This video is bullshit - NOT economics! Economic analysis in no way involves making arbitrary assumptions about the operating costs to running a business. Economic analysis has nothing to do with accounting principles such as calculating unit costs of production (or making blind assumptions as to those numbers).
Economic analysis uses calculus to determine the optimal level of production given the COSTS of capital (K - machinery/tools used by workers) and the COSTS of labor (the wage rate).
Where r u man since 10 or 15 years, if u and the youtube were exist since that period I could be someone else now. I consider you as a treasure to me and my kids. Ahmed from Egypt
Hey guys I have started a channel in order to explain economics, buisiness management, accounting and many other disciplines to you. I try to make my explanations as clear as possible, and hopefully they will help you understand eco better. I can also send you additional workheets, diagrams and charts by e-mail, and help you by anwsering any questions you have. subscribe! Thank you x
@MarcKuehn This is all true... but it's free, and it teaches well. Notice the likes vs dislikes :P it could benefit from all that, but then we might have to pay for them, which would defeat the purpose of these videos.
@gamehero77 It's not "non profit". No rational company would keep operating if they weren't earning profit. Especially, something like a cupcake factory. Also, just because the operating profit is 0, doesn't mean its non profit. It must foresee profits in the future, which is why it doesn't shut the factory down. If the profit continues to remain 0, it will stop running business.
A measure economic understanding is evident in, and synonymous with, how much you agree with Austrian economics.
This sounds a bit too absolute, i know. but i guarantee once you understand Austrian economics, you will see it is effectively atheism in the 1800's, shunned but completely correct.
Please read 'Economics in one lesson' by Hazlitt, and you will know what i mean. i only wish someone told me to read it earlier.
@BlairSantos Because this is ground level economics. Something that they probably teach you in the 9th or 10th grade. Actual economics is way more complicated.
I don't really like robots, b/c doctors keep trying to replace our work w/ robots. What are we supposed to do for work when they keep taking it away from us?
It's totally embarrassing to think a stupid machine can do what paramedics do.
No machine in the world can be as compassionate as a human being, I don't care HOW well it's programmed. And compassion is crucial when caring for trauma patients.
Believe it or not, you can't get most doctors to even see the need for us.
Just a side note, COGS stands for Cost Of Goods Sold, but currently some people use COS which stands for Cost Of Sales, which is more general, since it doesn't restrict our cost to goods sold.
I met a guy who worked w/ high finances. He has an MBA from Princeton and went to MIT like you did.
But he doesn't like to brag about it. I could barely get him to talk about it. I had to keep asking until he finally told me.
He used to work at 1 World Trade Center doing something w/ hedge funds and their profiles. I didn't understand that part and he wouldn't explain it no matter how much I asked for clarification.
He still works w/ finances, but it's in a different area now.
You sir are doing a very profound Public Service for free. It's helped me alot, and I just hope you continue doing this because it helps a lot of people who may not have money for a public education, or just people who find things confusing when their respective teachers say it. You use very easy to understand terminology and I can imagine if my little brother watched your Trig or Calc videos, he'd immediately understand. Wonderful job.
It's fine in an example to toss out a figure for COGS, but really it's a function of your inventory to make cup cakes over some period. Begin with the value of your beginning inventory, then add the cost of inventory purchased and subtract the value of your ending inventory. This change in inventory is your COGS.
Sal, love all your vids, especially on Banking and the various bailout playlists. I just ate them up. You, sir, have gone a long way toward reversing the 'dumbing down' of everyone. :)
why is it only 240p
myztic123 1 month ago
This video is bullshit - NOT economics! Economic analysis in no way involves making arbitrary assumptions about the operating costs to running a business. Economic analysis has nothing to do with accounting principles such as calculating unit costs of production (or making blind assumptions as to those numbers).
Economic analysis uses calculus to determine the optimal level of production given the COSTS of capital (K - machinery/tools used by workers) and the COSTS of labor (the wage rate).
DOHC2L 2 months ago
Comment removed
bIGbUTtHole420 2 months ago in playlist Current Economics
Where r u man since 10 or 15 years, if u and the youtube were exist since that period I could be someone else now. I consider you as a treasure to me and my kids. Ahmed from Egypt
ahmed407 4 months ago
I'm hungry now....
078matthijs 4 months ago
Ben Bernanke hates cupcakes.
quidnick 5 months ago
Maybe I'm cheap, but I'd never pay $2 for a cupcake.
CJKpi 6 months ago in playlist Khan Academy Economics
Hey guys I have started a channel in order to explain economics, buisiness management, accounting and many other disciplines to you. I try to make my explanations as clear as possible, and hopefully they will help you understand eco better. I can also send you additional workheets, diagrams and charts by e-mail, and help you by anwsering any questions you have. subscribe! Thank you x
EcoMadeEasy 6 months ago in playlist Current Economics
@MarcKuehn This is all true... but it's free, and it teaches well. Notice the likes vs dislikes :P it could benefit from all that, but then we might have to pay for them, which would defeat the purpose of these videos.
rokkgod1275 8 months ago
Wow. Great content. If they had added some music would have been cool. Great video thought.
computer54321ful 9 months ago in playlist Current Economics
@computer54321ful Music would be a distraction.
eminentjonfrost 8 months ago
This is a great video! Thanks for making things easy
huntsmanschool 1 year ago
I'd love a non profit cupcake organization!
gamehero77 1 year ago
@gamehero77 It's not "non profit". No rational company would keep operating if they weren't earning profit. Especially, something like a cupcake factory. Also, just because the operating profit is 0, doesn't mean its non profit. It must foresee profits in the future, which is why it doesn't shut the factory down. If the profit continues to remain 0, it will stop running business.
dishapandey91 1 year ago
Perhaps the author should consider writing with pencil and paper, or make it more legible and organized.
lukedude84 1 year ago
@lukedude84 he does
paulceltics 10 months ago
This has been flagged as spam show
A measure economic understanding is evident in, and synonymous with, how much you agree with Austrian economics.
