Determinants of price elasticity of demand | APⓇ Microeconomics | Khan Academy

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Substitutes, timeframe, income share, luxury vs. necessity and narrowness of market impact price elasticity of demand.

AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.

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[Jayofteror]

Your video was better than my text book. Thank you!!!

[harryspinach]

Great tutorial! When I have some difficulties in class, I always take look at this tutorial, that's so great, and so clear to improve your study.

[garangdchutdeng]

well presented and pretty concise. Great help.

[ilikewhatihearmahn]

My school's rotation system for does not give my teachers enough time to thoroughly explain the topics, so they are kinda always pushing the work to not be behind. But now I am understanding this properly thank you.

[codemathlab]

Very helpful. There's not any video on YouTube like this.

[bineswarbaro]

Thank you sir... I m clear... But there are many more determinants...
1. Substitute
2. Uses
3. Habit
4. Level of Income
5. Position of commodity in budget
6. Price
7. Time
8. Nature of the commodity whether luxury Or necessary...

I mean our teacher gave 10 points but Everything goes in the 5 categories mentioned...

[Alex-xece]

Very easy to follow and helpful. Thanks, Sal and KA team! :)

[sadiamanzoor]

Assalamualaikum sir!finally I found bestest teacher for microeconomics .Easy and understandable method of teaching.plz keep it up.Thanks a

[Balloonblowup]

8.50 I just imagined Sal eating change Hahaha

[jabezmorales]

How about android and apple, Apple's market is narrower because you really have no choice if you want to stay in ios ecosystem but in android that is a bigger market seems to be less elastic, so I'm really confused wether a narrower or broader market is more or less elastic.

[MrKareem]

For free. For everyone. Forever. <3

[violavelvette]

I think the price should be on the x axis as the INdependent variable, and quantity is on the y-axis because it's dependent on change in price. Quantity changes is the output that we are trying to study...

[learnwithtarik]

Many students need to teaching method bangla language, subtitles or lecture in bangla

[ominous_stranger]

You almost said that there are very few substitutes for food, are you from another universe? 🕵️‍♂️