*
01/12/2023 *
Intermediate Microeconomics Varian Workbook Solution – Q4.8, Part 2 (Utility)

https://youtu.be/6GrTz9v40og

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Question: Vanna Boogie likes to have large parties. She also has a strong preference for having exactly as many men as women at her parties. In fact, Vanna’s preferences among parties can be represented by the utility function U (x, y) = min{2x − y, 2y − x} where x is the number of women and y is the number of men at the party. On the graph below, let us try to draw the indifference curve along which Vanna’s utility is 10.

a) Use pencil to draw the locus of points at which x = y. What point on this gives Vanna a utility of 10? Use blue ink to draw the line along which 2y−x=10. When min{2x−y,2y−x}=2y−x, there are (more men than women, more women than men)? Draw a squiggly red line over the part of the blue line for which U(x,y) = min{2x−y,2y−x} = 2y−x. This shows all the combinations that Vanna thinks are just as good as (10, 10) but where there are (more men than women, more women than men)? Now draw a blue line along which 2x − y = 10. Draw a squiggly red line over the part of this new blue line for which min{2x−y,2y−x} = 2x−y. Use pencil to shade in the area on the graph that represents all combinations that Vanna likes at least as well as (10, 10).

(b) Suppose that there are 9 men and 10 women at Vanna’s party. Would Vanna think it was a better party or a worse party if 5 more men came to her party?

(c) If Vanna has 16 women at her party and more men than women, and if she thinks the party is exactly as good as having 10 men and 10 women, how many men does she have at the party? If Vanna has 16 women at her party and more women than men, and if she thinks the party is exactly as good as having 10 men and 10 women, how many men does she have at her party?

(d) Vanna’s indifference curves are shaped like what letter of the alphabet?

The above question is taken from 'Workouts in Intermediate Microeconomics - A Modern Approach' by Hal Varian and Theodore C Bergstrom.

Varian Workbook Q4.8 - Part 2 : Intermediate Microeconomics (Utility)
Whatsapp +91-9560560080 for one-one online Microeconomics, Statistics or Econometrics coaching (Hourly rates starting $35 per hour) Schedule a free discussio...

*
24/11/2023 *
Intermediate Microeconomics Varian Workbook Solution – Q4.8, Part 1 (Utility)

https://youtu.be/fWtdbFIytEc

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Online Coaching Page: https://www.eduspred.com/pages/help-microeconomics-econometrics-statistics-tutor

Question: Vanna Boogie likes to have large parties. She also has a strong preference for having exactly as many men as women at her parties. In fact, Vanna’s preferences among parties can be represented by the utility function U (x, y) = min{2x − y, 2y − x} where x is the number of women and y is the number of men at the party. On the graph below, let us try to draw the indifference curve along which Vanna’s utility is 10.

a) Use pencil to draw the locus of points at which x = y. What point on this gives Vanna a utility of 10? Use blue ink to draw the line along which 2y−x=10. When min{2x−y,2y−x}=2y−x, there are (more men than women, more women than men)? Draw a squiggly red line over the part of the blue line for which U(x,y) = min{2x−y,2y−x} = 2y−x. This shows all the combinations that Vanna thinks are just as good as (10, 10) but where there are (more men than women, more women than men)? Now draw a blue line along which 2x − y = 10. Draw a squiggly red line over the part of this new blue line for which min{2x−y,2y−x} = 2x−y. Use pencil to shade in the area on the graph that represents all combinations that Vanna likes at least as well as (10, 10).

(b) Suppose that there are 9 men and 10 women at Vanna’s party. Would Vanna think it was a better party or a worse party if 5 more men came to her party?

(c) If Vanna has 16 women at her party and more men than women, and if she thinks the party is exactly as good as having 10 men and 10 women, how many men does she have at the party? If Vanna has 16 women at her party and more women than men, and if she thinks the party is exactly as good as having 10 men and 10 women, how many men does she have at her party?

(d) Vanna’s indifference curves are shaped like what letter of the alphabet?

The above question is taken from 'Workouts in Intermediate Microeconomics - A Modern Approach' by Hal Varian and Theodore C Bergstrom.

Varian Workbook Q4.8 - Part 1 : Intermediate Microeconomics (Utility)
Whatsapp +91-9560560080 for one-one online Microeconomics, Statistics or Econometrics coaching (Hourly rates starting $35 per hour) Schedule a free discussio...

