Price of related products and demand | Microeconomics | Khan Academy

How changes in the price of related goods can shift demand

Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course

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[elitetech]

KEY TERMS IN THIS VIDEO:

1.The effect of related goods: The increase or decrease of a related good's price is inversely proportional to a similar goods's price.

If you don't yet understand, let me give you an example. If I sell mechanical pencils at PaperMate, an increase in the cost of BiC mechanical pencils will shift demands to my business. Yay, my business will make more money!

[sanjana]

factors that cause a shift in the demand curve-
complementary goods
substitutes
trends/tastes
wealth
income

[AlexMaday]

This is so awesome! I am really enjoying the microeconomics lectures on khan academy!

[marcoskillian]

THIS VIDOE HAS CHANGED ME FOREVER FOR THE BETTER

[jane]

I'd rather buy Khan's Ebook than kindle or something:) thank you so much!!

[deefees]

What playlist is this in? Sounds very interesting for my final microeconomics!

[rafalpabich]

Bravo, I finally understood S&D !

[MontyPython]

If price changes, you're moving _along_ the curve. The curve only shifts if *_demand_* changes _relative to price._ i.e. more wanting/trying to buy/buy more at the _same_ price(s).

[timfwater]

@deefees He hasn't posted in on his website yet- but he has a microeconomics playlist here on utube with about 20 videos

[aryanrawat]

so it basically is around the concept of elasticity??

[Official_joesfinnest]

I am watching this video in 2025 and I want you to know that you are better than my professor

[MrAiden]

I found this by accident. I am enjoying out in Hawaii @ 2:52am. Lol!
Aloha!

[virendrasingh]

i cannot understand how price increase will shift the demand curve to the right? pls explain!

[NoughNeaux]

Correction: If you have Roku, than Khan Academy is the best thing on TV.

[jameszulme]

it is but if u think about it it's not really better than tv

[deefees]

@timfwater Well actually it is on his website now (saw it yesterday). I like to earn my energy points :D But thanks.

[blueskies_vanszy]

@MrAiden0909 Hahaha! It's 3 am here in Dubai. :P LOL.

[greensman]

Substitute Goods
P(x) goes up, Q(y) goes up & P(x) goes down, Q(y) goes down.

Complementary Goods
P(x) goes up, Q(y) goes down & P(x) goes down, Q(y) goes up.

[UnitedPebbles]

Some guy apply his education from KhanAcadmy at his dad's Shell and now they are bankrupt.
Terrible time, students and or viewers.

[claytonepperson]

Oh my god! Can you make a video without repeating yourself a thousand times! Use video editing to speed your drawing up so you just narrate over that. And if you did that, the lessons would be shorter and we, as students, would be better able to allocate our time. I swear these 5, 8, 12 minute videos shouldn't be taking this long, and most of it is you repeating yourself, not sentences at a time. Words. "Quantity, quantity, quantity, and demanded, demanded, demanded, (as you finish writing it) Quantity demanded" I hate to be mean, but somebody has to point this stuff out.