In this video we illustrate and explain the differences between a change in the quantity demanded for a good (which causes a movement along a demand curve) and the change in a good's demand (which causes the entire demand curve to shift).
A demand shifter is a change that shifts the demand curve for a product. One of the demand shifters is buyers' expectations. If a buyer expects the price of a good to go down in the future, they hold off buying it today, so the demand for that good today decreases. On the other hand, if a buyer expects the price to go up in the future, the demand for the good today increases. Explore the role of buyers' expectations as a determinant of demand in this video. Created by Sal Khan.
A common error new economic students make is confusing changes in supply with changes in quantity supplied. A change in quantity supplied is a movement along the supply curve in response to a change in price. A change in supply is a shift of the entire supply curve in response to something besides price.
Previously we looked at what happens to the equilibrium price and quantity in a market if supply or demand change. In this video, we explore what happens when BOTH supply and demand are changing at the same time.
In this video, we explore how changes in a few factors affect the demand curve. Changes in income, population, and consumer preferences cause the entire demand curve to shift. Created by Sal Khan.
Changes in the supply of labor have an effect on the wage rate. The supply of labor shifts when there are changes in the population, changes in preferences and social norms, and changes in wage rates and opportunities in other markets. Learn how to show the effects of changes in labor supply on wage rates in this video.
When supply or demand change, the price and quantity in the market changes. See how a change in demand or supply affects price and quantity in this video. Created by Sal Khan.
Economists who studied the relationship between inflation and unemployment made an important modification to the Phillips curve model with the addition of the long-run Phillips curve (LRPC). When expectations are factored in, and there is enough time to adjust, the Phillips curve is vertical. Explore why in this video.
In this video, learn about how several scenarios affect the aggregate production function and economic growth.
Autarky describes a situation when countries are completely closed to trade. In this video, we explore what happens to the domestic price of a good, consumer surplus, and producer surplus, when an autarkic country opens to trade.
Chapter 11: Restructuring through a bankruptcy. Created by Sal Khan.
Introduction to bankruptcy liquidation (Chapter 7). Created by Sal Khan.
Looking for fastest and largest growing occupations, all in one spot? Our tables show employment projections for the next ten years.
China buys US Bonds. Created by Sal Khan.
China keeps peg but diversifies holdings. Created by Sal Khan.
China Pegs to Dollar to Keep Trade Imbalance. Created by Sal Khan.
Chinese Central Bank Buying Treasuries. Created by Sal Khan.
Chinese inflation. Created by Sal Khan.
As the Rolling Stones song says, "You can't always get what you want." So we make choices. Every day, governments and individuals choose how much money to spend and what to purchase. The January 2013 issue discusses opportunity costs and scarcity and how they effect our spending decisions.
Students research various options for new appliances and make purchasing decisions based not merely on purchase price, but also on energy efficiency, which has implications for the planet AND for longer-term personal finances. Students calculate the "payback period" for the more energy efficient appliance and calculate long-term savings.
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