*
17/11/2023 *
Intermediate Microeconomics Varian Workbook Solution – Q4.7, Part 3 (Utility)

https://youtu.be/5v2xqBr2Hb8

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

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Question: Harry Mazzola has the utility function U(x1 , x2 ) = min{x1 + 2x2 , 2x1 + x2 }, where x1 is his consumption of corn chips and x2 is his consumption of french fries.

a) On the graph below, use a pencil to draw the locus of points along which x1 + 2x2 = 2x1 + x2. Use blue ink to show the locus of points for which x1 + 2x2 = 12, and also use blue ink to draw the locus of points for which 2x1 + x2 = 12.

b) On the graph you have drawn, shade in the region where both of the following inequalities are satisfied: x1 + 2x2 ≥ 12 and 2x1 + x2 ≥ 12. At the bundle (x1,x2) = (8,2), one sees that 2x1 + x2 = ___ and x1 + 2x2 = ___. Therefore u(8, 2) = ____.

c) Use black ink to sketch in the indifference curve along which Harry’s utility is 12. Use red ink to sketch in the indifference curve along which Harry’s utility is 6. (Hint: Is there anything about Harry Mazzola that reminds you of Mary Granola?)

d) At the point where Harry is consuming 5 units of corn chips and 2 units of french fries, how many units of corn chips would he be willing to trade for one unit of French fries?

The above question is taken from 'Workouts in Intermediate Microeconomics - A Modern Approach' by Hal Varian and Theodore C Bergstrom.

Varian Workbook Q4.7 - Part 3 : Intermediate Microeconomics (Utility)
Whatsapp +91-9560560080 for one-one online Microeconomics, Statistics or Econometrics coaching (Hourly rates starting $35 per hour) Schedule a free discussio...

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11/11/2023 *
Basics of Microeconomics - Price elasticity of demand and its determinants

https://youtu.be/3_Dy8soNUDI

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Online Coaching Page: https://www.eduspred.com/pages/help-microeconomics-econometrics-statistics-tutor

Price elasticity of demand and its determinants
Understand the meaning of price elasticity of demand and the determinants affecting it.

*
10/11/2023 *
Intermediate Microeconomics Varian Workbook Solution – Q4.7, Part 2 (Utility)

https://youtu.be/9g_eoncUUzk

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Online Coaching Page: https://www.eduspred.com/pages/help-microeconomics-econometrics-statistics-tutor

Question: Harry Mazzola has the utility function U(x1 , x2 ) = min{x1 + 2x2 , 2x1 + x2 }, where x1 is his consumption of corn chips and x2 is his consumption of french fries.

a) On the graph below, use a pencil to draw the locus of points along which x1 + 2x2 = 2x1 + x2. Use blue ink to show the locus of points for which x1 + 2x2 = 12, and also use blue ink to draw the locus of points for which 2x1 + x2 = 12.

b) On the graph you have drawn, shade in the region where both of the following inequalities are satisfied: x1 + 2x2 ≥ 12 and 2x1 + x2 ≥ 12. At the bundle (x1,x2) = (8,2), one sees that 2x1 + x2 = ___ and x1 + 2x2 = ___. Therefore u(8, 2) = ____.

c) Use black ink to sketch in the indifference curve along which Harry’s utility is 12. Use red ink to sketch in the indifference curve along which Harry’s utility is 6. (Hint: Is there anything about Harry Mazzola that reminds you of Mary Granola?)

d) At the point where Harry is consuming 5 units of corn chips and 2 units of french fries, how many units of corn chips would he be willing to trade for one unit of French fries?

The above question is taken from 'Workouts in Intermediate Microeconomics - A Modern Approach' by Hal Varian and Theodore C Bergstrom.

Varian Workbook Q4.7 - Part 2 : Intermediate Microeconomics (Utility)
Whatsapp +91-9560560080 for one-one online Microeconomics, Statistics or Econometrics coaching (Hourly rates starting $35 per hour) Schedule a free discussio...

*
10/11/2023 *
Basics of Microeconomics - Consumer, Rational Consumer and Equilibrium

https://youtu.be/gKg0qqPY0wo

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Online Coaching Page: https://www.eduspred.com/pages/help-microeconomics-econometrics-statistics-tutor

Basics of Microeconomics - Consumer, Rational Consumer and Equilibrium

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09/11/2023 *
Basics of Microeconomics: Shifts in Supply Curve

https://youtu.be/ufGQEptD3rI

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Access complete course for FREE: 'Demand and Supply Analysis'

Course Link: https://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism

We will discuss the following topics in this course :

What is Demand?

Do you demand less when the price of a commodity rises.? Yes..? Think again..!

