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Price Ceilings: Deadweight Loss
In this video, we explore the fourth unintended consequence of price ceilings: deadweight loss. When prices are controlled, the mutually profitable gains from free trade cannot be fully realized, creating deadweight loss. With price controls, less trading occurs and both...
External Benefits
What can the flu teach us about economics and externalities? In this video, we go over how vaccines produce positive externalities that help people stay healthy. When someone receive the vaccine, they pass along the positive benefits of the vaccine to others, generating...
The Demand Curve Shifts
How do increases or decreases in demand affect the demand curve? An increase in demand means an increase in the quantity demanded at every price. Similarly, a decrease in demand means a decrease in the quantity demanded at every price....
An Orgy of Innovation (Everyday Economics 5/7)
The list of famous inventions from the last few centuries is long, and you may even be making use of one right now — laptops, smartphones, tablets, and televisions, for instance. There are countless unsung improvements, too, that make our daily lives much easier. We’ve all...
Price Ceilings: Lines and Search Costs
In this video, we explore two more unintended consequences of price ceilings: long lines and search costs. What was it like waiting in long lines for gasoline back in the 1970s? Not fun. But why did this happen? When price ceilings were imposed on gasoline, people could not...
Price Floors: The Minimum Wage
Price floors, when prices are kept artificially high, lead to several consequences that hurt the consumer. In this video, we take a look at the minimum wage as an example of a price floor. Using the supply and demand curve and real world examples, we show how price floors...
Dictatorship of the Proletariat
http://mruniversity.com/courses/economic-history-soviet-union/dictatorship-proletariat Help us caption & translate this video! http://amara.org/v/FK56/
Fair Trade: Does It Help Poor Workers? (Everyday Economics 7/7)
Elizabeth, an Everyday Economics viewer, asks: “How does the purchase of fair-trade goods affect wages in developing countries?”...
Price Ceilings: Rent Controls
Rent controls are a type of price ceiling. We’ll use our diagram to show how rent controls create shortages by reducing the supply of apartments available on the market. Rent controls also result in reduced product quality, since they reduce the returns to landlords from...
A Deeper Look at the Demand Curve
This video looks at both the horizontal and vertical methods for reading the demand curve, how demand curves shift, and consumer surplus. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/21gwQyT Next video: http://bit.ly/1XMVCAZ