thank you sir for your help, i've been trying to clear my 1st yr. micro eco and 2nd yr. macro eco since 2008. but lets hope, your tutorial will help me to clear this time ;)
Productivity is a result of Efficiency, and not energy efficiency like some are talking right now, but COMPLETE Efficiency...if you don't know the Baselines of your business how can you improve it?... if your Equipment isn't kept and operated properly how can you depend on it?...if your organization has no effective worker’s communication & training how can you get people to do the right things?...get it? Process, Equipment, Personnel, the core elements... get the Industrial Efficiency Triangle.
@pajholden It was really fantastic explanation of opportunity cost, but one thing you mentioned wrong is when you were explaining about cheese and wool. The amount of wool that is given up for making a lot of cheese is not the the down part scale, but upper part scale is the amount you're giving up.
I could only lean on one example of OC but now I see that it also applies to production and manufacturing lines. It's like I had been living in a flat earth before this video.
I dont get it when he says the opportunity cost for OX is YZ. Because if we are doing OX amount of work we are also doing OY amount of play, hence the opportunity cost for OX 'and' OY is YZ. isn't it???
It's 01:20 on the day of my Business Economics exam, and your online lectures are helping me make sense of my notes!! Thank-you. Do you have any of your stand-up on YouTube??
for the first time in my life I understand the true meaning of opportunity cost, its been like a fabble all these yrs.God bless you I like your teaching
for the first time in my life I understand the true meaning of opportunity cost, its been like a fabble all these yrs.God bless you I like your teaching
While revising for my exams last year I remember watching a video where you talk about deflation and it's relationship with monetary policy however now when I am revising for another batch of exams I can't seem to find it...do you know what video I'm referring to and if so could you let me know what it was...If not I need to lay of the crack.
While revising for my exams last year I remember watching a video where you talk about deflation and it's relationship with monetary policy however now when I am revising for another batch of exams I can't seem to find it...do you know what video I'm referring to and if so could you let me know what it was...If not I need to lay of the crack.
he's a great teacher i guess. i want him to be my economy teacher :p he explain it clearly and now i understand about opportunity cost. thankyou very much, sir :D
THIS MAN IS SO GOOD, INFACT I UNDERSTAND HIS PATTERN OF EXPLAINING HIS SUBJECT BETTER THAN MY LECTURE IN THE UNIVERSITY.
YOU SHOULD PLS COME BACK TO THE UK. YOU ARE REALLY TALENTED IN TEACHING. YOU ARE REALLY MAKING A DIFFERENT IN OUR STUDIES. PLS KEEP IT UP, AND MORE OF YOUR LECTURE, AND LOOKING FORWARD FOR YOUR WORKSHOP INTHE UK. TOSNEL............
@Tosnel Hi - thank you for your kind comments. I used to work in the UK. I was a stand-up comedian for a year, then got into teaching. I taught in a tiny language school in a mountain town in Arcadia, Greece for a year, fell in love with teaching and Greece, came back to the UK and taught History for three years in state schools in Dagenham and Morecambe. But Greece was in my blood by then, and kept calling me back, so I moved to Athens permanently in 1996.
Mr.Phil, you are absolutely fantastic! Thank you for sharing with us these complicated concepts...that you succed to present in such an easy and simplistic manner! Congratulationes for all your videos! A huge fan, G.
Mr. Phil , you are absolutely fantastic! Thank you so much for sharing with us these complicated concepts...that you succed to present them in such an easy and simplistic manner! Congratulationes for all your videos! A huge fan, G.
Can I get help from your videos in complex calculations of Economics?
Optimal price and the likes.
I mean I get the concept right and can do simple problems but the in complex problems, I'm always seeking the senior's help. can you help in this regard?
THANK YOU SIR! You should be my teacher!!! I am doing Economics for the first time in A levels and my teacher has already made it clear tha she will only teach us the basics and we will have to get into the depths ourselves :| I am quite bad at anwering questions or exam type case studies. Will you be able to make a video on writing modal answers? Thank you. :)
From 2:28 - you change the linear line into a concave. This is wrong. In reality it depends on what activities you do. The idea of concave curve came from Macro Economics based on the unskilled labour to move quicly.