Is your Demand only a function of the price?

What is supply?

What affects the supply of a good in the market?

We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?

This course is not only for the students of Economics but for anyone who has an interest in understanding these powerful mechanisms. It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.

What are the requirements?

No prior knowledge of Economics is required.

What are you going to get from this course?

Understand how the price of a product is determined via Demand and Supply interactions.

Learn how factors like income of consumer, fashion, demographic structure, business location etc can affect the product's sales .

Analyse demand and supply with greater precision.

Start talking basic economics in real life.

Feel more confident to go for further concepts.

Who should take this course?

Economics students, who would like to brush-up these concepts or were not taught these concepts in a detailed manner earlier.

Students from Non-Economics Background, who would like to learn the basics of microeconomics in a simple and intuitive manner .

Consultants, who would like to understand how the market place works so that they could understand the thinking process of the consumers and develop better solutions for their problems.

Marketers and Sales people, who would like to understand the market demand and want to make better decisions.

Shifts in Supply Curve
Get FREE access to the full course: http://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanismThis lecture is a part of a ...

*
08/11/2023 *
Basics of Microeconomics: Movements along a Supply Curve

https://youtu.be/oMHwWBEbXGQ

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Access complete course for FREE: 'Demand and Supply Analysis'

Course Link: https://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism

We will discuss the following topics in this course :

What is Demand?

Do you demand less when the price of a commodity rises.? Yes..? Think again..!

Is your Demand only a function of the price?

What is supply?

What affects the supply of a good in the market?

We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?

This course is not only for the students of Economics but for anyone who has an interest in understanding these powerful mechanisms. It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.

What are the requirements?

No prior knowledge of Economics is required.

What are you going to get from this course?

Understand how the price of a product is determined via Demand and Supply interactions.

Learn how factors like income of consumer, fashion, demographic structure, business location etc can affect the product's sales .

Analyse demand and supply with greater precision.

Start talking basic economics in real life.

Feel more confident to go for further concepts.

Who should take this course?

Economics students, who would like to brush-up these concepts or were not taught these concepts in a detailed manner earlier.

Students from Non-Economics Background, who would like to learn the basics of microeconomics in a simple and intuitive manner .

Consultants, who would like to understand how the market place works so that they could understand the thinking process of the consumers and develop better solutions for their problems.

Marketers and Sales people, who would like to understand the market demand and want to make better decisions.

Movements along a supply curve
Free Course Enrollment on Skillshare using this referral link: https://skl.sh/2LAWgDEWhen you sign up for a Skillshare Premium Membership, not only will you ...

*
07/11/2023 *
Basics of Microeconomics: Law of Supply, Supply Schedule and Supply Curve

https://youtu.be/Z5epOtuBKKc

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Access complete course for FREE: 'Demand and Supply Analysis'

Course Link: https://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism

We will discuss the following topics in this course :

What is Demand?

Do you demand less when the price of a commodity rises.? Yes..? Think again..!

Is your Demand only a function of the price?

What is supply?

What affects the supply of a good in the market?

We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?

This course is not only for the students of Economics but for anyone who has an interest in understanding these powerful mechanisms. It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.

What are the requirements?

No prior knowledge of Economics is required.

What are you going to get from this course?

Understand how the price of a product is determined via Demand and Supply interactions.

Learn how factors like income of consumer, fashion, demographic structure, business location etc can affect the product's sales .

Analyse demand and supply with greater precision.

Start talking basic economics in real life.

Feel more confident to go for further concepts.

Who should take this course?

Economics students, who would like to brush-up these concepts or were not taught these concepts in a detailed manner earlier.

Students from Non-Economics Background, who would like to learn the basics of microeconomics in a simple and intuitive manner .

Consultants, who would like to understand how the market place works so that they could understand the thinking process of the consumers and develop better solutions for their problems.

Marketers and Sales people, who would like to understand the market demand and want to make better decisions.

Law of Supply, Supply Schedule and Supply Curve
Get FREE access to the full course: http://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanismThis lecture is a part of a ...

*
06/11/2023 *
Basics of Microeconomics: Supply and Quantity Supplied

https://youtu.be/f52e2y1sXK8

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Access complete course for FREE: 'Demand and Supply Analysis'

Course Link: https://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism

We will discuss the following topics in this course :

What is Demand?

Do you demand less when the price of a commodity rises.? Yes..? Think again..!

Is your Demand only a function of the price?

What is supply?

What affects the supply of a good in the market?

We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?

This course is not only for the students of Economics but for anyone who has an interest in understanding these powerful mechanisms. It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.

