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Scarcity, the Basic Economic Problem
 
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What would you do if you showed up to class and there weren't nearly enough chairs to go around? Well, you're facing and economic problem that requires an economic system to solve! This lesson introduces the basic economic problem of scarcity and defines "Economics" and "Economic systems", both key concepts for a student starting out on his or her journey to study the "dismal science"! Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 85254 Jason Welker
#1 Economics II Introduction to Economics || What is Economic Problem?
 
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To buy Full Course Lectures click the following link: https://www.instamojo.com/SudhirSachdeva/micro-economics-download-link-1-3-6-months-v/?ref=store Micro Economics DEMO Playlist: https://www.youtube.com/watch?v=DZr8M60cxIA&list=PLVE_dFhGA23xQvMSRRCekLAe0OPcURYj6 This video discusses the economic problem. It is Sometimes called basic or central economic problem. It explains that an economy's limited resources are insufficient to satisfy all human wants. According to this human wants are unlimited, but the means to satisfy human wants are limited.
Views: 23469 SUDHIR SACHDEVA
Economic problem: Scarce resources
 
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What are scarce reosurces
Views: 19305 lostmy1
Three Types of Economic Resources: Factors of Production
 
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This video introduces the three types of economic resources including: natural, human and capital resources. Enjoy learning about these three factors of production.
Views: 78951 Alex Lamon
Resources: Welcome to the Neighborhood - Crash Course Kids #2.1
 
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Welcome to the Neighborhood! Humans need a lot of things to survive (I'm sure you've noticed). We need food, water, and shelter and it takes a lot of resources to get all of those things. What are resources? In this episode of Crash Course Kids, Sabrina talks about what resources are and how we use them. And you might be surprised where all of it starts. This first series is based on 5th grade science. We're super excited and hope you enjoy Crash Course Kids! ///Standards Used in This Video/// 5-ESS3-1. Obtain and combine information about ways individual communities use science ideas to protect the Earth’s resources and environment. Want to find Crash Course elsewhere on the internet? Crash Course Main Channel: https://www.youtube.com/crashcourse Facebook - https://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/CrashCourseKids Tumblr - http://thecrashcourse.tumblr.com Credits... Executive Producers: John & Hank Green Producer: Nicholas Jenkins Cinematographer & Director: Michael Aranda Editor: Nicholas Jenkins Script Supervisor: Mickie Halpern Writer: Ben Kessler Consultant: Shelby Alinsky Script Editor: Blake de Pastino Thought Cafe Team: Stephanie Bailis Cody Brown Suzanna Brusikiewicz Jonathan Corbiere Nick Counter Kelsey Heinrichs Jack Kenedy Corey MacDonald Tyler Sammy Nikkie Stinchcombe James Tuer Adam Winnik
Views: 277014 Crash Course Kids
Economic Development Unit:  Sources of Economic Growth
 
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Your IB Economics Course Companion! This is video 2 of 6 videos in “The Economic Development Series”. Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkEhlr-c4dpa1xqQf-Sq2BXv The List! Here is the “The List” for “The Economic Development Series”: For an explanation of the logic of “The Lists” click here: https://youtu.be/dE0fbsgXlFE What is economic development? Sources of economic growth 1. Natural factors 2. Human capital factors 3. Physical capital and technological factors 4. Institutional factors Does economic growth lead to economic development? 1. Higher incomes 2. Improved economic indicators of welfare 3. Higher government revenues 4. Creation of inequality 5. Negative externalities and lack of sustainability Common characteristics of developing countries 1. Low standard of living, low incomes, inequality, poor health, and inadequate education 2. Low levels of productivity 3. High rates of population growth and dependency burdens (child and old age ratios) 4. High and rising levels of unemployment and underemployment 5. Substantial dependence on agricultural production and primary market exports 6. Prevalence of imperfect markets and limited information 7. Dominance, dependence, and vulnerability in international relations Diversity among developing nations 1. Resource endowment 2. Historical background 3. Geographic and demographic factors 4. Ethnic and religious breakdown 5. The structure of industry 6. Per capita income levels 7. Political structure International development goals 1. Goal 1: Eradicate extreme poverty and hunger 2. Goal 2: Achieve universal primary education 3. Goal 3: Promote gender equality and empower women 4. Goal 4: Reduce child mortality 5. Goal 5: Improve maternal health 6. Goal 6: Combat HIV/AIDS, malaria, and other diseases 7. Goal 7: Ensure environmental sustainability 8. Goal 8: Develop a Global Partnership for Development I hope you find these videos helpful to your study of Economics. Enjoy! Brad Cartwright . Follow on Twitter: IB Specific News and Analysis Daily! https://twitter.com/econ_ib . Follow on Instagram: https://www.instagram.com/econcoursecompanion/ Support Econ Course Companion: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=CQS377QG4VM4G&source=url
Views: 11268 Econ Course Companion
Scarcity, Opportunity Cost and the PPC
 
