How To Understand Elasticity (Economics)

Elasticity is a super important topic in economics, but it can be hard to grasp. In this video, I show you the intuition behind elasticity and why it's something economists care so much about. The demonstration will help you understand the price elasticity of demand, cross-price elasticity of demand, elasticity of supply, income elasticity, and all others!

Good companion video with Mankiw, Cowen and Tabarrok, or any other introductory economics or microeconomics course.

#economics #apeconomy

[veranazirova]

I kept rereading my textbook, was super confused. This explained it to me perfectly. Thanks so much. You saved my end of semester grade x

[amymantilla]

I just found your videos because I'm going to be an economics major for undergrad starting this summer and wanted to have a small head start. Your videos are so interesting and I feel like they're going to help me so much! Thank you for making this type of content

[olxxa]

learned it for a semester at university and never understood it. And wow, I didn't know that I could understood it in just 6-5min.

Thank you. I loved the comparaison. That way of learning is so much fun.

[asian_mando]

You're a damn life saver! I've been trying to understand this concept in my MBA program for the past two weeks, and it just "clicked" after watching your video! Subscribed and recommended to my fellow MBA homies!

[raventimmy]

Dude, thank you for making this video. I just started a macroeconomics class with online schooling. Your video helped me understand elasticity so much better than reading the material. I greatly appreciate videos like this and those that post them. without them I would be more confused with no way to better understand. Thank you again.

[b.cdrisk]

Thank God for people like you who make complicated subjects simple

[mackenziecolebrook]

I really struggled with this but your video helped. Thank you!

[haddielawler]

I am taking econ and having a hard time understanding the concepts but this video along with many others have really helped. Thank you!

[thymetime]

THANK YOU for making this concept understandable! Saved me so much confusion in Economics class!

[jakepitner]

This is fantastic! Thanks so much for sharing your knowledge and being able to communicate it in such an effective way.

[MikeAlcazaren]

awesome video. as a mechanical engineer turned product manager - this is the visual representation that i love

[maggiemassey]

Thank you for a great breakdown! I have always struggled to fully understand elasticity

[RachelGrayM]

Great point about comparing the value in job offers I haven’t heard this discussed as much

[bhanugarg]

Sir, your great, in a very short period you made this concept very easy

[francinemulumba]

As an econ student thank you so much this is well explained

[lukefreund]

Now let’s hope I don’t fail my Econ test tomorrow

[gratitute]

Excellent job. Shared it with my students.

[xfbgmx]

Great visual representation on how this all works. Really helped sum up the concept of elasticity vs inelasticity

[cherthornhill]

Thank you massively. Elasticity seems almost obvious when I hear you explain it. I'm very grateful for your video. I'll try to access the other elasticity ones too.

[mylesbutler]

Thank you!!! I'm having my Economics Final tomorrow and this really helped!!!