Perfect competition is a theoretical market structure in which there are many …
Perfect competition is a theoretical market structure in which there are many buyers and sellers, identical products (also called homogeneous products), perfect information, and no barriers to entry.
Present value is the value right now of some amount of money …
Present value is the value right now of some amount of money in the future. For example, if you are promised $110 in one year, the present value is the current value of that $110 today. Present value is one of the foundational concepts in finance, and we explore the concept and calculation of present value in this video. Created by Sal Khan.
Economists use the concept of price elasticity of demand to describe how …
Economists use the concept of price elasticity of demand to describe how the quantity demanded changes in response to a price change. In this video, explore a simple way to calculate the price elasticity of demand, how to interpret that calculation, and how price elasticity of demand varies along a demand curve.
Production functions describe how output is determined by various inputs. The short …
Production functions describe how output is determined by various inputs. The short run is defined as the period of time in which at least one input is fixed. Anything longer than that is considered the long run.
What was Western Europe like before the Protestant Reformation? Learn about the …
What was Western Europe like before the Protestant Reformation? Learn about the influence of the Catholic church and the issues that led a monk named Martin Luther to demand reform. Created by Beth Harris and Steven Zucker.
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