Introduction to economics | Supply, demand, and market equilibrium | Economics | Khan Academy

Learn about some of the key ideas that influenced early economic thinkers, such as Adam Smith, in this video.

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Economics on Khan Academy: Economics is the study of individuals and societies allocate scarce resources. Learn how markets work, how individuals maximize their happiness and firms maximize profits, and how economies grow. We hit the topics you would expect to see in high school and college level introductory economics courses.

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[BADKALOS]

I don't even study economics. I'm studying electrical engineering. I'm here to learn some basic economics that everyone should know.

[skai]

I have a sudden urge to start taking notes.

[schenkerKL]

Thank you KA. All your free education programs benefits people from the 3rd world.

[sonalidamushte]

Hello khan sir, your videos helped me to pass my economics courses for masters degree. I am a b.ed appearing student and have learned from you how to simplify tough economic concept. Your videos are so informative and easy to understand and explain things without sounding boring .
Thank you again for your amazing effort

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나이가 들어감에 따라서 단순히 자신의 분야만 관심을 가져야하는 것이 아닌 다양한 분야에 관심을 가지고 지켜봐야한다는 사실을 깨닫습니다. 그 중 하나인 경제학의 기본에 대해서 잘 설명해주신 좋은 영상이라고 생각됩니다.

[tauseefmohammad]

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Part of the urge comes from the need to make investments in stock market and earn better returns. I think by understanding economics better, not only can we understand the economic and political headlines better, but we can also invest our savings in a far more sensible and a profitable way.

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[nthperson]

Adam Smith also recognized that government had an important responsibility; which is, to establish "a fair field with no favors." Smith understood that part of our nature is to secure privileges when possible, to use financial and political power interchangeably to do so. He warned against the creation of a "rentier" elite and of cartels whose power was to claim what others produced without having to exchange anything in return. Smith understood that the rent of land, of nature, is societal and not individual wealth; he shared with the Physiocrats in France the view that rent was the appropriate source of public revenue, that earned income flows and the capital goods we produce should not be burdened by taxation (i.e., by what we call today "dead weight losses").

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[samwallaceart]

Suddenly realized I have no idea how economics work. Sees Khan Academy has a introductory series on it. Let’s go.

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[thedicebear]

6:00 this could apply also for psychology, learning 2 topics at the same time, hell yea

[Rondadoreronda]

His explanation of Micro and Macro Economics is easy to understand. I think if every business is based on an invisible hand, easy to control it. But among nations they scheme to get more profits. Under such situations Economics seems to be kind of a landmark to lead to better solutions. Once I heard that Economics is drawing fantasy on the panel. This means that an economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today, I wonder. Nice video!

[YuriBo]

This is great! I'm studying economics and having you explain helps a lot!

[FirstPrinciplesBusiness]

Adam Smith additionally recognized that authority had a key component of responsibility; which is, to set up "a impartial field with no favors." Smith understood that component of our nature is to procure privileges when possible, to use financial and political power interchangeably to accomplish so. He warned against the formation of a "rentier" elite and of cartels whose power was to claim what other people generated without having to swap anything in return. Smith understood that the rent of land, of nature, is societal and not individual wealth; he shared with the Physiocrats in French republic the watch that rent was the necessary source of public revenue, that earned earnings flows and the capital goods we build should not be burdened by taxation (i.e., by what we exclaim nowadays "dead weight losses").

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[aisana]

I study English philology, but i started a course of Introduction to Economy. So far i have found it very interesting and would love to learn it deeply

[GeneralMitten]

I enjoyed watching this not for the facts, but for the reason he has a voice which gives me goosebumps!.

[eatcarpet]

Economists are like with many things/people, deciding how a society should function, not explaining how things can be predicted. So why do they ever try to predict anything? Why do they say "If we do this, then our economy will collapse/flourish!", when they're really saying "I think that a society should work like this"?

[AmalZiaSai]

How can a person have such vast knowledge on various subjects that are theoretically independent of each other. What a genius!!! Please tell us how can we achieve this kind of juxtaposed knowledge base?