Take for instance cooking. To prepare one dish in a bigger quantity is much more productive than 2 kinds of dishes, so in that case the curve is convex, not even linear. You need to be much more knowledgeable on the activities you are actually drawing a concave curve on.
@csurmi22 A convex PPF? Thats the 1st time i have heard bout it.....If possible will you make a vid bout it? I really suck at econs but i am willing to learn more.....So can you?
No kind action ever stops with itself. One kind action leads to another. Good example is followed. A single act of kindness throws out roots in all directions, and the roots spring up and make new trees. The greatest work that kindness does to others is that it makes them kind themselves. Stay blessed in all you do, D
In reality wouldn't the curve be convex rather than concave?
The first unit of cheese would be very expensive to produce due to start up costs so you'd be giving a lot wool to produce a small amount of cheese. The last unit would be very cheap so you wouldn't have to give up much.
Great video, but one question. Why is the line sometimes curved and not always straight? What causes this? Is there a way to evaluate the dimension of this curve? It seems that one must know how much this curve is... curved, to make a good decision with opportunity cost.
Because there are fixed/variable costs one must pay off in order to start producing something. The work/play graph doesn't have to consider any extra fixed/variable costs.
what about the subjective theory of value; does a government, a firm, or any other group of individuals make a decision in the same way as a single individual. how do we add up individual opportunity costs?
wow this is funny im doing my last year of A levels and i didnt even think to look for help on youtube. I will start checking out a level help on youtube for my last exam :d
Hey pergolas123 Thanks for pointing out my mistake! It is from the 999th unit to the 100th unit of cheese you have to give a large amount of wool. It got me all confused back then.
So can I say that the opportunity cost of producing 999 units of cheese from 0 WOULD BE the large length on top?
I'm currently in an econ class for the first time and I really want to understand what I'm doing. I hope you post more of these videos for other concepts such as "The Short Run vs The Long Run" and "Market Types"
Nice Video. Check out TubeViews (dotnet) If you need your video exposed, It has really helped me a bunch. Be blessed!
Have you heard of this program that actually send thousands of text messages advertising your business for you, i think the url is w w w . a u t o t e x t s e n d e r . c o m
lets say there is a partnership of two people, A&B. both are 50% partners in the business. For some reason the partner A wants to take over the business and remove partner B from the same. He is willing to give partner B his due share of the partnership value. But partner B feels that he is entitled to some opportunity cost in this case, as he is not leaving this partnership willingly. What is the basis on which B should claim opportunity cost from A? is there any set formula for such a case?
You won a free ticket to see an Eric Clapton concert (which has no resale value). Bob Dylan is performing on the same night and is your next-best alternative activity. Tickets to see Dylan cost $40. On any given day, you would be willing to pay up to $50 to see Dylan. Assume there are no other costs of seeing either performer.
Based on this information, the opportunity cost of seeing Eric Clapton would be $0?
4th grade??? My daughter Emily, 8 years old, is fourth grade. They definitely don't study economics yet! What school does your son go to? The J.M.Keynes Prep school for infant prodigies? Glad it helped. Next year, when he does triple-axis dynamic efficiency path-modelling in three stakeholder employment contract negotiations, ask him to call me so he can explain it to me! Thanks for watching.
Thank you for this video! It helped me with my son's 4th grade homework! I sure don't remember learning this in 4th grade! AHHHH!!! Thank you, you saved the day!
you explained this better in 5 minutes than my instructor was able to do in 6 weeks... and 90% of the class still doesn't get it. Opportunity Cost is the item not chosen or sacrificed. Please post more on Microeconomics.
are there any serious theories as to why (or when at times) people dont pick the best opportunity cost? [admittedly not everyone makes the best choices when faced with them]
People always pick the "best" oportunity cost. But you can not judge if these are the best. That is caused by the utility and the utility of a decission is a personal aspect of the individual
I would like to say thank you very much sir I am struggling in econ and you have helped me out a little bit with your video! Cheers~
batmannn111 3 days ago
I still dont get it :(
luisrock2008 1 week ago
This has been flagged as spam show
thank you. I can understand it now.
amerjamel 3 weeks ago
thankyou thankyou thankyou ! :D
ditt0o0 1 month ago
Excellent. I can understand it better now. Thank you!
chidoTV 1 month ago
Exam tomorrow! thankyou, these really help!
xL1LT1G3Rx 1 month ago
i want my college economics teacher fired after seeing there videos.
