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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: 676925 Jacob Clifford
10 Principles of Economics
 
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10 Principles of Economics
Views: 70351 ageconjon
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: 3287191 CrashCourse
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: 226508 MikeHammockEconomics
Basic Economic Concepts
 
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Basic Economic Concepts AP Economics 2016-2017 Chapter One
Views: 23604 shubes2
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: 6393181 Principles by Ray Dalio
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: 28335 Danis Maulana
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: 1535932 Jacob Clifford
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: 591461 Jacob Clifford
Economic Schools of Thought: Crash Course Economics #14
 
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We talk a lot about Keynesian economics on this show, pretty much because the real world currently runs on Keynesian principles. That said, there are some other economic ideas out there, and today we're going to talk about a few of them. So, if you've been aching to hear about socialism, communism, the Chicago School, or the Austrian School, this episode is for you. 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: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson 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: 765215 CrashCourse
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: 897810 MIT OpenCourseWare
Scarcity, the Basic Economic Problem
 
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What would you do if you showed up to class and there weren't nearly enough chairs to go around? Well, you're facing and economic problem that requires an economic system to solve! This lesson introduces the basic economic problem of scarcity and defines "Economics" and "Economic systems", both key concepts for a student starting out on his or her journey to study the "dismal science"! 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: 66749 Jason Welker
Introduction to economics | Supply, demand, and market equilibrium | Microeconomics | Khan Academy
 
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Basic introduction to what microeconomics and macroeconomics study. A bit on Adam Smith. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/demand-curve-tutorial/v/law-of-demand?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy is a nonprofit with a mission to provide a free, world-class education for anyone, anywhere. We believe learners of all ages should have unlimited access to free educational content they can master at their own pace. We use intelligent software, deep data analytics and intuitive user interfaces to help students and teachers around the world. Our resources cover preschool through early college education, including math, biology, chemistry, physics, economics, finance, history, grammar and more. We offer free personalized SAT test prep in partnership with the test developer, the College Board. Khan Academy has been translated into dozens of languages, and 100 million people use our platform worldwide every year. For more information, visit www.khanacademy.org, join us on Facebook or follow us on Twitter at @khanacademy. And remember, you can learn anything. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Microeconomics channel: https://www.youtube.com/channel/UC_6zQ54DjQJdLodwsxAsdZg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 1787234 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: 565205 Jacob Clifford
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: 1512944 CrashCourse
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: 309647 Study.com
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: 160675 Jacob Clifford
Lec 4 | MIT 14.01SC Principles of Microeconomics
 
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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: 205816 MIT OpenCourseWare
Basic Concepts in Economics
 
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Basic Concepts in Ch.1
Views: 244 [email protected]
What is scarcity?
 
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Scarcity explained-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 73666 Kivuvu Osias
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: 58685 Khan Academy
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: 321078 MIT OpenCourseWare
Introduction to basic economic concepts.
 
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For RMCHS online economics course.
Views: 6050 RMcKennaEconomics
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
Fundamental Economic Concepts Part1.mov
 
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Day 1 Lecture - Fundamental Economic Concepts
Views: 11847 Brian DeLallo
Concepts of Indian Economy Simplified Through Storytelling for Govt. Exams (UPSC CSE/IAS) - Part 1
 
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Watch Full Course Playlist here: https://goo.gl/Af7ne7 Learn complete Indian Economy for UPSC CSE in a simplified method through storytelling. Learn all about basics of economics in this Indian economy lecture for IAS, like meaning of economics, micro economics, macro economics, questions related to economics, factors of production and a brief on forms of economic systems that is capitalist economy, socialist economy, mixed economy etc. The course is about Indian economy for UPSC and tries to present it in an innovative manner I.e complex concepts with simple examples. It has been designed for each and every one of you who finds Economics a hard nut to crack but, hard nuts are the easiest to crack. If you don't believe us then watch this series and you will know that it is the easiest subject which can be mastered with some amount of concentration. Must watch for all. You can find the entire course here: https://goo.gl/h5W9pq Download the Unacademy Learning App from the Google Play Store here:- https://goo.gl/02OhYI Do Subscribe and be a part of the community for more such lessons here: https://goo.gl/gycFVs
Views: 52240 Unacademy
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: 544 Chris Thomas
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: 517083 Jacob Clifford
Chapter 5. Elasticity and Its application.
 
