Examining the two extremes of elasticity, perfectly elastic and perfectly inelastic demand, …
Examining the two extremes of elasticity, perfectly elastic and perfectly inelastic demand, can help us beter understand the intuition behind this measure. Created by Sal Khan.
Bankruptcy is the situation is when a person or other economic agent …
Bankruptcy is the situation is when a person or other economic agent that owes more money than they will be able to pay back. In the United States, people who declare personal bankruptcy can do so under two provisions of the United States Bankruptcy Code, Chapter 7 or Chapter 13. Under the provisions of Chapter 13, some kinds of debt are restructured so that at least some of the debts are repaid. However under Chapter 7, some kind of debts are completely eliminated. In this video, we explore some of the differences between Chapter 7 or Chapter 13 bankruptcies, and some of the considerations when people consider these forms of bankruptcy need to think about. Created by Sal Khan.
In 1958, economist Bill Phillips described an apparent inverse relationship between unemployment …
In 1958, economist Bill Phillips described an apparent inverse relationship between unemployment and inflation. Later economists researching this idea dubbed this relationship the "Phillips Curve". Learn about the curve that launched a thousand macroeconomic debates in this video. Created by Sal Khan.
Overview of photosynthesis. What photosynthesis accomplishes, why it's important, and how the …
Overview of photosynthesis. What photosynthesis accomplishes, why it's important, and how the light-dependent and light-independent reactions work together. Photosynthesis is usually represented by the equation 6 CO2 + 6 H2O + light --> C6H12O6 + 6 O2. During this process, organisms such as plants go through the light-dependent and light-independent reactions to convert carbon dioxide and water into sugars and oxygen. Created by Sal Khan.
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