Supply and Demand Tips- Macro and Micro

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  • Published on Sep 25, 2019
  • What's up. First, thanks for watching my videos. Your rock! Second, I made this video to help you see the big picture. I cover topics like the law of demand, the law of supply, equilibrium, disequilibrium, single-shifts, and double-shifts. I give you a few memory tools and some helpful tips. If you haven't watched my main supply and demand videos yet, please check them out. The links are below. If you need more helpm, check out my Ultimate Review Packet. It is free to start: www.acdcecon.com/review-packet
    Demand- tvclip.biz/video/LwLh6ax0zTE/video.html
    Supply, equilibrium, and disequilibrium- tvclip.biz/video/ewPNugIqCUM/video.html
    Shifters- tvclip.biz/video/V0tIOqU7m-c/video.html
    Double shifts- tvclip.biz/video/K0AQ9rK8MN4/video.html
    Practice Video- tvclip.biz/video/9QSWLmyGpYc/video.html
    Indiana Jones- Econmovies- tvclip.biz/video/N-2mF0rGgUQ/video.html
    Also, I have some NEW stickers that I think you might like. Check them out on my website:
    www.acdcecon.com/shop
    Answer Key
    1. D
    2. B
    3. C
    4. E
    5. D
    6. B
    7. C
    8. Supply shift to the LEFT. Double check that you labelled EVERYTHING including both supply curves, the demand curve, and the new equilibrium P2 and Q2. Also, make sure that you have an arrow!

Comments • 45

  • Andre alert
    Andre alert 25 days ago

    thank you so much Mr Clifford just started Economics and you just made it super easy

  • Random Gamer
    Random Gamer Month ago

    1. D
    2. B
    3. C
    4. E
    5. D
    6. B
    7. C

    these r my answers but i cant see your coment @Jacob Clifford

    • Faith
      Faith Month ago

      On the description box

  • E K
    E K Month ago

    Why question 5 is not E? Also how can it be D?

    • sabo tajé
      sabo tajé 17 days ago

      Because it says what answer is NOT true. In this situation it is answer D

  • yasmin0abdulrahman
    yasmin0abdulrahman 2 months ago

    that is professional and soooo fun yeeeeeah

  • eDoll
    eDoll 2 months ago +5

    If anyone is looking for the answers, they're actually in the video description

  • Hao-Wei Hsu
    Hao-Wei Hsu 2 months ago

    BEST ECON CHANNEL! Relying on you to pass my university exams ahhaa. Keep making them videos!

  • Martinho Paour
    Martinho Paour 2 months ago +1

    Thanks u so much for this! Had a great grade last year due to ur videos!!

  • Wing Lee Cheng
    Wing Lee Cheng 2 months ago +1

    Mr.Clifford, You are saving the world!! I am a student from Hong Kong who are studying economics in university. Your videos definitely helps me a lot to understand the concepts. Thank you so much!!

    • Julie Nelson
      Julie Nelson Month ago

      Or at least my GPA. I have a 3.74, but a 78% in my Econ class. Our professor spends 30 minutes out of every class telling us we are losers and failures for going to a Community College... joke is on him. He is so bad he can only teach at a Community College. These videos are finally making Econ makes sense. Hopefully, with the help of these videos I will do better on my second test

  • Wing Lee Cheng
    Wing Lee Cheng 2 months ago

    Mr.Clifford, You are saving the world!! I am a student from Hong Kong who are studying economics in university. Your videos definitely helps me a lot to understand the concepts. Thank you so much!!

  • Wing Lee Cheng
    Wing Lee Cheng 2 months ago

    Mr.Clifford, You are saving the world!! I am a student from Hong Kong who are studying economics in university. Your videos definitely helps me a lot to understand the concepts. Thank you so much!!

  • Mr. Franco Athos
    Mr. Franco Athos 2 months ago

    Interesante vídeo...♫♫
    felicidades mi estimado Jacob ...♫♫♫♪♪♪♪
    que tengas un feliz fin de semana....♫♪♪♪♪

  • GAMER OF ASIA (XD)
    GAMER OF ASIA (XD) 2 months ago

    D
    A
    B
    B
    D
    B
    C

  • Nerds and Books
    Nerds and Books 2 months ago

    got 6 right

  • Negina Samadi
    Negina Samadi 2 months ago

    Hello sir, can you make a quick summary of managerial economics? I need it so much.

  • Card Deceptionist
    Card Deceptionist 2 months ago +5

    where are the answers

  • Helmut E
    Helmut E 2 months ago +2

    the greatest teacher ! Thank you Sir for your passion !

