In this video I explain the costs of production including fixed costs, variable costs, total cost, and marginal cost. Make sure that you know how to calculate the per unit costs: AVC, AFC, and ATC.

A quick overview of what you will cover in the third unit of Microeconomics. Virtually all teachers will cover the same topics, but keep in mind that some teachers might teach a few concepts in a different order.

"You didn't build that!" Mr. Clifford expalins the characteristics of public goods and the free rider problem

In this video I explain foreign exchange and how the value of currencies change. Remember that the trick is to remember that you supply your currency and the people in other countries demand your currency. Thanks for watching.

Anatomy and branches of the thoracic (descending) aorta.

Hey internet! This is Jacob Clifford. In this episode I explain explicit and implicit benefits and costs. I also define utility and explain the idea of cost-benefit analysis.



The answers to the practice questions are in the...

Electrical supplies can be direct current or alternating current. It's referred to as AC/DC but not rock band of course. If the current flows in one direction it is called direct current. Batteries supply DC current to most of your...

Jacob Clifford gives us an insight into the economics of unemployment.

In this video I explain the Circular Flow Matrix and how products, resources, and money flow in a market economy. I also define the factors of production, public sector, and factor payments. Keep in mind that households and businesses...

In this live-action program viewers will learn that cardiovascular activity is any action that elevates your heart rate for an extended period of time. Students will come to understand that changes in our cardiovascular system occur when...

Now that we know about supply and demand, we are ready to talk about prices, and how they dictate the dynamics of a free market economy. Free markets lead to an efficient distribution of resources, however there are exceptions, such as...

This video explains how supply and demand work, and how they affect the price of goods and services. It uses the example of a coffee shop to illustrate how changes in supply and demand can impact the price of coffee, and how businesses...

The video discusses the economic problem, which is the challenge of satisfying humans' unlimited wants and needs with limited resources. The four main categories of economic resources; labor, land, capital, and entrepreneurship, are...

This video explains the concept of cellular respiration and the differences between aerobic and anaerobic respiration. It explains the word and chemical symbol equations for aerobic and anaerobic respiration, as well as the differences...

Learn the basics about the cracking of hydrocarbons and why it is done.

In this video I explain how the production possibilities curve (PPC) shows scarcity, trade-offs, opportunity cost, and efficiency. This is the first graph you are going to learn in your economics class. Thanks for watching.

The video is a lecture on shifts in demand and supply diagrams in economics. The presenter explains the key terms and concepts related to demand and supply and how they are combined for demand supply analysis. Different types of shifts,...

Supply and demand! We've all hear these terms before, and we probably have a pretty solid conception of what they mean. But let's formalize them a bit by looking at the law of demand and the law of supply, as well as the substitution...

The video is a lecture on how taxes and subsidies affect a market. The speaker explains the key terms and concepts, such as the shifts in the supply and demand curves caused by taxes and subsidies, the incidence of taxes, the revenue...

The Pearl Exchange is a hands-on experiential learning activity that shows how buyers and sellers determine equilibrium price in a market. It also shows how changes in a market will lead to shortages or surpluses and result in changes in...

In this video I explain what happens when the government controls market prices. Price ceilings are a legal maximum price and price floors are a minimum legal price. Make sure that you can draw each of them on a demand and supply graph...

In this video I go over the Macro 2017 FRQ #2. It covers the money market graph, bond prices, and open market operations. Try the question on your own the watch the video to see how you did. Thanks for watching.

Hey econ students. I made this video to help you get ready for you AP Econ Exams.

This videos uses the Circular Flow Model to explain the big picture ideas of AP microeconomics and macroeconomics.