What are the requirements?

No prior knowledge of Economics is required.

What are you going to get from this course?

Understand how the price of a product is determined via Demand and Supply interactions.

Learn how factors like income of consumer, fashion, demographic structure, business location etc can affect the product's sales .

Analyse demand and supply with greater precision.

Start talking basic economics in real life.

Feel more confident to go for further concepts.

Who should take this course?

Economics students, who would like to brush-up these concepts or were not taught these concepts in a detailed manner earlier.

Students from Non-Economics Background, who would like to learn the basics of microeconomics in a simple and intuitive manner .

Consultants, who would like to understand how the market place works so that they could understand the thinking process of the consumers and develop better solutions for their problems.

Marketers and Sales people, who would like to understand the market demand and want to make better decisions.

Supply and Quantity Supplied
Get FREE access to the full course: http://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanismThis lecture is a part of a ...

*
05/11/2023 *
Basics of Microeconomics: Shifts in Demand Curve

https://youtu.be/fSuTKbGOJcw

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Access complete course for FREE: 'Demand and Supply Analysis'

Course Link: https://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism

We will discuss the following topics in this course :

What is Demand?

Do you demand less when the price of a commodity rises.? Yes..? Think again..!

Is your Demand only a function of the price?

What is supply?

What affects the supply of a good in the market?

We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?

This course is not only for the students of Economics but for anyone who has an interest in understanding these powerful mechanisms. It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.

What are the requirements?

No prior knowledge of Economics is required.

What are you going to get from this course?

Understand how the price of a product is determined via Demand and Supply interactions.

Learn how factors like income of consumer, fashion, demographic structure, business location etc can affect the product's sales .

Analyse demand and supply with greater precision.

Start talking basic economics in real life.

Feel more confident to go for further concepts.

Who should take this course?

Economics students, who would like to brush-up these concepts or were not taught these concepts in a detailed manner earlier.

Students from Non-Economics Background, who would like to learn the basics of microeconomics in a simple and intuitive manner .

Consultants, who would like to understand how the market place works so that they could understand the thinking process of the consumers and develop better solutions for their problems.

Marketers and Sales people, who would like to understand the market demand and want to make better decisions.

Shifts in Demand Curve
Get FREE access to the full course: http://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanismThis lecture is a part of a ...

*
04/11/2023 *
Basics of Microeconomics: Movements along a Demand Curve

https://youtu.be/nhjCsAVYA-E

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Access complete course for FREE: 'Demand and Supply Analysis'

Course Link: https://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism

We will discuss the following topics in this course :

What is Demand?

Do you demand less when the price of a commodity rises.? Yes..? Think again..!

Is your Demand only a function of the price?

What is supply?

What affects the supply of a good in the market?

We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?

This course is not only for the students of Economics but for anyone who has an interest in understanding these powerful mechanisms. It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.

What are the requirements?

No prior knowledge of Economics is required.

What are you going to get from this course?

Understand how the price of a product is determined via Demand and Supply interactions.

Learn how factors like income of consumer, fashion, demographic structure, business location etc can affect the product's sales .

Analyse demand and supply with greater precision.

Start talking basic economics in real life.

Feel more confident to go for further concepts.

Who should take this course?

Economics students, who would like to brush-up these concepts or were not taught these concepts in a detailed manner earlier.

Students from Non-Economics Background, who would like to learn the basics of microeconomics in a simple and intuitive manner .

Consultants, who would like to understand how the market place works so that they could understand the thinking process of the consumers and develop better solutions for their problems.

Marketers and Sales people, who would like to understand the market demand and want to make better decisions.

Movements along a demand curve
Free Course Enrollment on Skillshare using this referral link: https://skl.sh/2LAWgDEWhen you sign up for a Skillshare Premium Membership, not only will you ...

*
03/11/2023 *
Intermediate Microeconomics Varian Workbook Solution – Q4.7, Part 1 (Utility)

https://youtu.be/z0fWI8fm2tg

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Online Coaching Page: https://www.eduspred.com/pages/help-microeconomics-econometrics-statistics-tutor

Question: Harry Mazzola has the utility function U(x1 , x2 ) = min{x1 + 2x2 , 2x1 + x2 }, where x1 is his consumption of corn chips and x2 is his consumption of french fries.

a) On the graph below, use a pencil to draw the locus of points along which x1 + 2x2 = 2x1 + x2. Use blue ink to show the locus of points for which x1 + 2x2 = 12, and also use blue ink to draw the locus of points for which 2x1 + x2 = 12.