  • Averageplant 1
    Averageplant 1 2 months ago +3

    Are you going to make a gaming channel

  • siddhartha jain
    siddhartha jain 2 months ago

    1 - D
    2 - E
    3 - C
    4 - E
    5 - C
    6 - C
    7 - B.
    These can be wrong.

    • Musical Inquisitor
      Musical Inquisitor 2 months ago

      6 is B. Since demand has increased _during_ power outages, passing laws of non-increase in price will result in a shortage, according to the supply and demand. Prices must remain below the equilibrium if this law were passed.
      7 is C. If apples are substitute goods of oranges, then the increase in price will result in an increase in demand along with an increase in the equilibrium price, according to the supply and demand graph.

    • Musical Inquisitor
      Musical Inquisitor 2 months ago

      @Diego Romero The answer to 2 is B, not D. The cost of labor decreases. Therefore, the amount made will increase -- supply increases.

    • Diego Romero
      Diego Romero 2 months ago

      siddhartha jain 2-D

    • MrFreebie
      MrFreebie 2 months ago +1

      Number 5 is D

  • carotte tang
    carotte tang 2 months ago +1

    Dude you’re so funny thank you for your videos!

  • Oden Petersen
    Oden Petersen 2 months ago

    What was the answer to question 5?

  • Anime の Randomness
    Anime の Randomness 2 months ago +10

    Demand shifters
    1. Tastes and preferences
    2. Number of consumers
    3. Income
    4. Price of related goods
    5. Expectations
    Shifters of supply
    1. Price of inputs
    2. Number of producers
    3. Technology
    4. Taxes and Subsidies
    5. Expectations

  • Jerry Rozario
    Jerry Rozario 2 months ago +1

    Sir I love your videos! Keep it up!!

  • Angel Lino
    Angel Lino 2 months ago +2

    Micro is better than Macro: Change my mind

    • siddhartha jain
      siddhartha jain 2 months ago

      The Big Short movie.

    • Glenn Watson
      Glenn Watson 2 months ago

      Micro is boring because it is so uncontroversial. Macro is new and not always settled. That makes it more interesting.

      You can argue about different macro theories. Micro is settled.

      Its like the difference between checkers and chess.

      The only thing interesting about micro is game theory.

  • Grady Willson
    Grady Willson 2 months ago +15

    Bless your soul I have my Econ midterm tomorrow

    • Grady Willson
      Grady Willson 2 months ago +2

      Update: so I picked the class up two weeks into the semester so I was really behind but thanks to your videos I’m pretty sure I killed that exam ty!

  • Mudassir Sheikh
    Mudassir Sheikh 2 months ago +2

    Where are the answers

    • Jacob Clifford
      Jacob Clifford  2 months ago

      @eDoll Ok. Look in the description.

    • eDoll
      eDoll 2 months ago

      @Jacob Clifford Yeah, the answers are missing...

      Maybe they got deleted somehow?

      Edit: he actually posted them in the description

    • Doaa Nabwy
      Doaa Nabwy 2 months ago

      @Jacob Clifford there is no comment with answers ...could u plz rewrite it ?

    • Monica Ruiz
      Monica Ruiz 2 months ago

      @Jacob Clifford there's only 9 comments and you arent one

    • Mudassir Sheikh
      Mudassir Sheikh 2 months ago +1

      Jacob btw “You” are a legend in Dubai

  • Jacob Clifford
    Jacob Clifford  2 months ago +2

    The answers to the practice multiple-choice questions are below. Just click on "Read more".

    1. D
    2. B
    3. C
    4. E
    5. D
    6. B
    7. C
    8. Supply shift to the LEFT. Double check that you labelled EVERYTHING including both supply curves, the demand curve, and the new equilibrium P2 and Q2. Also, make sure that you have an arrow!
    How to get the Ultimate Review Packet
    Step 1: Go to: ​acdcecon.thinkific.com​ ​
    Step 2: Create a free account
    Step 3: Enroll in the free version of the MACROeconomics packet (either AP or College)
    Note Teachers- Do not print any of the packet and give it to your students. This is NOT for in-class use. If you are interested in getting worksheets for your class, please go to my website: ​www.acdcecon.com/bulk-discount​ ​

  • Figs.
    Figs. 2 months ago +4

    eyyyyy notification squad is here XD

  • Mark Sanderson
    Mark Sanderson 2 months ago +2

    My main man 💛😍