IKMusic16 1 month ago
Thanks very much! Great video. Helped in my revision ready for my exam in 5 days!
JordanCarter21 1 month ago
This is an excellent video. It helped me out a lot with my homework Well done
ZachGirod 1 month ago
It's really nice to see that someone really knows how to teach....bravo...keep the good work. Greetings from Serbia.
MrCvelle 1 month ago
thank you sir for your help, i've been trying to clear my 1st yr. micro eco and 2nd yr. macro eco since 2008. but lets hope, your tutorial will help me to clear this time ;)
tanveerahmed8847 2 months ago
Thanks sir!
TheEpicTori 2 months ago
Productivity is a result of Efficiency, and not energy efficiency like some are talking right now, but COMPLETE Efficiency...if you don't know the Baselines of your business how can you improve it?... if your Equipment isn't kept and operated properly how can you depend on it?...if your organization has no effective worker’s communication & training how can you get people to do the right things?...get it? Process, Equipment, Personnel, the core elements... get the Industrial Efficiency Triangle.
luistpuig 4 months ago
Omg this was so helpful! I didn't get it the whole lesson we did on it and when he mentioned it after! Thank you somuch!!
Phantom9442 4 months ago
thumbs up you rock man ~ my lecturer recommended us to watch you teachings is was wonderful ~
yukkiandsnow 4 months ago
@pajholden It was really fantastic explanation of opportunity cost, but one thing you mentioned wrong is when you were explaining about cheese and wool. The amount of wool that is given up for making a lot of cheese is not the the down part scale, but upper part scale is the amount you're giving up.
MovieMania126 4 months ago
not bad
manhoola 4 months ago
Thank u very very much
i have a microeconomics exam tommorow and i missed this concept
man u r amazing easy ways to explain thnks :D
vivapalestine93 5 months ago
Thank you so very much for your amazing work! You have no idea how much you have helped us. You are a true hero!
Johgim 5 months ago
These videos are helping me pass my college economics course! Thank you so much!
GuitarSlinginMachine 5 months ago
I could only lean on one example of OC but now I see that it also applies to production and manufacturing lines. It's like I had been living in a flat earth before this video.
magaan4717 7 months ago
I dont get it when he says the opportunity cost for OX is YZ. Because if we are doing OX amount of work we are also doing OY amount of play, hence the opportunity cost for OX 'and' OY is YZ. isn't it???
mukerjeewise 7 months ago
@mukerjeewise No. OC is "what's given up when a choice is made" You give up YZ-Play so that you can OX-Work.
hottestbrand 7 months ago
PHIL HOLDEN, is the best teacher ive ever and never hadd !
your AMAZING ! i was hating economics, but the minute i watch your videos, i fall back in loveeee !
athnsteph 8 months ago 2
It's 01:20 on the day of my Business Economics exam, and your online lectures are helping me make sense of my notes!! Thank-you. Do you have any of your stand-up on YouTube??
danpharris1 8 months ago
Thanks, this is a very clear video and a great example...
eslweb 8 months ago
greatest ending to an economics video ever!
bragaw1 8 months ago
for the first time in my life I understand the true meaning of opportunity cost, its been like a fabble all these yrs.God bless you I like your teaching
Tonyginx1 8 months ago
for the first time in my life I understand the true meaning of opportunity cost, its been like a fabble all these yrs.God bless you I like your teaching
Tonyginx1 8 months ago
i wish he would be my professor.....he got clarity in voice and a wit to convience his ideas
MrGurung77 8 months ago
This has been flagged as spam show
Hi Phil,
While revising for my exams last year I remember watching a video where you talk about deflation and it's relationship with monetary policy however now when I am revising for another batch of exams I can't seem to find it...do you know what video I'm referring to and if so could you let me know what it was...If not I need to lay of the crack.
Cheers.
bowers1029 9 months ago
Hi Phil,
While revising for my exams last year I remember watching a video where you talk about deflation and it's relationship with monetary policy however now when I am revising for another batch of exams I can't seem to find it...do you know what video I'm referring to and if so could you let me know what it was...If not I need to lay of the crack.
