Indifference Curves - Income and Substitution Effects for Normal Goods I A Level and IB Economics

In this revision video we work through how to show the substitution and income effects arising from a fall in the market price of a product, in our example we see why people are likely to buy more fresh oranges when their price goes down. ​

#aqaeconomics #ibeconomics #edexceleconomics #cieeconomics #ocreconomics

[isaacottley]

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[hobispreciouseusmile]

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[niveditacavuturi]

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[TheFireball]

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[blackhairverse]

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[natalieseneviratne]

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[kylelowryanddemarderozan]

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[bvsokjo]

Thank you so much for helping me at the last minute. i have an examination coming up and i was really very confused with this concept.

[MaryChihana-bvrh]

Nyc the video has increased my understanding from the topic

[dr.swapnilsoni]

CLEARLY explained!
Question: Perfectly complementary goods are also Perfectly not Substitutable goods? I am referring to L-shaped indifferent curve here. Pl clarify!!

[ifeojo]

thank you. This helped me understand a topic that I've never been able to grasp

[carlyapp]

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[umealajekwuchinemelum]

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[stefanospapalysandrou]

Salute to this man! Great Explanation! :)

[MrSkatefuture]

This was incredibly well explained! thank you for that!

[TickleMyFunnyBone]

Best explanation out there! Thank you so much!

[rdv]

Thank you! How do we know which effect is greater?

[GlambyPragya]

Indifference curve for normal good will be convex ?

[livewireredb.]

Is the movement from A to B considered the law of diminishing marginal utility seeing as bananas were given up for more oranges?

[ygychwy]

If income rises then surely the demand for bananas also increase, assuming bananas are normal goods. If both are normal goods then should we expect to see a rise in quantity for both goods?