Micro Unit 1 Summary- Basic Economic Concepts

  • 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.
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Comments • 80

  • Lexcorp Investments
    Lexcorp Investments 5 days ago

    How do I get the Review Package?

  • Benjamin Aruani
    Benjamin Aruani 11 days ago

    You‘re a god bro

  • Knowledge Academy BD
    Knowledge Academy BD 11 days ago

    Equilibrium in Monopoly Market in bangla.

  • Knowledge Academy BD
    Knowledge Academy BD 11 days ago


  • Kenneth Dias
    Kenneth Dias 18 days ago

    Damn Mr. Clifford you made me realize how interesting economics is . Honestly I had no idea what it was. It's more than two years and I was struggling in this section after going through this it looks lot more easier. You a beast...

  • Farhad Ahmadzai
    Farhad Ahmadzai 19 days ago

    Oh my God I didn’t know I was still subscribed! To everyone who’s going to take the AP macro exam, this guy helped me get a 4 on the exam I could have gotten a 5 if I paid more attention 😩 but just wanna wish you all luck!

  • Carlos Ruiz
    Carlos Ruiz 23 days ago

    I hate to ask a dummy question. I subscribed but how do I get the ultimate package? it reads that I subscribed and I even put in my email address. How do I get the ultimate package?

  • JonerysStan4life
    JonerysStan4life 23 days ago

    God bless you sir, my midterm is in three hours and im actually hyperventilating rn but you managed to explain everything to me in 30 minutes

  • Catherine T.
    Catherine T. 24 days ago

    I'm on the ultimate review packet but can't find any questions on input/out. The only things that are clickable are the links that take me to this video.

    • Catherine T.
      Catherine T. 22 days ago

      @beginning and ending you can purchase it from his website. Just search up ACDC ultimate review and it should show up.

    • beginning and ending
      beginning and ending 22 days ago

      how did you get the ultimate package

  • Iterum Conare
    Iterum Conare 24 days ago

    Tem BR aqui ?

  • Lastella Palate
    Lastella Palate 28 days ago

    Amazing video Thank you very much may God bles you 🙏🏼

  • Atomoh Godfred
    Atomoh Godfred Month ago

    very simple and understanding. God bless you Mr Cliford

  • marial mabor
    marial mabor Month ago


  • Gema Satria
    Gema Satria Month ago

    I keep repeating 27:20 when he speaks funny!! Hahahaha

  • Mosa Dondolo
    Mosa Dondolo Month ago

    I'm actually from SOUTH AFRICA and this video changed my academic performance to improve.❤✨❤❤❤❤❤


    22:38 oh boy XD LOL

  • Clardo Nestor
    Clardo Nestor Month ago +1

    who's here before they take micro chapter 1 test?

  • Praveen Kumar
    Praveen Kumar Month ago

    sir ,you are assume, could you tell us that how can we get this review packet?

  • ashley lewis
    ashley lewis Month ago

    the best explanation

  • Stuart Thomas
    Stuart Thomas Month ago

    thank you for all of these helpful videos!

  • Rosetta Blake
    Rosetta Blake Month ago

    thanks Jacob. i like the QAD. but you are a speedy gonzales and you might make me start talking at the same speed

    YAMKELA HLOPHE Month ago

    hi this was exiting and awesome,I am struggling to study theory but you just made this simple. Thank you

  • Israe Safaa
    Israe Safaa Month ago

    thank you so much

  • Robin Hamaseb
    Robin Hamaseb Month ago

    recommended books?

  • A Karlin
    A Karlin Month ago

    I'm confused, how do you know that the US should produce the bikes and Aus produce the phones? Please clarify....