This sounds a bit too absolute, i know. but i guarantee once you understand Austrian economics, you will see it is effectively atheism in the 1800's, shunned but completely correct.
Please read 'Economics in one lesson' by Hazlitt, and you will know what i mean. i only wish someone told me to read it earlier.
CytherLynx 1 year ago
Ohmigod, I have Maths, Bio and Economics test for next week. Im cramming, but i feel good about khanacademy's videos!!
holehguacamoleh 1 year ago
This is so simple, how can there be people making such mistakes?
BlairSantos 1 year ago
@BlairSantos Because this is ground level economics. Something that they probably teach you in the 9th or 10th grade. Actual economics is way more complicated.
dishapandey91 1 year ago
I don't really like robots, b/c doctors keep trying to replace our work w/ robots. What are we supposed to do for work when they keep taking it away from us?
It's totally embarrassing to think a stupid machine can do what paramedics do.
No machine in the world can be as compassionate as a human being, I don't care HOW well it's programmed. And compassion is crucial when caring for trauma patients.
Believe it or not, you can't get most doctors to even see the need for us.
vickiormindyb 1 year ago
Just a side note, COGS stands for Cost Of Goods Sold, but currently some people use COS which stands for Cost Of Sales, which is more general, since it doesn't restrict our cost to goods sold.
dalcde 1 year ago
@dalcde My friend, who used to work at the World Trade Center, calls it COS.
He's usually over my head w/ what he knows. I don't know much about high finance and financial advisers. Everything he does is related to finance.
vickiormindyb 1 year ago
I met a guy who worked w/ high finances. He has an MBA from Princeton and went to MIT like you did.
But he doesn't like to brag about it. I could barely get him to talk about it. I had to keep asking until he finally told me.
He used to work at 1 World Trade Center doing something w/ hedge funds and their profiles. I didn't understand that part and he wouldn't explain it no matter how much I asked for clarification.
He still works w/ finances, but it's in a different area now.
vickiormindyb 1 year ago
You sir are doing a very profound Public Service for free. It's helped me alot, and I just hope you continue doing this because it helps a lot of people who may not have money for a public education, or just people who find things confusing when their respective teachers say it. You use very easy to understand terminology and I can imagine if my little brother watched your Trig or Calc videos, he'd immediately understand. Wonderful job.
MrFreakZtyle 1 year ago
i'm really craving a cupcake now
808sr 1 year ago
It's fine in an example to toss out a figure for COGS, but really it's a function of your inventory to make cup cakes over some period. Begin with the value of your beginning inventory, then add the cost of inventory purchased and subtract the value of your ending inventory. This change in inventory is your COGS.
Sal, love all your vids, especially on Banking and the various bailout playlists. I just ate them up. You, sir, have gone a long way toward reversing the 'dumbing down' of everyone. :)
asbytec 1 year ago
excellent sir please keep it up!
sallu05 1 year ago
THNKS:)
iluvkaka 2 years ago
This has been flagged as spam show
Well, good Ideal!!! we should study and learn from this course...
louielamson2000 2 years ago
Comment removed
louielamson2000 2 years ago
Obama should hire Sal to be his "Economy Czar"
rulfich 2 years ago 8
This has been flagged as spam show
Awesome, but please better handwriting! :D
isnd340 2 years ago
handing checks out to cup cake eaters lol
SaNZiBLe 2 years ago 24
@SaNZiBLe i wouldnt pay $1 for a cupcake...unless the cupcake is ginormous
arian50 1 year ago
This comment has received too many negative votes show
dude needs to invest in a graphics tablet instead of writing with a mouse :)
SoapClawtooth 2 years ago
He is using a graphics tablet, moron.
aegisforex 2 years ago 3
great...ur explanations are too good...keep it up...
gggg1111 2 years ago 11
I wish more people like Khan were running the financial base of this country and ultimately the world. This is very common sense.
caughtupinthematrix 3 years ago 44
In a way I am glad Sal is not running it, otherwise he couldn't do this videos. :)
awesome videos, you make it seem so easy and down to earth.
wrongloop 2 years ago
@caughtupinthematrix I'ts not as simple as this example... sadly...
BlairSantos 1 year ago
@BlairSantos Not as simple as this? If it's harder than this I'm probably a lost cause.
I've watched the video several times and still don't understand it.
I think it's b/c they use numbers that are too large. I can picture 100,000 cupcakes. But not a million.
vickiormindyb 1 year ago
The adherance to the 10 minute clips is really helpful for digestion of material.
Also, when used as a refresher, 10 minutes is not a long time investment.
Tehcarp 3 years ago 10
Comment removed
gosox773 3 years ago 10
Thank you Khan!
murdocdiesel 3 years ago 8
looks like you need a new laptop.
pongman 3 years ago
Video good, but the colours are not as good as in the other videos.
norwayte 3 years ago 7
You're the man Khan, thanks!
KHAAAAAAAN
mkabbz 3 years ago 9
cup cakes are awesome!!!
i wish i had understanding of this last year, haha thanks for the upload!
JoNthaNwU118 3 years ago 5