Cheers.
bowers1029 9 months ago
I think you should create an economics guide and publish! it would be a bestseller!
MrLSevens 9 months ago
Million thanks from India
rahulsharadshinde 9 months ago
Wow, this guy has tact, he places himself in the students shoes and explains as he would like to be taught, he is a master teacher!!!
p.s. Thank you for C L E A R lessons
todaslasmujeres 9 months ago
Getting freshers through exams since 2008.
BuenosAiresBand 9 months ago
hèh_Î_fêÉl_s0_lØÑÈlY_todÃý
BibiyyJennieei535 10 months ago
awesome video and i have an assessment about that,,, can you give me some examples please.. thank you
winterx6 10 months ago
he's a great teacher i guess. i want him to be my economy teacher :p he explain it clearly and now i understand about opportunity cost. thankyou very much, sir :D
jag7lavigne 11 months ago
Thank you very much for posting this,really helpful
TheFutureChampion 11 months ago
This has been flagged as spam show
i dont want to work
AhYaOk 11 months ago
why opportunity costs should be included in capital budgeting analysis?
kattyphan81 1 year ago
THIS MAN IS SO GOOD, INFACT I UNDERSTAND HIS PATTERN OF EXPLAINING HIS SUBJECT BETTER THAN MY LECTURE IN THE UNIVERSITY.
YOU SHOULD PLS COME BACK TO THE UK. YOU ARE REALLY TALENTED IN TEACHING. YOU ARE REALLY MAKING A DIFFERENT IN OUR STUDIES. PLS KEEP IT UP, AND MORE OF YOUR LECTURE, AND LOOKING FORWARD FOR YOUR WORKSHOP INTHE UK. TOSNEL............
Tosnel 1 year ago 38
@Tosnel Hi - thank you for your kind comments. I used to work in the UK. I was a stand-up comedian for a year, then got into teaching. I taught in a tiny language school in a mountain town in Arcadia, Greece for a year, fell in love with teaching and Greece, came back to the UK and taught History for three years in state schools in Dagenham and Morecambe. But Greece was in my blood by then, and kept calling me back, so I moved to Athens permanently in 1996.
pajholden 1 year ago 27
@pajholden That's an ace story!
ThatDrumBoy 1 year ago
Comment removed
danpharris1 8 months ago
@Tosnel how do you not understand this
makebelieveperson 5 months ago
This video describes Opportunity Cost better than my text book! Thanks!
AllAboutJane 1 year ago
Very interesting, I believe I can answer my DQ question now. Thanks.
Lipsandass 1 year ago
This has been flagged as spam show
Mr.Phil, you are absolutely fantastic! Thank you for sharing with us these complicated concepts...that you succed to present in such an easy and simplistic manner! Congratulationes for all your videos! A huge fan, G.
gabriellebv 1 year ago
This has been flagged as spam show
Mr. Phil , you are absolutely fantastic! Thank you so much for sharing with us these complicated concepts...that you succed to present them in such an easy and simplistic manner! Congratulationes for all your videos! A huge fan, G.
gabriellebv 1 year ago
Comment removed
gabriellebv 1 year ago
thank you i have a final on friday and watching this explained a lot
usisthebest 1 year ago
I sacrificed a lot of play for this video and I don't regret it at all. Thank you paj!
dominator9008 1 year ago
I have an Exam tomorrow and helped me do much
01793pop 1 year ago
This has been flagged as spam show
Some birds can not fly in, Asian busizz4me.info
justinbellful 1 year ago
thank a lot, after this i eventually understand that!!
skatersib 1 year ago
Awesome
naseerkhan101 1 year ago
Thats really very helpful'
Thank you so much
Can I get help from your videos in complex calculations of Economics?
Optimal price and the likes.
I mean I get the concept right and can do simple problems but the in complex problems, I'm always seeking the senior's help. can you help in this regard?
naelosama 1 year ago
i thought thinking in the margin is when you decide to work wih a convenation of both but i guess it makes sence.
sandiegozfineztthug 1 year ago
Come baby Asian ladies lushfmlk.info
PeytonMajor 1 year ago
Why does the opporunity cost curve make a concave, but the indifference curve makes a convex? It seems like almost the same to me.
doomownage94 1 year ago
I LOVE YOUR VIDEOS.
timberwolves03 1 year ago
thumbs up if you're from mr. dunavins class.
