Video Lesson 1: Economics module 2: Negative Externalities
Video Lesson 2:IGCSE Business Studies: Performance Ratios in Accounting
Video Lesson 3: Economics module 5: Wage Determination in labour markets – what are the implications of the presence of monopsonists and trade unions in a labour market?
Video Lesson 4: IGCSE Business Studies: Break Even Charts
Video Lesson 5: Economics module 4: Price Discrimination:
Video Lesson 6: Economics modules 3,5 & 6: The Laffer Curve
Video Lesson 7: Economics module 2: Cobweb Theory and diagram as an explanation of price oscillations in agricultural markets
Video Lesson 8: Economics module 4: Objectives firms may have regarding maximisation of profit, revenue, sales.
Video Lesson 9: Economics module 3: An overview of the module to serve as an introduction
Video Lesson 10:Business Studies Liquidity Ratios – useful for accounting
Video Lesson 11: Marketing Plans – how should IGCSE Business Studies pupils write marketing plans? Here is a video on how to structure those tricky marketing plans…
Video lesson 12: Is Monopoly a bad thing? Relevant for Economics pupils studying module 2 and questioning whether monopoly represents market failure and for those studying monopoly as part of module 4…
Video Lesson 13: will current account deficits on the Balance Of Payments cure themselves by forcing a depreciation of the currency? If so, why hasn’t it happened in the USA? Relevant for pupils studying modules 3 and 6 of the A-Level…
Video Lesson 14: a bit of fun. A collection of outtakes from the recordings of all the above videos…
Video Lesson 15: The Kinked Demand Curve Theory explained… this is for Upper VI pupils studying oligopoly in module 4: Industrial Economics
Video Lesson 16: Opportunity Cost: a must for all new A-Level Economics pupils!
Video Lesson 17: Price Elasticity of Demand. What this essential concept means and how to calculate and interpret PED values.
Video Lesson 18: Price Elasticity of Demand part 2. How PED shows up on graphs and how producer revenue changes following a price change is related to PED.
2 Responses to “Video Lessons”
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October 23rd, 2008 at 8:44 am
Do you have any videos on satisfaction and price utility?
October 29th, 2008 at 5:51 am
Can you please help me understand thi
1. Use the following demand curve to answer the following questions.
a. How would point A be represented as an ordered pair?
b. What type of curve is this?
c. Does this curve show a positive or negative correlation between price and
quantity? Explain.
d. Compute the slope of the D1 between points A and C.
e. What is the slope of D1 between points C and E? Why would you not have to
calculate this answer?
f. What is it called if we move from D1 to D2?
g. How do you know that the slope of D2 is the same as the slope of D1?
2
2. GRAPHICALLY analyse the following scenarios:
a. People often travel to the Caribbean from the USA and the UK to
escape cold weather. Describe what results in the market for Caribbean
hotel rooms during the winter period in the USA and the UK.
b. When war broke out in the Middle East, many markets were affected.
Most of the world’s oil production takes place this region. Describe (i)
what happens in the market for oil; and (ii) what would happen in the
market for sports utility vehicles (SUVs) as a result of the war.
3. Consider a market for trucks. Assume that the demand for trucks is given by:
QD= 60 – 2P + 5Y
where P is price per truck and Y is the income of the buyers.
The supply of trucks is given by:
QS= 30 + 5P – 3W
where W is the price of all the materials needed to produce a truck.
Compute the equilibrium price and equilibrium quantity of trucks bought and sold.
(Hint: Your answers will depend on Y and W)
4. You own a small cinema. You currently charge $5 per ticket for everyone who
comes to your movies. Your friend who took an economics course at university
tells you that there may be a way to increase your total revenue. Given the
demand curves shown, answer the following questions
a. What is your current total revenue for both groups?
b. The elasticity of demand is more elastic in which market?
c. Which market has the more inelastic demand?
d. What is the elasticity of demand between the prices of $5 and $2 in the
adult market? Is this elastic or inelastic? Show your calculations.
e. What is the elasticity of demand between $5 and $3 in the children’s
market? Is this elastic or inelastic? Show your calculations.
f. Given the graphs and what your friend knows about economics, he
recommends you increase the price of adult tickets to $8 each and lower
the price of a child’s ticket to $3. How much could you increase total
revenue if you take his advice? Show your calculations.
5. Assume that a consumer faces the following budget constraints.
a. Assuming that income is the same on both occasions, describe the difference in
relative prices between Panel A and Panel B, i.e., which good has higher price in
each time period.
b. If income in Panel B is 126, what is the price of good X? Show your calculations.
c. If income in Panel A is 84, what is the price of good Y? Show your calculations.
d. Assuming that the price of good X is the same on both occasions, describe the
difference in income and price of good Y between Panel A and Panel B.
if i can get a email address from you i would like to show the corresponding graph to the question via e-mail. thank you in advance! my address is veronathomas1@hotmail.com.
Thanks
Verona