elasticity and the Total Revenue Test- Micro 2.9
 
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Why don't gas stations have sales? I explain elasticity of demand and the differnce between inelastic and elastic. I also cover the total revenue test and give you a little trick to remember it. Thanks for watching. Please subscribe. Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 1148981 Jacob Clifford
Basic Economic Concepts
 
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List of graphs: Constant Opportunity Cost, Increasing Opportunity Cost, Decreasing Opportunity Cost, Production Possibilities Curve, PPC Increase, PPC Decrease, PPC Before Trade, PPC After Trade, PPC Absolute Advantage, and PPC Comparative Advantage.
Views: 557 Chris Thomas
The 1 Basic Economics Principle People Misunderstand
 
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Economics can be a complicated issue, so I've removed most of the complexity and got down to the core of the issue. It turns out that money isn't what most people assume it is. And yes, after several arguments in the comment sections of my videos where certain people assumed they knew how economies worked, I thought it best to make a video to clarify why they're mistaken. I'm fairly certain they won't listen, since that's their nature, but it's worth explaining it for everyone else so that you don't get mislead by the claims of those people in the future. Some of you expecting history videos may be wondering why I've covered this topic. Well, I can't cover Lend Lease, or certain other non-war topics which I've promised to cover, unless we get the basics down. This is one of those basic videos which will enable me to move onto other history topics. Please check out the pinned comment below for more information, notes, links, and sources. Also, please consider supporting me on Patreon and help make more videos like this possible https://www.patreon.com/TIKhistory Academic Agent's response video https://youtu.be/QPqPnWTaMrE Learn Liberty also says the exact same thing in their video "Why Not Print More Money?" https://youtu.be/ZkyBnaYCUhw Here’s some other videos you may be interested in - ReasonTV “This LA Musician Built $1,200 Tiny Houses for the Homeless. Then the City Seized Them.” https://youtu.be/n6h7fL22WCE Academic Agent’s “The Origins of Money” https://youtu.be/fWDn1-dyXDg (watch first) and “Understanding Inflation” https://youtu.be/nnisOz2nGFc Academic Agent’s “Why Workers Are Not Exploited in the Free Market” https://youtu.be/iIONcSbrxbQ “Does Capitalism Exploit Workers? - Learn Liberty” https://youtu.be/4Ttbj6LAu0A Thomas Sowell explains “Trickle Down Theory” myth made up by Marxists https://youtu.be/nZPDpk8NA-g Valuetainment’s “How to Start a Business for under $500” https://youtu.be/rKAAzZFLPEs Milton Friedman’s “The Robin Hood Myth” https://youtu.be/5Wx5PYZIWcQ ||| and "Monetary Policy" (explaining inflation and showing inflation in different countries through charts) https://youtu.be/6LfUyML5QVY ||| and “Understanding Inflation” https://youtu.be/GJ4TTNeSUdQ ||| and “Case Against Equal Pay for Equal Work” https://youtu.be/hsIpQ7YguGE ||| and “The Great Depression Myth” https://youtu.be/dgyQsIGLt_w ReasonTV “The $15 Minimum Wage Is Turning Hard Workers Into Black Market Lawbreakers” https://youtu.be/0fsVI3EmUnQ This video is discussing events or concepts that are academic, educational and historical in nature. This video is for informational purposes and was created so we may better understand the past and learn from the mistakes others have made. History isn’t as boring as some people think, and my goal is to get people talking about it. I also want to dispel the myths and distortions that ruin our perception of the past by asking a simple question - “But is this really the case?”. I have a 2:1 Degree in History and a passion for early 20th Century conflicts (mainly WW2). I’m therefore approaching this like I would an academic essay. Lots of sources, quotes, references and so on. Only the truth will do.
Views: 16556 TIK
Episode 1: Basic Economic Concepts
 
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Basic Economic principles: The Basic Economic problem theory, 4 Factors of production and Opportunity cost. For more student notes please visit http://cambridge-notes.com/
Views: 98 Angelique van Zyl
The Equilibrium Price and Quantity
 