Frankthetank921 1 year ago
That's was impressive. Thanks for explaining it in such a very simple way.
PianoHero01 1 year ago
Thank you!!!!
vikyyyyyyyy 1 year ago
THANK YOU SIR! You should be my teacher!!! I am doing Economics for the first time in A levels and my teacher has already made it clear tha she will only teach us the basics and we will have to get into the depths ourselves :| I am quite bad at anwering questions or exam type case studies. Will you be able to make a video on writing modal answers? Thank you. :)
SuperLalaland09 1 year ago
Thank you :]
LeKden8 1 year ago
this guy is good. thanks for the videos.
kcathcar 1 year ago
thanx mate!
lukedez000 1 year ago
it helps alot !
wish u were my lecturer ;)
168tiffany 1 year ago
cheers sir
really helped for my final
i guess the opportunity cost of me watching tv all day instead of studying is my grades
haha oh well
MissLexieJay 1 year ago
VERY INTERESTING
qes4a40 1 year ago
Very helpful. Thanks!
Marco0618 1 year ago
thanks so much sir
umayra786 1 year ago
From 2:28 - you change the linear line into a concave. This is wrong. In reality it depends on what activities you do. The idea of concave curve came from Macro Economics based on the unskilled labour to move quicly.
Take for instance cooking. To prepare one dish in a bigger quantity is much more productive than 2 kinds of dishes, so in that case the curve is convex, not even linear. You need to be much more knowledgeable on the activities you are actually drawing a concave curve on.
csurmi22 1 year ago
@csurmi22 A convex PPF? Thats the 1st time i have heard bout it.....If possible will you make a vid bout it? I really suck at econs but i am willing to learn more.....So can you?
EXOniHunter 1 year ago
I miss u Mr Holden :)
Darja29 1 year ago
No kind action ever stops with itself. One kind action leads to another. Good example is followed. A single act of kindness throws out roots in all directions, and the roots spring up and make new trees. The greatest work that kindness does to others is that it makes them kind themselves. Stay blessed in all you do, D
MarketingTips101 1 year ago
Thanks............................. Good job
madhukagetz1 1 year ago
i failed my final cuz of this
hohohee1 1 year ago 3
@hohohee1 Because of his teaching or the topic? I'm a bit confused.....
EXOniHunter 1 year ago
In reality wouldn't the curve be convex rather than concave?
The first unit of cheese would be very expensive to produce due to start up costs so you'd be giving a lot wool to produce a small amount of cheese. The last unit would be very cheap so you wouldn't have to give up much.
cookdave 1 year ago
goooooooooood !!
ryantho1988 1 year ago
echt genial erklärt:-D
derneuschooer 1 year ago
Thanks for video~!
Matty231 1 year ago
great stuff...brilliant...:)
iisnain 2 years ago
thnx great stuff
MrBigbiggerbiggest 2 years ago
Great video, but one question. Why is the line sometimes curved and not always straight? What causes this? Is there a way to evaluate the dimension of this curve? It seems that one must know how much this curve is... curved, to make a good decision with opportunity cost.
WSUCougsFTW 2 years ago
Because there are fixed/variable costs one must pay off in order to start producing something. The work/play graph doesn't have to consider any extra fixed/variable costs.
DaveDoggOwns 1 year ago
THANK YOU!
FanzieBaby 2 years ago
thanks sooo much!!!
almesserli22 2 years ago
Utterly Perfect =)
maxlightmaxlight 2 years ago
Great explanation. Thank you!
Apex174 2 years ago
he draws lines very well
MrCockSlut 2 years ago 2
yesss your videos are very helpful!
juliejo91 2 years ago
thank youu my teacher is so shit
freshprinceofbalham 2 years ago
good stuff m8
Screwschom 2 years ago
thank you very much! the pictures with examples really helped.
jhosch10 2 years ago
thanks a lot sir
umayra786 2 years ago
all this stuff you do helps so many people!!
tdrules 2 years ago
THANK YOU ;D
poeticzombieprincess 2 years ago
This has been flagged as spam show
good video, thanks :)
iTheHulk 2 years ago
Excellent. This really helped.
actuallyadam 2 years ago
Thank you for your video!! It helped me understand more than what I have learned in the semester, so far!!
