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Supply, Demand, Price - The Foundations of Wealth - Sample 9Most of us associate wealth with money but real wealth can only be achieved through the production and distribution of goods and services. This sample of a series of ten playful English segments will explain how society evolved in such a way to enable a huge increase in production to be achieved. Of course there were no television cameras or film crews available 10000 years ago to record what happened, so this series uses cartoons to illustrate how things might have been all those years ago! The Foundations of Wealth is designed to help students understand what the subject of Economics is all about. Economic decisions are made every day even though students may not be aware of them.. For example, all of us think about: How will I choose to spend my time today? How will I choose to spend my money? Who made the things I use? How were they made? This series of videos will help explain a great deal about the way in which these decisions are made. www.izzit.org | ||||
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9. Foundations of Demand BasicsIn this video, I demonstrate how to derive a demand curve using indifference curves and budget constraints. The treatment shows the graphical intuition for how to relate demand curves to indifference curves and budget constraints. In Lecture 9A, I demonstrate how to do this generally using calculus. Check out a description of my teaching activities here: www..tonycookson.com/teaching Check out a list of the videos in this series (organized by topic) here: blog.thisyoungeconomist.com | ||||
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