  • _ A kunk
    _ A kunk Month ago

    I like your video, it's awesome and quiet from other sound provides a great opportunity to focus 👍

  • Fiaz Anver
    Fiaz Anver Month ago +2

    I hope u do business tooo

  • Marie Mccollough
    Marie Mccollough Month ago

    how do you get the review package

  • stan SKZ, NCT, and THE BOYZ

    im watching this to understand economics for my aca deca competition tmr 💀💀

  • Peter
    Peter 2 months ago

    I should become a professor for Macro/Micro economics and literally just show your videos. Easiest job ever

  • Ora Wilson
    Ora Wilson 2 months ago

    I passed my Econ 302 class, now I'm taking 304.

  • Ora Wilson
    Ora Wilson 2 months ago

    Hi Mr. Clifford, how do I get the packet?

  • Equinoz Official
    Equinoz Official 2 months ago

    Not gonna lie...
    The quick and dirty changed my life.

  • Abdullo Iskandarov
    Abdullo Iskandarov 2 months ago

    man, you are great. it was more useful than my semester))))

  • Grace Anne
    Grace Anne 2 months ago

    Thank you so much I understand now :D

  • Iqra Afridi
    Iqra Afridi 2 months ago

    Pljjjj speak slowly

  • TheInsightfulwriter Gano

    Hello Jacob, how can I contact you? Do you have Instagram please or can I reach you by email? Looking forward to your response thanks.

  • Yad Amin
    Yad Amin 2 months ago

    So helpful! Thank you so much!

  • al guz
    al guz 2 months ago

    When you missed class, but you have options to learn...thanks

  • Harry Pachchala
    Harry Pachchala 2 months ago

    thx your quick and dirty saved me

  • Tanisha Katoch
    Tanisha Katoch 2 months ago +1

    what are the odds of me watching this exactly 4 years later?

  • ajay sanampudi
    ajay sanampudi 3 months ago

    Looking for macroeconomics .

  • Ante Cvitković
    Ante Cvitković 3 months ago

    I do not even have Economy as a class, and still this man explains everything with such deep understanding so eventually I understand it. I would definitely recommend him.

  • Getinet Getinet
    Getinet Getinet 3 months ago

    very good lecture ,thank you sir

  • Noah Kellar
    Noah Kellar 3 months ago

    this man is a God

  • Lera Schreiner
    Lera Schreiner 3 months ago

    The worst part about ACDC Economics is when you have to move on to the next class and you realize that it is going to be so boring. Great job Mr. Clifford keep it going!

  • Esayas Shibeshi
    Esayas Shibeshi 3 months ago

    I participate your Video every day. You are excellent lecturer.

  • Run Scrubs
    Run Scrubs 3 months ago

    If I'm struggling just on the pinky and thumb thing, this final should be a breeze.

  • Harry Gaul
    Harry Gaul 3 months ago

    If you hadn't read any economics books this video wouldn't make any sense since it's taught at blazing speeds. It is a good quick review.

  • Iman
    Iman 3 months ago

    Can anyone tell me should I start with macroeconomic or microeconomics ؟؟

  • Wajid Abdul
    Wajid Abdul 3 months ago

    Hello there, sir Jacob Clifford. I've got very good concepts of economics after watching your lessons. However, my economics teacher has assigned me a challenge, but I've been unable to figure it out. The question is, "If marginal utility of a good goes on declining, and even goes negative, why does a consumer still consumes it beyond saturation point?" If MU is zero, he should stop consuming the good? I need a convincing reply, please. Thanks a lot.

  • Miguel Perez
    Miguel Perez 3 months ago

    What if "Shark Tanks" had an Economics TVclip Channel?? 😂🤣

  • Hira Altaf
    Hira Altaf 4 months ago

    I've an economics exam in 2 days and looks like your videos are going to help me pass it so thank you sm

  • Berke Kütükoğlu
    Berke Kütükoğlu 4 months ago

    Sen olmasan kalmıştık ECON'dan. Kral adamsın taşşağını yerim ❤

  • Dereck Coelho
    Dereck Coelho 4 months ago +1

    Clifford should give lectures to professors on how to keep an audience engaged

  • Sophal Nou
    Sophal Nou 4 months ago

    Thank you for your lesson

  • AbdulGhafor Karimee
    AbdulGhafor Karimee 4 months ago


  • Yulia Geller
    Yulia Geller 4 months ago

    perfect! awesome lectures!