-R
Robert318i 2 years ago
thanks good job
beoo14 2 years ago
This is extremely good session. Please keep spreading your teaching through youtube. This has lot of value. Thanks.
rnghosh5050 2 years ago
Thankes
JoshuaAushoj 2 years ago
fatastic plz tell ur name for more
ufoniii 2 years ago
thank you!
hacksign20 2 years ago
Thanks a lot for the video! This was really helpful =D
walterstone2 2 years ago
that was very helpful!!!! THANK YOU! =D
Sk8tr201 2 years ago
This is soooo easy! Great Videos
ericcartmill 2 years ago
THX a lot~~
da5029 2 years ago
thanku soooo much :)
proceejo 2 years ago
nice one mate, very well put, cheers
djmarkoloco 2 years ago 2
I love you.
wariopuff 2 years ago
It was really helpful, thank u!
JCarmel24 2 years ago
omg. SOOOOO GOOD!! thank you!!
supercuulable 2 years ago 16
@supercuulable thanks to you and fet system. I do not think we will have to got to school anymore
ashleywilson62 8 months ago
humm now i think i am starting to like economics, u make this very interesting and make me want to learn more, thanks alot, ur very good.!
bronald78 2 years ago
That was really helpful. Thanks a lot.
archi451 2 years ago
i wish you could have done it with actual numbers in a ppc schedule but great explanation
mariamty 2 years ago
thank you very much for this you explained it much better than my professor did!
ilovetavernwenches 2 years ago
This has been flagged as spam show
Nice work. keep it up. mean time come for social media marketing for esteembpo**com GHFDJ
jeraldmcginnis 2 years ago
the exit is always cliassic lol!
Iant2 2 years ago
great! no seriously like i just learned what oppotunity course is from this.!!
Kisssekhtak 2 years ago
You clearly haven't learnt what oppurtunity cost is as you've called it oppurtunity course!
hajmola 2 years ago
omg did i ? i was thinking of my course that moment heheeeeei
but yea you're right, i had a question in the exam and i got a zero. its not my thing
Kisssekhtak 2 years ago
IB 2010!!!!!!!
berlin45ers 2 years ago
shitman
mricetea13 2 years ago
This has been flagged as spam show
no offense for the guy in the vid but......
ECO IS GAY
moomen2009 2 years ago
you are clearly very ignorant, how do you think everything is priced? by magic? if so you need to be in a mental home
the1trueseed 2 years ago
what about the subjective theory of value; does a government, a firm, or any other group of individuals make a decision in the same way as a single individual. how do we add up individual opportunity costs?
SHBBKBB 2 years ago
Very helpful! I have been watching all of your videos, im studying economics in year 11 in Australia.
Thanks
katieking2006 2 years ago
helpful
cheatdath 2 years ago
Very good, but you didn't explain the reason why more wool must be forgone as more cheese is produced.
superdaveXtreme 2 years ago 3
Good stuff. Thanks!
pablolopez26 2 years ago
wow this is funny im doing my last year of A levels and i didnt even think to look for help on youtube. I will start checking out a level help on youtube for my last exam :d
Conceptskatemedia 2 years ago
One error you made
At 4:11 to 4:13 you said we have to give up a HUGE amount of wool. It is supposed to be the length on top not on the bottom.
Nevertheless that was a good refresh of mind for me as I am an Economics student. Thumbs UP!
anselmsim 3 years ago 3
He is not wrong. He means that you move to the 1000th unit from the 999th unit.
pergolas123 2 years ago
Hey pergolas123 Thanks for pointing out my mistake! It is from the 999th unit to the 100th unit of cheese you have to give a large amount of wool. It got me all confused back then.
So can I say that the opportunity cost of producing 999 units of cheese from 0 WOULD BE the large length on top?
Sorry pajholden =)
anselmsim 2 years ago
Yup :)
pergolas123 2 years ago
thx heaps i have an exam on oppitunity cost in a couple of days
ryan63100 3 years ago
Thank you so much.
I'm currently in an econ class for the first time and I really want to understand what I'm doing. I hope you post more of these videos for other concepts such as "The Short Run vs The Long Run" and "Market Types"
cri8tor 3 years ago
this was extremely helpful thank you
asdlgvfrbadkhjaseygf 3 years ago
This has been flagged as spam show
Nice Video. Check out TubeViews (dotnet) If you need your video exposed, It has really helped me a bunch. Be blessed!
