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Price of related products and demand
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Complements are goods that are consumed together. Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases. When the price of a substitute good decreases, the quantity demanded for that good increases, but the demand for the good that it is being substituted for decreases. Take a deeper dive into how changes in the prices of complements and substitutes affect the demand curve in this video. Created by Sal Khan.

Subject:
Economics
Social Science
Material Type:
Lesson
Provider:
Khan Academy
Provider Set:
Khan Academy
Author:
Sal Khan
Date Added:
07/27/2021
Producer surplus
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Producer surplus is the difference between the price a producer gets and its marginal cost. This means the producer surplus is the difference between the supply curve and the price received. Created by Sal Khan.

Subject:
Economics
Social Science
Material Type:
Lesson
Provider:
Khan Academy
Provider Set:
Khan Academy
Author:
Sal Khan
Date Added:
07/27/2021
Production Possibilities Curve as a model of a country's economy
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In this video, Sal explains how the production possibilities curve model can be used to illustrate changes in a country's actual and potential level of output. Concepts covered include efficiency, inefficiency, economic growth and contraction, and recession. When an economy is in a recession, it is operating inside the PPC. When it is at full employment, it operates on the PPC.

Subject:
Economics
Social Science
Material Type:
Lesson
Provider:
Khan Academy
Provider Set:
Khan Academy
Author:
Sal Khan
Date Added:
07/27/2021
Production possibilities curve
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The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production possibilities frontier (PPF), the PPC illustrates scarcity and tradeoffs. In this video, we model tradeoffs and scarcity using the example of a hunter-gatherer who can split their time between two activities. Created by Sal Khan.

Subject:
Economics
Social Science
Material Type:
Lesson
Provider:
Khan Academy
Provider Set:
Khan Academy
Author:
Sal Khan
Date Added:
07/27/2021
Profit maximization
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Learn about the profit maximization rule, and how to implement this rule in a graph of a perfectly competitive firm, in this video.

Subject:
Economics
Social Science
Material Type:
Lesson
Provider:
Khan Academy
Provider Set:
Khan Academy
Author:
Sal Khan
Date Added:
07/27/2021
Prosperity in Song China (960-1279)
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Overview of innovation and causes of prosperity and stability during the Song Dynasty (both Northern and Southern Song Dynasties). First movable type block printing, government sanctioned paper money, gunpowder, etc.

Subject:
History
Material Type:
Lesson
Provider:
Khan Academy
Provider Set:
Khan Academy
Author:
Sal Khan
Date Added:
07/26/2021
Punic Wars between Rome and Carthage
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Three Punic Wars between Rome and Carthage mark the end of the Carthaginian (Punic) Empire and leave the Roman Republic dominant in the Mediterranean.

Subject:
History
Material Type:
Lesson
Provider:
Khan Academy
Provider Set:
Khan Academy
Author:
Sal Khan
Date Added:
07/26/2021