b) On the graph you have drawn, shade in the region where both of the following inequalities are satisfied: x1 + 2x2 ≥ 12 and 2x1 + x2 ≥ 12. At the bundle (x1,x2) = (8,2), one sees that 2x1 + x2 = ___ and x1 + 2x2 = ___. Therefore u(8, 2) = ____.

c) Use black ink to sketch in the indifference curve along which Harry’s utility is 12. Use red ink to sketch in the indifference curve along which Harry’s utility is 6. (Hint: Is there anything about Harry Mazzola that reminds you of Mary Granola?)

d) At the point where Harry is consuming 5 units of corn chips and 2 units of french fries, how many units of corn chips would he be willing to trade for one unit of French fries?

The above question is taken from 'Workouts in Intermediate Microeconomics - A Modern Approach' by Hal Varian and Theodore C Bergstrom.

Varian Workbook Q4.7 - Part 1 : Intermediate Microeconomics (Utility)
Whatsapp +91-9560560080 for one-one online Microeconomics, Statistics or Econometrics coaching (Hourly rates starting $35 per hour) Schedule a free discussio...

*
03/11/2023 *
Basics of Microeconomics: Individual Demand and Market Demand

https://youtu.be/gHz_w_35rVs

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Access complete course for FREE: 'Demand and Supply Analysis'

Course Link: https://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism

We will discuss the following topics in this course :

What is Demand?

Do you demand less when the price of a commodity rises.? Yes..? Think again..!

Is your Demand only a function of the price?

What is supply?

What affects the supply of a good in the market?

We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?

This course is not only for the students of Economics but for anyone who has an interest in understanding these powerful mechanisms. It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.

What are the requirements?

No prior knowledge of Economics is required.

What are you going to get from this course?

Understand how the price of a product is determined via Demand and Supply interactions.

Learn how factors like income of consumer, fashion, demographic structure, business location etc can affect the product's sales .

Analyse demand and supply with greater precision.

Start talking basic economics in real life.

Feel more confident to go for further concepts.

Who should take this course?

Economics students, who would like to brush-up these concepts or were not taught these concepts in a detailed manner earlier.

Students from Non-Economics Background, who would like to learn the basics of microeconomics in a simple and intuitive manner .

Consultants, who would like to understand how the market place works so that they could understand the thinking process of the consumers and develop better solutions for their problems.

Marketers and Sales people, who would like to understand the market demand and want to make better decisions.

Individual Demand and Market Demand
Free Course Enrollment on Skillshare using this referral link: https://skl.sh/2LAWgDEWhen you sign up for a Skillshare Premium Membership, not only will you ...

*
02/11/2023 *
Basics of Microeconomics: Exceptions to the Law of Demand

https://youtu.be/HCkq4pzMwQg

Whatsapp +91-9560560080 for one-one online microeconomics coaching (Hourly rate starting $35 an hour)

Access complete course for FREE: 'Demand and Supply Analysis'

Course Link: https://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanism

We will discuss the following topics in this course :

What is Demand?

Do you demand less when the price of a commodity rises.? Yes..? Think again..!

Is your Demand only a function of the price?

What is supply?

What affects the supply of a good in the market?

We, as buyers, want to pay as low a price as possible; sellers, on the other hand, want to charge as high a price as possible, seems like there are opposite interests here, then who gets to decide the price?

This course is not only for the students of Economics but for anyone who has an interest in understanding these powerful mechanisms. It is a beginner level course and all the topics and concepts start from scratch, so even if you are not familiar with Economics, you may take this as your first step to understand this powerful subject.

What are the requirements?

No prior knowledge of Economics is required.

What are you going to get from this course?

Understand how the price of a product is determined via Demand and Supply interactions.

Learn how factors like income of consumer, fashion, demographic structure, business location etc can affect the product's sales .

Analyse demand and supply with greater precision.

Start talking basic economics in real life.

Feel more confident to go for further concepts.

Who should take this course?

Economics students, who would like to brush-up these concepts or were not taught these concepts in a detailed manner earlier.

Students from Non-Economics Background, who would like to learn the basics of microeconomics in a simple and intuitive manner .

Consultants, who would like to understand how the market place works so that they could understand the thinking process of the consumers and develop better solutions for their problems.

Marketers and Sales people, who would like to understand the market demand and want to make better decisions.

Exceptions to the Law of Demand
Get FREE access to the full course: http://www.eduspred.com/courses/understand-the-heart-of-economics-demand-and-supply-mechanismThis lecture is a part of a ...