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YOU BELEIVE IN THIS PROJECT! Donate it and you'll support us. https://diegocruz18.wixsite.com/onlineco/donation Chapter 5. Elasticity and Its application. Gregory Mankiw. Principles of Economics. The price elasticity of demand and its determinants. Computing the price elasticity of demand. The midpoint method: A better way to calculate percentage changes and elasticities. The midpoint method: A better way to calculate percentage changes and elasticities Different cases of Price Elasticity demand Different cases of Price Elasticity Demand. Total revenue and the price elasticity. Total revenue and the price elasticity. Total revenue and the price elasticity of demand. Other Demand Elasticities.The income Elasticities. Cross-Price Elasticity of Demand Elasticity of supply. Computing the price elasticity of supply. The variety of supply curves.
Views: 19345 Economics Course
CPT - Micro Economics : Introduction : Lecture 1
 
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Buy DVD's of CA / CS / CMA. Call @ 0551-6050551
Views: 389513 CA dilip badlani
Introduction to  Principles of Economic
 
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Hi, welcome to Massive Open Online Courses (MOOCs). Explore the knowladge around the world through online learning experience. Introduction to BEEB 1013 Principles of Economic This course provides students with exposure to the basic concepts of economics. The course is divided into microeconomics and macroeconomics. Topics include the theory of supply and demand, and market equilibrium price, and consumer behaviour theory, theory and firm cost, national income, aggregate supply and demand, money supply and money demand and monetary and fiscal policy. MOOC Universiti Utara Malaysia
Views: 47 utlc uum
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: 429905 The Economics Detective
Indian Economy Part 1 - Micro Economics Concepts and Application for UPSC / SSC / RBI / RRB / NABARD
 
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#Huge_Discount_on_Pendrive_Courses_Call_9580048004 Flat 60% Discount on Pendrive Courses Click here https://goo.gl/aTFK6Q to know more. Offer Valid till 28th November 2018 Start Live Chat Support https://goo.gl/s68PZ1 Download UPSCIQ Magazine - http://bit.ly/2DH1ZWq || Download All Videos PDFs - https://goo.gl/X8UMwF || Join StudyIQ on Telegram - https://goo.gl/xBR3g8 || UPSC/CSE 2019 - https://goo.gl/UrCD46 SSC & Bank - https://goo.gl/9LQ4Ai UPSC Optionals - https://goo.gl/rtmXRU State PSCs - https://goo.gl/FDB32q Defence Exams - https://goo.gl/UEmtRz SSC JE Exams - https://goo.gl/2WyU1Z RBI Grade B - https://goo.gl/PY32m6 NABARD Grade A - https://goo.gl/C6CzAL DMRC Exams - https://goo.gl/yDnvyf Insurance Exams - https://goo.gl/iLEFxf CLAT 2019 - https://goo.gl/Burjtj Railway Jobs - https://goo.gl/5KaL7h Teaching Jobs - https://goo.gl/q117TX UPSC Prelim 2019Test Series -https://goo.gl/zkCG51 Free PDFs - https://goo.gl/cJufZc || Free Quiz - https://goo.gl/wCxZsy || Free Video Courses - https://goo.gl/jtMKP9" Follow us on Facebook - https://goo.gl/iAhPDJ Telegram - https://t.me/Studyiqeducation The Hindu Editorial Analysis - https://goo.gl/vmvHjG Current Affairs by Dr Gaurav Garg - https://goo.gl/bqfkXe UPSC/IAS Burning Issues analysis- https://goo.gl/2NG7vP World History for UPSC - https://goo.gl/J7DLXv Indian History - https://goo.gl/kVwB79 Follow us on Facebook - https://goo.gl/iAhPDJ Follow Dr Gaurav Garg on Facebook - https://goo.gl/xqLaQm UPSC/IAS past papers questions - https://goo.gl/F5gyWH SSC CGL + IBPS Quantitative tricks - https://goo.gl/C6d9n8 English Vocabulary - https://goo.gl/G9e04H Reasoning tricks for Bank PO + SSC CGL- https://goo.gl/a68WRN Error spotting / Sentence correction https://goo.gl/6RbdjC Static GK complete- https://goo.gl/kB0uAo Complete GK + Current Affairs for all exams- https://goo.gl/MKEoLy World History - UPSC / IAS - https://goo.gl/kwU9jC Learn English for SSC CGL, Bank PO https://goo.gl/MoL2it Science and Technology for UPSC/IAS - https://goo.gl/Jm4h8j Philosophy for UPSC/IAS - https://goo.gl/FH9p3n Yojana Magazine analysis -https://goo.gl/8oK1gy History for SSC CGL + Railways NTPC - https://goo.gl/7939eV
Views: 102738 Study IQ education
Basic Economic Concepts
 
