Government Intervention- Micro Topic 2.8

Hey Econ students! I'm back with new videos to help you learn and love economics. This video explores the effects of government intervention including: price ceilings, price floors, subsidies, and taxes. Make sure that you can draw these effects for yourself and calculate things like: consumer surplus, producer surplus, deadweight loss, and tax revenue. If you need practice, be sure to get the Ultimate Review Packet. It will totally help you out. Thanks for watching. You rock!

The Ultimate Review Packet

Taxes Video

*NOTE* I am not endorsing animal cruelty. I raise chickens and beleive that all animals, including those bred for meat, should be treatted humanely.

The answers to the practice questions are in the comments below. Be sure to let me know how you did.

[JacobAClifford]

The answers to the practice multiple-choice questions are below. Just click on "Read more".



1. D
2. B
3. E
4. D
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[helenyang]

I cannot thank you enough. This is literally a week of content in 7 minutes. Thank you so much.

[rebeccalozano]

the fact I already passed my micro exam with a 4 and got a notification of your video makes me sad 🥺 because of you, I got to achieve a 4 on my microeconomics exams... thank you!

[kevinzhu]

I am concerned that what I learned in a week is just a 7 minutes video instead of a 3hr lecture and 2hr of tut session. However, I realize how much time I am saving up and put them in the right place.

[jean-baptistesay]

you're a legend at my high school, thanks so much for the content

[zarpasuave]

If I get a uni degree it will be 100% bc of this man

[nurcandashdamirova]

Mr Clifford, I staerted loving economics once again with help of you 🤩

[elvisakamu]

God bless this man and his team , Especially this man .

[bhekimasango]

Lol, did you actually bring those chickens on your set? death by laughter... love this. Keep it up.

[melodi]

I feel so horrible for those poor chickens...

[isaacong]

"Floor's up high, ceiling down low!"

[EphesiusSura]

dude shoulda sold his chickens clearly wasn't an economist

[Harshav_INH]

You make really good videos love them all of them keep going👍🏻👍🏻👍🏻

[loide_max]

You've helped me so much, God bless this men🥺

[fahmihussaini]

for subsidy, I can't seem to understand why the supply curve shifts only by that much i.e. new price equilibrium is $15. Why not go down to $10 ($20-$10)? why is the $10 vertical distance only shifts the curve by that much?

Am I also right to say that supply curve shift because subsidy is considered a non-price factor although it does affect the price buyers need to pay?

[mrs.downie]

I got 1, 2, and 4 but missed 3. The correct answer was my second choice but I can't explain why. I guess I need to keep practicing. :)

[GraceBai-jd]

You're a lifesaver Mr Clifford（and woah live chickens.

[nuraqilah]

i want to ask what are the pros and cons of government intervention in the market for necessity goods like egg, fish and chicken. Consider the effects to both consumers and producers.

[petersimwanza]

Um what a good explanation, LoL keep it have understood the things which are failed to understand in class for One month

[yahyamotara]

"No chickens were hurt in the making of this video"