Supply and Demand: Crash Course Economics #4

In which Adriene Hill and Jacob Clifford teach you about one of the fundamental economic ideas, supply and demand. What is supply and demand? Well, you’ll have to watch the video to really understand it, but it’s kind of important for everything economically. Supply and demand sets prices, and indicates to manufacturers how much to produce. Also, it has a lot to do with strawberries.

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[СергейГалиуллин-пю]

*Main outtakes of this lesson*
1) _Market_ - any place where buyers and sellers meet to exchange goods and services.
a. An owner of a supermarket values the labor of the cashier more than money she pays him.
2) _Price signals_ - the information that markets generate to guide the distribution of the resources.
a. Businesses, and in particular large corporations, are often villainized as _greedy, heartless institutions_, that take advantage of consumers, but if markets are transparent and buyers are free to choose, then businesses will have a hard time making advantage of people.
3) _Supply and demand_.
a. When the price goes up - people buy less, when the price goes down - people buy more.
b.When the price goes up - the farmer wants to produce more, when the price goes down - the farmer wants to produce less.
c. When quantity supplied = quantity demanded, we get equilibrium price of product.
4) Four market behaviors
a. Supply can decrease.
b. Supply can increase.
c. Demand can increase.
d. Demand can decrease.

[lilsimsie]

gotta start with the basics to prepare for this macro exam tomorrow rip

[laurenconrad]

I love the information these guys are giving me. I don't love their attempts at jokes.

[Asrahn]

Supply: Dick picks.

Demand: Virtually none.

Eternal failure of market.

[TechTubeCentral]

I'm sure his high school students think it's badass that he co-hosts a CrashCourse Series.

[korg]

The funniest part of this episode was the cashier making $10/hr. Oh Crash Course, you're so hilarious with your fictional scenarios.

[glidetheglobewithg]

I swear YouTube is a major miracle !! This explained my whole 16 weeks lecture in just 10 mins.. 🙏❤pfft uni

[gabbyavery]

Ima need these to come out a little faster. My Econ teacher is already speeding through these chapters and I started school literally a week and a half ago!

[caseyharrington]

You covered in ten minutes just under what my school taught me in two terms. Now I just need to memorise the model answers for the externals xD

[augusttierney]

I really like this teaching strategy. It's great having someone explain the charts, and the real life examples provided by Adriene makes the show more interesting.

[speaktoithoratio]

The hosts in this video:

"Yo whattup, kids! Check it out, capitalism is so lit! 🔥🔥🔥 Free markets be on fleek! 💯💯💯"

[glorvalmacglorvas]

This series is proving more educational than I first thought it would.

[Malde]

The waste of strawberry on the start made me uncomfortable.

[Valendrs]

"Businesses, and in particular large corporations, are often villanized as greedy, heartless institutions, that take advantage of consumers, but if markets are transparent and buyers are free to choose, then businesses will have a hard time taking advantage of people."

Incomplete. Buyers must also be well informed. Perhaps even too well-informed. Meaning a seller might be completely transparent but buyers may not know many tons of CO2 to produce one widget is unhealthy or out of the ordinary. Buyers may not know the consequences of each choice - and it might be impossible for them to be expert enough in all the factors to make an educated decision.

This is where government needs to step in and create standards that all competitors must meet or beat in the interest of public safety.

[xJediJuicex]

"Its a big day for you, its a big day!" LMMAOOO thanks for that

[larnizzo]

I pay the most attention during the cartoons...

[Campers_Anonymous]

dude! I forgot mark cuban taught econ--- love this guy!! speaks my language for sure. Best help on youtube by far

[thatonerandomguy]

*who is forced to watch this for homeschooling because of the covid-19?*

[marianaalvarezquezada]

Ive started to watch this course of economy 'cause really need to understand it and also 'cause its look like fun. thanks guys

[Cankerbloossom]

As opposed to the one that said they don’t love the jokes in this series, I absolutely love them and I think the way you two act helps to make these videos that much more enjoyable