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The basic economic problem is one rooted in both the natural world and in human greed. We live in a world of limited resources, but we seem to have unlimited wants. This results in scarcity, which gives rise to the very field of Economics, which deals with how to allocate scarce resources between the competing wants and needs of society. This lesson will introduce these basic economic concepts, along with the first (and perhaps the most useful) graph an Economics student will learn, the Production Possibilities Curve. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 216279 Jason Welker
Are We Running Out of Resources?
 
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Prof. Steve Horwitz addresses the common belief that the world is running out of natural resources. Instead, there are economic reasons why we will never run out of many resources. In a free market system, prices signal scarcity. So as a resource becomes more scarce, it becomes more expensive, which incentivizes people to use less of it and develop new alternatives, or to find new reserves of that resource that were previously unknown or unprofitable. We have seen throughout history that the human mind's ability to innovate, coupled with a free market economic system, is an unlimited resource that can overcome the limitations we perceive with natural resources. Watch more videos: http://lrnlbty.co/y5tTcY
Views: 196786 Learn Liberty
What's So Great About Economic Freedom? - Learn Liberty
 
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Free Market Economics: What are the benefits of economic freedom? What are the results? Learn more: http://www.learnliberty.org/?s=Learn+More Economic freedom involves more than just the freedom to buy and sell products and services. It allows us to be free in our interactions with other people. Economic freedom enables us to travel, to say what we want to say, to do what we want to do. Prof. Antony Davies shows how economic freedom is associated in the data with a number of positive indicators of a healthy country. For example, countries with more economic freedom tend to have higher GDP per capita, to take better care of the environment, and to be more equal across genders. In addition, countries with more economic freedom have less child labor. Economic freedom is important in healthy societies. It is about being free to make your own choices. SUBSCRIBE: http://bit.ly/1HVAtKP FOLLOW US: - Website: http://www.learnliberty.org/ - Facebook: https://www.facebook.com/LearnLiberty/ - Twitter: https://twitter.com/LearnLiberty - Google +: https://plus.google.com/112140608506395327038?hl=en LEARN MORE: For the data sources used in this video, check out the "Learn More" section on our video page: http://www.learnliberty.org/videos/whats-so-great-about-economic-freedom/ LEARN LIBERTY Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://www.learnliberty.org/?s=Learn+Liberty+videos
Views: 52667 Learn Liberty
Microeconomics - Lecture 01a
 
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economics, economic perspective, scarcity, choices, decision, economic decisions, action, human action, purposeful behavior, trade-off, opportunity cost, opportunities, alternatives, utility, marginal analysis, marginal benefit, marginal cost, cost-benefit analysis, theories, economic theories, expectations, models, economic models, microeconomics, macroeconomics, international economics, households, household behavior, decision-making, profits, managerial economics, economizing, economizing problem, factors of production, land, labor, capital, real capital, financial capital, human capital, limited income, waste, efficiency, unlimited wants, society's economizing problem, social resources, entrepreneurial skills, production, production possibilities, production possibilities table, production possibilities frontier, production possibilities curve, social choice.
Views: 9854 Krassimir Petrov
Water Resources
 