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In this lesson, we investigate how prices reach equilibrium and how the market works like an invisible hand coordinating economic activity. At equilibrium, the price is stable and gains from trade are maximized. When the price is not at equilibrium, a shortage or a surplus occurs. The equilibrium price is the result of competition amongst buyers and sellers. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1WJ4kPF Next video: http://bit.ly/1Q0Bs3D
Multiplier Effect and Accelerator
 
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Multiplier Effect and Accelerator Effects - A look at the multiplier effect and accelerator effects in detail
Views: 85412 EconplusDal
NB2. Top 10 Economic Performance Concepts of Macroeconomics
 
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Episode 2: No Bull Review's Macroeconomics and Microeconomics podcast - Top 10 things you must know for GDP, unemployment, inflation, and inflation. This is geared toward college-level principles of macro and micro courses and students enrolled in AP Economics. http://mrmedico.info http://gum.co/top10econ ___ Top 10 Concepts in this video: #1. Circular Flow Model #2. Gross Domestic Product (GDP) #3. Excluded from GDP #4. Real vs. Nominal GDP #5. Business Cycles #6. Unemployment #7. Demand-Pull vs. Cost-Push Inflation #8. Inflation Rate #9. Fisher Equation #10. Winners and Losers of Unanticipated Inflation ___ About Mr. Medico: Mr. Medico is an Economics educator in New York with over a decade of classroom experience. He is the author of No Bull Review - Macroeconomics and Microeconomics: For use with the AP Macroeconomics and AP Microeconomics Exams (2012) and No Bull Review - Macroeconomics and Microeconomics: Top 10 Guide (2014). Mr. Medico is the developer of several best-selling iPhone test prep apps from Study By App, LLC, including Economics AP (2010), Economics AP Free (2011), and Economics Flashcard Review (2011). In 2010, he contributed to WNYC Radio/Public Radio International's morning news program The Takeaway and was recently a featured guest on episode 27 of the Economics Rockstar podcast. Mr. Medico is the Macroeconomics instructor for the Junior State of America summer school at Princeton University.
“The Principles of Free Market Economics: Experiences Teaching Online”
 
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Gary Wolfram, Hillsdale College To register for the Free Online Course Economics 101, visit http://online.hillsdale.edu/ Delivered at the 2014 Free Market Forum To learn more about this annual event, visit http://www.hillsdale.edu/outreach/fre... To learn more about Hillsdale College, visit http://www.hillsdale.edu/
Views: 991 Hillsdale College
Micro Unit 1 Intro- Basic Economic Concepts (Economics)
 
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A quick overview of what you will cover in the first unit of Microeconomics. Watch the Unit 1 Playlist- http://www.youtube.com/playlist?src_vid=Jh6eTPBJODU&list=PLA46DB4506062B62B&feature=iv&annotation_id=annotation_846520 Virtually all teachers will cover the same topics, but keep in mind that some teachers might teach a few concepts in a different order.
Views: 95366 Jacob Clifford
Nature and Scope of Managerial  Economics | Micro Economics | Macro Economics
 
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Managerial Economics; Management; Nature and Scope of Managerial Economics | Micro Economics | Macro Economics; Introduction to Managerial Economics- 00:00:09- 00:03:15 Scope of Managerial Economics - 00:03:16- 00:09:25 * Why study Managerial Economics? * What is Managerial Economics? - Managerial decision areas i) Assessment of Capital ii) What to provide iii) Determination of profitable output iv) Determining what input output v) Sales promotion Division of Managerial Economics - 00:09:26- 00:11:31 * Scope of Managerial Economics i) Micro Economics ii) Macro Economics Micro Economics - 00:11:33- 00:21:34 - Internal issues within business * Basic internal issues are:- - What to produce? - How much to produce? - Choice of technology - How to price the commodity? - How to promote sales? - How to face price competition? - How to decide on new investments? - How to manage profit and capital? - How to manage inventory? Micro Economic Theories 1) Theory of Demand Factors of Production- Land Labour Capital Entrepreneur 2) Pricing Theory 3) Profit Analysis and Profit Management 4) Theory of Capital and Investment Decisions Macro Economics - 00:21:35- 00:27:48 - Introduction about Macro Economics - Macro Economic Issues * Issues related to macro economics trends in the economy * Issues related to Foreign Trade Video by Edupedia World(www.edupediaworld.com), Free Online Education; Click here https://www.youtube.com/playlist?list=PLJumA3phskPFwp2XXInxCWpv28nPMimDU&disable_polymer=true for more videos on Managerial Economics; All Rights Reserved.
Views: 178043 Edupedia World
Economic Concepts
 