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Basic Economic Concepts
Views: 7816 Jon Miller
Game Theory and Oligopoly: Crash Course Economics #26
 
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Would you like to play a game, Dr. Falken? Actually, this episode isn't really about games, or Matthew Broderick, or Thermonuclear War. But enough with the long references to 1983's best movie, War Games. Today Jacob and Adriene are going to teach you about Oligopolies, which are kind of like the monopolies that we talked about last week, except with more companies involved. Then we'll get to the games, or rather, the game theory. Which is all about how companies try to compete with each other in the real world. 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: 654940 CrashCourse
basic economic concepts
 
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Views: 242 dsharma
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: 373208 CrashCourse
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: 781272 DC Classes
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: 198039 Jason Welker
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: 94722 Jacob Clifford
Free High School Seminars: Discover Economic Principles
 
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Take part in one of the Fraser Institute’s FREE one-day economics field trips for students. This seminar introduces students to economic principles through games, presentations, and curriculum-based activities that reinforce the concepts students are learning in the classroom. For more information and to register for an upcoming student seminar visit www.freehighschoolseminars.org
BASIC ECONOMIC CONCEPTS  MANAGERIAL ECONOMICS
 
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BASIC ECONOMIC CONCEPTS MANAGERIAL ECONOMICS
Views: 96 Shashi Aggarwal
Fundamental Economic Concepts
 
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Scarcity Trade-offs Opportunity Cost 3 Basic Econ Questions 4 Factors of Production 2 Types of Efficiency Value & Utility
Views: 1081 Juan Hernandez
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: 1147570 CrashCourse
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: 693316 Khan Academy
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.
[Audiobook] Economics Concepts and Choices Part 1
 
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Owning the textbook would be an advantage.
Views: 771 vendelin saunders
Money and Finance: Crash Course Economics #11
 
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So, we've been putting off a kind of basic question here. What is money? What is currency? How are the two different. Well, not to give away too much, but money has a few basic functions. It acts as a store of value, a medium of exchange, and as a unit of account. Money isn't just bills and coins. It can be anything that meets these three criteria. In US prisons, apparently, pouches of Mackerel are currency. Yes, mackerel the fish. Paper and coins work as money because they're backed by the government, which is an advantage over mackerel. So, once you've got money, you need finance. We'll talk about borrowing, lending, interest, and stocks and bonds. Also, this episode features a giant zucchini, which Adriene grew in her garden. So that's cool. Special thanks to Dave Hunt for permission to use his PiPhone video. this guy really did make an artisanal smartphone! https://www.youtube.com/watch?v=8eaiNsFhtI8 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: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson -- 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: 655552 CrashCourse

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