Have you heard of this program that actually send thousands of text messages advertising your business for you, i think the url is w w w . a u t o t e x t s e n d e r . c o m
Kabeerkaif 3 years ago
In the video, shudn't the opportunity cost be the upper part of the Y-axis instead of the lower part of Y-axis is marked by the tutor here?
imranmir1 3 years ago
that's what i was thinking...
vchen24 3 years ago
XXXX
icumbloodisshit 3 years ago
check out my video for a humanistic perspective, as well
Sarutahiko1 3 years ago
Thanks! I will have the economics exam tomorrow, it's helpful to me
sunnyhelloandhello11 3 years ago
I wish we had these helpful youtube videos in college!
ncrimaldi 3 years ago
Richard Cantillion had this explicit idea as "intrinsic value" as early as 1732!
cambo61 3 years ago
lol, who entered the room? did you guys hijack a class room? : )... Great Video Thanks
rfvo 3 years ago
lets say there is a partnership of two people, A&B. both are 50% partners in the business. For some reason the partner A wants to take over the business and remove partner B from the same. He is willing to give partner B his due share of the partnership value. But partner B feels that he is entitled to some opportunity cost in this case, as he is not leaving this partnership willingly. What is the basis on which B should claim opportunity cost from A? is there any set formula for such a case?
rbajoria 3 years ago
thanks alot for explaying that, very clear!
GodzCok 3 years ago
You won a free ticket to see an Eric Clapton concert (which has no resale value). Bob Dylan is performing on the same night and is your next-best alternative activity. Tickets to see Dylan cost $40. On any given day, you would be willing to pay up to $50 to see Dylan. Assume there are no other costs of seeing either performer.
Based on this information, the opportunity cost of seeing Eric Clapton would be $0?
1borndiva 3 years ago
4th grade??? My daughter Emily, 8 years old, is fourth grade. They definitely don't study economics yet! What school does your son go to? The J.M.Keynes Prep school for infant prodigies? Glad it helped. Next year, when he does triple-axis dynamic efficiency path-modelling in three stakeholder employment contract negotiations, ask him to call me so he can explain it to me! Thanks for watching.
pajholden 3 years ago 10
@pajholden 4TH grade here is prolly 12th grade where you're at ;) Because indeed.8 y/o is prodigy²
MrPressThat 1 year ago
@pajholden think he means 4th year of secondary school.. ie, year 10.
FreddAnderson 1 year ago
Thank you for this video! It helped me with my son's 4th grade homework! I sure don't remember learning this in 4th grade! AHHHH!!! Thank you, you saved the day!
ivsummers 3 years ago
opportunity cost- is the cost of the next best alternative to be foregone.
Ive got perfect Business notes for IGCSE. Ive got a B in GCSE and an A in A levels.
blackhawk119 3 years ago
you are totally fantastic! my perfect online tutor. thanks! =]
jervistan 3 years ago
you explained this better in 5 minutes than my instructor was able to do in 6 weeks... and 90% of the class still doesn't get it. Opportunity Cost is the item not chosen or sacrificed. Please post more on Microeconomics.
Typhoon1930 3 years ago
very well explain
sarahbabe16 3 years ago
are there any serious theories as to why (or when at times) people dont pick the best opportunity cost? [admittedly not everyone makes the best choices when faced with them]
cubencis 3 years ago
People always pick the "best" oportunity cost. But you can not judge if these are the best. That is caused by the utility and the utility of a decission is a personal aspect of the individual
Pity0411 3 years ago
regarding to my previous comment: This behavior implies the idea of the homo oeconomicus
Pity0411 3 years ago
nicely xpalined :p
it helpd me in understanding 4 ma alevel's finals
hg76d87we 3 years ago
Very helpful! The examples you used really helped me grasp the concept.
o0babydoll0o 3 years ago
This comment has received too many negative votes show
he's such a bad speaker
anusha89 3 years ago
I disagree. I have chronic ADD and I have no difficulty listening to this guy
mwjmccarthy 3 years ago 7
are you joking?!
Chilax 3 years ago