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4-44 St. Anselm of Canterbury. Economics final performance task. Sa wakas.
Views: 51 Nia Cervantes
The Circular Economy: A Simple Explanation | Cillian Lohan | TEDxYouth@EEB3
 
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What is a "Circular Economy"? Why should we care? What does it mean for us? In this talk, Cillian Lohan, CEO of an Irish NGO, the Green Economy Foundation, will explain the basic principles behind the economic concept of a circular economy and how it can really change the world for the better. learn more about [email protected] here: https://ec.eeb3.eu/tedx Cillian Lohan leads an Irish NGO, Green Economy Foundation. A member of the European Economic and Social Committee since 2014, he was recently selected as rapporteur for the Circular Economy Package. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx
Views: 10704 TEDx Talks
Chapter 18: Open Economy Model - Basic Concepts
 
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Basic Concepts of Open Economy Macroeconomics -appreciation, depreciation -net exports -net capital outflow -identity NX = NCO
Views: 20750 Professor Bissessar
Types of Economies - The Economic Problem (5/5) | Principles of Microeconomics
 
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In this series I will be discussing the economic problem. We will be looking at a few new concepts, namely the production possibilities curve, allocative efficiency, gains from trade, types of economies, and economic growth. Keep in touch! Facebook: https://www.facebook.com/InspirareGlobal Twitter: https://www.twitter.com/InspirareGlobal
Views: 202 Inspirare
Macroeconomics: Crash Course Economics #5
 
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This week, Adriene and Jacob teach you about macroeconomics. This is the stuff of big picture economics, and the major movers in the economy. Like taxes and monetary policy and inflation and policy. We need this stuff, because if you don't have a big picture of the economy, crashes and panics are more likely. Of course, economics is extremely complex and unpredictable. Today we'll talk about GDP as a measure of a country's economic health, the basics of economic analysis, and even a little about full employment, unemployment Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Jan Schmid, Simun Niclasen, Robert Kunz, Daniel Baulig, Jason A Saslow, Eric Kitchen, Christian, Beatrice Jin, Anna-Ester Volozh, Eric Knight, Elliot Beter, Jeffrey Thompson, Ian Dundore, Stephen Lawless, Today I Found Out, James Craver, Jessica Wode, Sandra Aft, Jacob Ash, SR Foxley, Christy Huddleston, Steve Marshall, Chris Peters -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 1194250 CrashCourse
Basic Economic Principles---Demand and Supply
 
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Learn the principles of supply and demand, changes in supply and demand, and changes in quantity demanded and supplied.  This is a basic overview to help with a beginner in macroeconomics.
Micro Unit 1, Day 1 -- Basic Economic Concepts
 
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Opportunity cost, marginal analysis and comparative advantage
Views: 4100 foosclass
Macroeconomics Unit 1 Intro: Basic Economic Concepts (AP Macro)
 
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Unit Playlist- https://www.youtube.com/playlist?list=PLD5BC727C84E254E5&feature=iv&src_vid=yjfSGwUcPG8&annotation_id=annotation_931173 A quick overview of what you will cover in the first unit of Macroeconomics. Virtually all teachers will cover the same topics, but keep in mind that some teachers might teach a few concepts in a different order.
Views: 161372 Jacob Clifford
E1.3 Basic Concepts & Principles
 
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Introduction to Economics: Law of Demand and Supply | Substitutes and Complimentary | normal goods | inferior goods | giffen goods | market equilibrium | invisible hand of the market | speculative demand for money | elasticity
Views: 11 UPSC Preparation
Keynesian economics | Aggregate demand and aggregate supply | Macroeconomics | Khan Academy
 
