The Determinants of Demand

This video describes the different determinants of demand- price, income, prices of related goods, tastes, expectations and number of buyers.

For more information and a complete set of microeconomics videos, see
http://www.economistsdoitwithmodels.com/microeconomics-101

by Economists Do It With Models

Category:

Education

Tags:

• economics
• microeconomics
• demand
• price
• income
• related
• goods
• tastes
• expectations

[lakersrchamps260]

Would you consider Allagash White Ale and Five Guys burgers to be perfect compliments?

[jodiecongirl]

@lakersrchamps260 I'm not sure, so the only way to really way to find out is to perform some experiments. :)

[pledge2u]

how will one determine whether or not I am working with an inferior good or normal good ....my professor gave this demand curve and ask is X a normal or inferior good....Qd = 500 - 5Px + 0.5I +10Py - 2Pz

[jodiecongirl]

@pledge2u You need to look at what happens to demand in response to a change in income. In this equation, I assume that income is represented by I. If the quantity demanded increases when income increases (holding everything else constant), then you have a normal good. If the quantity demanded decreases, you have an inferior good. (Hint: This all relates back to the sign of the coefficient on I.)

[ripthewrapping]

TILF

[DestroyAllWarnings]

I absolutely love the way you make economics accessible for minds of those who are just starting out, such as explaining things in terms of cheap beer, soda, cigarettes and pot, which make perfect sense to college students.

[DonElmerLopez]

@DestroyAllWarnings so true.hahah

[legolasl2740]

3 people are failing macro class 

[legolasl2740]

4:36

not unless their filthy rich and use 1$ bills as toilet paper ;)

[bboydjoe]

wow, you are attractive and you teach well. thank you for helping me in my micro econ class!

[MILKYASAKJ]

Cheers for this

Get your Tits out for the Lads ?

[LordUhai]

To all the confused pervs, think with your head up top, not down low.

[amilkcart]

wow.. such a great mind... great teacher... and gorgeous! totally had my attention!