  • Burak Temel
    Burak Temel 4 months ago

    beğenin de bildirim geldikçe dinliyim

  • Burak Temel
    Burak Temel 4 months ago +1

    sene 2019 oldu dinleyenler hala burda mı

  • Metin Can
    Metin Can 4 months ago

    Turkısh subtitles would be nice though :)

  • stella Kyeni
    stella Kyeni 4 months ago +1

    this is a nice lecture .... from kenya

  • Islam Nazier
    Islam Nazier 4 months ago +8

    Hello Jacob, your videos helped me to pass my economics courses for master degree (Microeconomics, Macroeconomics, and International economics). I am a university lecturer and have learned from you how to simplify the economics concepts to my students. This year, I have to teach AP Micro and Macro, Would you please recommend for me some books as well as lesson plans and activities, and answer for past papers? Do you have your own books and notes, I am interested to buy them.
    Thank you again for your amazing effort

  • Edward Dodson
    Edward Dodson 4 months ago

    If only [mainstream, i.e., neoclassical] economics was based on logic. A study of the history of economics as a discipline reveals a much different story, one in which the defense of particular socio-political arrangements and institutions was a primary objective of those who developed the core theoretical framework and models utilized. One of the best books addressing these issues was published in 1994, written by two economics professors (Mason Gaffney and Kris Feder) and an economics analyst in the UK named Fred Harrison. The book is titled "The Corruption of Economics."

    Edward J. Dodson, M.L.A., Director
    School of Cooperative Individualism

  • H K
    H K 4 months ago

    So great video! The teacher is cool! 👍👍 I could understand so clearly

  • Md Motin
    Md Motin 4 months ago

    wow...!!!your video quality is so good and interesting,

  • Kristo Poljakov
    Kristo Poljakov 5 months ago

    Jacob Clifford, why do you ignore artificial scarcity and max smart planned abundance? Why do you lye that there are no free lunches if this course is free, and if we plant e.g. fruit trees everywhere just enough for everyone that makes fruits totally free...?

  • Flamecaller
    Flamecaller 5 months ago

    You came for 22:35

  • Dongxiao Yuan
    Dongxiao Yuan 5 months ago +1

    Helped a University student who is reviewing the final exam

  • Elliott Austin
    Elliott Austin 5 months ago

    Quik and dirtty holy moly

  • Moe Abangir
    Moe Abangir 5 months ago

    too fast!

  • Vranish Media
    Vranish Media 5 months ago

    This guy just gave me a free education on Economics. Thank you!

  • nardiibella jesus's
    nardiibella jesus's 5 months ago

    very helpful. thanks a lot

  • simrat aulakh
    simrat aulakh 5 months ago

    are these videos helpful for 2nd year managerial economic course?

  • Good Gene’s Lifestyle

    This is so great literally helping me pass my eco's module

  • 惊鸿一瞥
    惊鸿一瞥 5 months ago

    It is very hard to study for a Chinese😭

  • elizabeth
    elizabeth 5 months ago

    Soooooo grateful! Thanks!

  • C Paine
    C Paine 5 months ago +1

    I don't know if you are still checking the comments to this video, but I have a question about the Unit 1 Study Guide, Topic 1.4 on Comparative Advantage. Questions 5 thru 7, are those answers correct? Because if they are I just became really confused.

    • Jacob Clifford
      Jacob Clifford  5 months ago +1

      Yes they are correct. The Canada question is an input question

  • LoWbUdGeT gamer
    LoWbUdGeT gamer 5 months ago +1

    i have exams tommorrow just reviewing some videos to get some tips

  • Bardo Munoz
    Bardo Munoz 5 months ago