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In this video, we introduce the field of economics using quotes from the person that many consider to be the "father" of economics: Adam Smith. Topics include the definition of economics, microeconomics, and macroeconomics as a field and the role of assumptions in economic decisionmaking.
Thus, in order to meaningfully compare the changes in GDP over time, it's helpful to calculate "real GDP", which (like nominal GDP) is a measure of the total value of final goods produced but removes the effects of inflation from the GDP number.
The clips are indexed by season, by episode name, by character and by clip length. Most of the clips are under four minutes in length, with many under one minute. Each clip is tagged with relevant economic concepts and has a one-paragraph explanation of the action and its relevance to economics.
The concept of "utility" in economics essentially measures the usefulness or value of something. Economists attempt to quantify utility in various ways. Here, Sal Khan uses the example of scoops of ice cream to illustrate concepts like total utility and marginal utility.
5 maj 2019 · Much of what we study in economics has to do with money and the markets. What are people willing to pay for something? Is one industry doing better than another? What is the economic future of the country or world? These are important questions economists examine and it comes with a few basic terms.
For distance, S and T next to each other means speed multiplied by time. For time, D over S means distance divided by speed. Substitute the values given and process the calculation.
18 paź 2017 · Definition and explanation with diagrams of marginal analysis. Using marginal cost, marginal benefit and marginal utility. Importance of marginal analysis.
