The Demand Curve

Why does the demand curve slope downward? The demand curve demonstrates how much of a good people are willing to buy at different prices. In this video, we shed light on why people go crazy on Black Friday and, using the demand curve for oil, show how people respond to changes in price.

***TEACHER RESOURCES***

***CONTINUE LEARNING***

An edit at 1:41 - As the price goes down, the quantity demanded increases, not quantity.

00:00 The Demand Curve
00:30 Low prices on Black Friday – What happens?
01:14 Demand Curve for Oil
01:50 High Value Uses
02:11 Low Value Uses

[annaelrick]

No one has explained this as well as you guys in a short video, thank you.

[gialiv]

You are seriously making the life of students of economics so much BETTER and easier! I have lots of fun watching your videos and learning so much in such a short amout of time. It's very effective and you're so professional. THANK YOU A LOT! Keep up the good work ! =)

[chrstmas]

this is what I am searching for years.THANK YOU SIR YOU JUST MADE MY DAY.very clear explanation love your videos keep making and make is love economics

[Simran-xnec]

You guys make economics seem much more interesting! Thank you so much :)

[thekid]

Straightforward, to the point, and clear. I wish all YT videos were this helpful. Many thanks!

[MarginalRevolutionUniversity]

***TEACHER RESOURCES***

***CONTINUE LEARNING***

[EdwardGador]

Wish economics was taught this way back in the university!

[chrish]

thank you for the videos! I feel I will be ahead of the curve come the first day of class!

[AngadSingh-ltvi]

Such a nice way of teaching . He z really a gr8 teacher . I appreciate his way of teaching

[WashingMachineee]

Man, I literally didn't understand what my teacher was saying 🤦‍♀️ TY for making this video ❤

[BengVideo]

Let’s talk about Oil!

*America intensifies*

[null]

For the answer on "what can't melt steel beams", see 2:02

[shorty]

Really enjoy the videos, short and efficient...thank you.

[mbali.lisikobo]

I saw the curve going down and thought that meant less demand hence I was confused. Thanks for making it clear!!❤️☺️

[LS-dxgu]

Thank you for this video. I haven't learned demand curve this way and I found it really useful! Thank you

[vincentsanchez]

This is what i'm searching for. GOOD EXPLANATION❤😍😍

[terrencecooke]

At 1:47, on the graph, if we price $55 a barrel making 5 million barrels, we make $275, 000, 000. Cool. Now, we should only lower the price if we'll make more money doing so (or at least not lose money). At $20 a barrel for 25 million barrels, it makes sense because the revenue is now $500, 000, 000, much more than the $275, 000, 000 at the start. However, at $5 a barrel for 50 million barrels, we only make $250, 000, 000, which is less than the $275 million we started out with. That's poor pricing. The price should be nothing less than $5.50 per barrel at 50 million barrels if we want to not lose money when lowering the price, or else, it doesn't make sense to produce that many barrels.

[observant]

To the people downvoting this: Is there wrong information here or infromation shortened so an important point is missing?

[rafsansketchway]

That's kinda funny how the people just rush towards the store in black Friday, it reminds me a scene from train to Busan zombie rushing lol.
But to say the explanation was amazing 😄

[GS-zxkk]

Step 1. Open Expensive Store
Step 2. Make Sure everyone knows its an expensive store
Step 3. Make It Expensive Until Holidays Thanksgiving to Christmas
Step 4. Have Sale During Holidays
Step 5. Make sure everyone knows its a MASSIVE SALE
Step 6. Hire Security
Step 7. Rake in Dough