Microeconomics- Everything You Need to Know

Microeconomics- Everything You Need to Know

Microeconomics- Everything You Need to Know

Check out the Ultimate Review Packet for FREE

In this video I cover all the concepts for an introductory microeconomics course and AP course. I go super fast so don’t take notes. Focus on the big picture ideas, identfy what you still need to practoce, and go back and watch my Unit Summary videos.

If you like my videos please get the Ultimate Review Packet. It is the best way to say thank you. It is awesome and it’s only $10. Here is the link: http://www.acdcecon.com/#!review-packet/czji

I cover scarcity, opportunit costs, the PPC, comparative advantage, demand, supply, ceilings, floors, shifts, elasticity, taxes, consumer suprlus, consumer choice, costs of production, perfect competition, monopolies, opligopolies, mono[olistic competition, labor markets and firms, monopsonies, public goods, externalities, and the Lorenz curve. Wow! That’s a lot. Get ready. Here we go!!!!!!!!!!!!!

Thank you to Austin for organizing the following:

Unit 1
1:00 Basics
1:13 PPC
2:17 Absolute & Comparative Advantage
3:07 Circular Flow Model

Unit 2
4:04 Demand & Supply
5:26 Substitutes & Compliments
5:36 Normal & Inferior Goods
5:46 Elasticity
7:35 Consumer & Producer Surplus
7:52 Price Controls, Ceilings & Floors
8:37 Trade
9:08 Taxes
9:56 Maximizing Utility

Unit 3
11:03 Production, Inputs & Outputs
11:16 Law of Diminishing Marginal Returns
11:36 Costs of Production
13:00 Economies of Scale
13:37 Perfect Competition
14:25 Profit-Maximizing Rule, MR=MC
15:20 Shut down Rule
16:05 Accounting & Economic Profit
16:30 Short-Run, Long-Run
16:56 Productive & Allocative Efficiency

Unit 4
18:02 Monopoly
18:53 Natural Monopoly
20:01 Price Discrimination
20:22 Oligopoly
20:31 Game Theory
20:42 Monopolistic Competition

Unit 5
21:51 Derived Demand
22:07 Minimum Wage
22:19 MRP & MRC
22:52 Labor Market
23:30 Monopsony
24:05 Least-Cost Rule

Unit 6
25:11 Market Failures
25:27 Public Goods
26:00 Externalities
27:21 Lorenz Curve
27:44 Gini Coefficient
27:53 Types of Taxes

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27 Responses to “Microeconomics- Everything You Need to Know”

  1. Matt Palucci says:

    jacob clifford, you are the goat.

  2. Ella Crocetti says:


  3. Sebastian Güth says:

    The exam tomorrow has me dead inside

  4. Cameron Ross says:

    I give myself about a 4.5% chance of passing this test

  5. Conservative Tom says:

    This is the best damn review video I've ever seen in my life.

  6. Mani Dv says:

    Idk why I'm studying microeconomics

  7. Jenny Lam says:

    good job may 28 ppl we survived

  8. Adrian Santos Ramirez says:

    good luck for everyone taking the test today or in the future.

  9. wry0313 says:

    YOOOOOO my may 28 AP Micro test takers we got this

  10. Brendan Latham says:

    My exam is in 30 minutes😂 wish me luck

  11. Joy Shen says:

    Good luck to everyone taking the exam today! We got this! 🙂

  12. Alp says:

    An hour before the test, ima fail

  13. Cam Ling says:

    my micro exam is in half an hour 😍

  14. gabe says:

    I'm watching this 2 hours before the test… this is the only way I studied btw 🙂

  15. Emily Russo says:

    watching two hours before exam 😀

  16. Narjis Bukhari says:

    Thank you Mr. Clifford. Your review packet was game changer. I passed both Macroeconomics and Microeconomics after watching your videos and working on packet. I am only 5 classes away from completing my BS. Thanks again! your lectures are amazing!

  17. Risate says:

    Good luck to any May 28 AP testers!

  18. stefanospa says:

    my igcse exam is in 1 hour and 30 minutes

  19. S LARSEN says:

    I’m stupid. But, you generated enough confidence to “get it.”

  20. PRIMITIVE GOD says:

    Nice ACDC belt man

  21. minecraft haram destroyer!!!!11 says:

    Your teaching methods are marvelous. What a great, quick video. Thank you

  22. SuperMaDBrothers says:

    complete garbage explanations

  23. Gina Hassan says:

    Id love if you left a Venmo or something so we can send you the $ even if we don’t buy the packet! you’ve supplemented my learning so much for my online class

  24. Junior Chavez says:

    Thx for the vid got finals tomorrow

  25. Offgridsweden says:

    This > alternative cost for college

  26. °~° says:

    Econ's King

  27. Leah Skipper says:

    Thank you very much. Lol I got an exam in less then one hour.

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