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Contrasting Keynesian and Classical Thinking Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/macroeconomics/aggregate-supply-demand-topic/keynesian-thinking/v/risks-of-keynesian-thinking?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/macroeconomics/aggregate-supply-demand-topic/monetary-fiscal-policy/v/tax-lever-of-fiscal-policy?utm_source=YT&utm_medium=Desc&utm_campaign=macroeconomics Macroeconomics on Khan Academy: Topics covered in a traditional college level introductory macroeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Macroeconomics channel: https://www.youtube.com/channel/UCBytY7pnP0GAHB3C8vDeXvg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 710256 Khan Academy
Behavioral Economics: Crash Course Economics #27
 
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Why do people buy the stuff they buy? In classical economics, most models assume that consumers behave rationally. As you've probably noticed in your real life, in case after case, people don't actually make rational decisions. There can be emotional or social reasons for all this irrationality, and behavioral economics tries to address this. We'll talk about risk, nudge theory, prices and perception, and the ultimatum game. So, let's get irrational, in a logical way, of course. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 391584 CrashCourse
Scarcity, Opportunity Cost and the PPC
 
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The basic economic problem is one rooted in both the natural world and in human greed. We live in a world of limited resources, but we seem to have unlimited wants. This results in scarcity, which gives rise to the very field of Economics, which deals with how to allocate scarce resources between the competing wants and needs of society. This lesson will introduce these basic economic concepts, along with the first (and perhaps the most useful) graph an Economics student will learn, the Production Possibilities Curve. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 202856 Jason Welker
Basic Business Principles
 
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http://learnfromjon.com If you've ever wondered just what it takes to succeed online, this video reveals the secret formula that EVERY successful marketer follows - online and offline. And the formula is only three steps long!
Views: 84412 Prosperative LLC
Environmental Economics
 
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021 - Environmental Economics In this video Paul Andersen explains how economic models, like supply and demand, can be applied to environmental systems. The market forces will not protect environmental services until proper valuation and externalities are established. The wealth of a nation can be more accurately measured through the sustainability of the economic model. Do you speak another language? Help me translate my videos: http://www.bozemanscience.com/translations/ Music Attribution Intro Title: I4dsong_loop_main.wav Artist: CosmicD Link to sound: http://www.freesound.org/people/CosmicD/sounds/72556/ Creative Commons Atribution License Outro Title: String Theory Artist: Herman Jolly http://sunsetvalley.bandcamp.com/track/string-theory All of the images are licensed under creative commons and public domain licensing: balin, jean victor. (2009). Cartoon cloud. Retrieved from https://commons.wikimedia.org/wiki/File:Cartoon_cloud.svg Contrast, H. (2008). Deutsch: Eine Fabrik in China am Ufer des Jangtse.English: A Factory in China at Yangtze River.Euskara: Landare industrialen ondoriz, aire kutsakorra.Nederlands: Industrie langs de Yangtse rivier in China. Retrieved from https://commons.wikimedia.org/wiki/File:Factory_in_China.jpg EPA. (2008). English: Diesel smoke from a big truck. Retrieved from https://commons.wikimedia.org/wiki/File:Diesel-smoke.jpg Evans, N. 17 crew; taken by either H. S. or R. (1972). العربية: صورة الكرة الزرقاء الشهيرة التي تعتبر أول صورة لمنظر الارض الكامل. إلتقطت الصورة في 7 ديسمبر 1972. Retrieved from https://commons.wikimedia.org/wiki/File:The_Earth_seen_from_Apollo_17.jpg Factory by Anonymous. (n.d.). Retrieved from https://openclipart.org/download/23962/Anonymous-Factory.svg Gizlog. (2011). English: Sigmund Freud Bobble Head/Wackelkopf. Retrieved from https://commons.wikimedia.org/wiki/File:Sigmund_Freud_Bobble_Head_Wackelkopf.JPG Zifan, A. (2015). English: Countries by GDP (PPP) per capita in 2014, based on data from the International Monetary Fund. Retrieved from https://commons.wikimedia.org/wiki/File:Countries_by_GDP_(PPP)_Per_Capita_in_2014.svg
Views: 81713 Bozeman Science

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