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005 - Water Resources In this video Paul Andersen explains how water is unequally distributed around the globe through the hydrologic cycles. Seawater is everywhere but is not useful without costly desalination. Freshwater is divided between surface water and groundwater but must me stored and moved for domestic, industrial, and agricultural uses. Subsidized low cost water has created a problem with water conservation but economic changes could help solve the problem. Do you speak another language? Help me translate my videos: http://www.bozemanscience.com/translations/ Music Attribution Intro Title: I4dsong_loop_main.wav Artist: CosmicD Link to sound: http://www.freesound.org/people/CosmicD/sounds/72556/ Creative Commons Atribution License Outro Title: String Theory Artist: Herman Jolly http://sunsetvalley.bandcamp.com/track/string-theory All of the images are licensed under creative commons and public domain licensing: “Center Pivot Irrigation.” Wikipedia, the Free Encyclopedia, August 20, 2015. https://en.wikipedia.org/w/index.php?title=Center_pivot_irrigation&oldid=677028017. “Desalination.” Wikipedia, the Free Encyclopedia, September 4, 2015. https://en.wikipedia.org/w/index.php?title=Desalination&oldid=679383711. File:LevelBasinFloodIrrigation.JPG, n.d. https://commons.wikimedia.org/wiki/File:LevelBasinFloodIrrigation.JPG. Hillewaert, Hans. English: Aquifer (vectorized), May 25, 2007. en:Image:Schematic aquifer xsection usgs cir1186.png. https://commons.wikimedia.org/wiki/File:Aquifer_en.svg. Ikluft. Aerial Photo of the California Aqueduct at the Interstate 205 Crossing, Just East of Interstate 580 Junction., September 11, 2007. Own work. https://commons.wikimedia.org/wiki/File:Kluft-Photo-Aerial-I205-California-Aqueduct-Img_0038.jpg. Kbh3rd. English: Map of Water-Level Changes in the High Plains/Ogallala Aquifer in Parts of Colorado, Kansas, Nebraska, New Mexico, Oklahoma, South Dakota, Texas, and Wyoming, 1980 to 1995., February 27, 2009. Own work. https://commons.wikimedia.org/wiki/File:Ogallala_changes_1980-1995.svg. moyogo, Water_Cycle_-_blank svg: *Wasserkreislauf png: de:Benutzer:Jooooderivative work: Water Cycle, SVG from Wasserkreislauf.png, November 13, 2011. Water_Cycle_-_blank.svg. https://commons.wikimedia.org/wiki/File:Water_Cycle-en.png. NCDC/NOAA, Michael Brewer. English: Status of Drought in California, October 21, 2014., October 23, 2014. http://droughtmonitor.unl.edu/MapsAndData/MapArchive.aspx. https://commons.wikimedia.org/wiki/File:California_Drought_Status_Oct_21_2014.png. “Ogallala Aquifer.” Wikipedia, the Free Encyclopedia, July 20, 2015. https://en.wikipedia.org/w/index.php?title=Ogallala_Aquifer&oldid=672198863. Plumbago. English: Annual Mean Sea Surface Salinity from the World Ocean Atlas 2009., December 5, 2012. Own work. https://commons.wikimedia.org/wiki/File:WOA09_sea-surf_SAL_AYool.png. Rehman, Source file: Le Grand PortageDerivative work: English: The Three Gorges Dam on the Yangtze River, China., September 20, 2009. File:Three_Gorges_Dam,_Yangtze_River,_China.jpg. https://commons.wikimedia.org/wiki/File:ThreeGorgesDam-China2009.jpg. Service, Photo by Jeff Vanuga, USDA Natural Resources Conservation. Level Furrow Irrigation on a Lettuce Field in Yuma, Az., October 4, 2011. USDA NRCS Photo Gallery: NRCSAZ02006.tif. https://commons.wikimedia.org/wiki/File:NRCSAZ02006_-_Arizona_(295)(NRCS_Photo_Gallery).tif. Station, Castle Lake Limnological Research. Castle Lake, California, January 14, 2008. [1]. https://commons.wikimedia.org/wiki/File:Castlelake_1.jpg. Tomia. Hydroelectric Dam, December 30, 2007. Own work. https://commons.wikimedia.org/wiki/File:Hydroelectric_dam.svg. USGS. English: Graph of the Locations of Water on Earth, [object HTMLTableCellElement]. http://ga.water.usgs.gov/edu/waterdistribution.html - traced and redrawn from File:Earth’s water distribution.gif. https://commons.wikimedia.org/wiki/File:Earth%27s_water_distribution.svg. version, Original uploader was Sagredo at en wikipedia Later. English: These Images Show the Yangtze River in the Vicinity of the Three Gorges Dam, September 29, 2007. Transferred from en.wikipedia; transferred to Commons by User:Rehman using CommonsHelper. https://commons.wikimedia.org/wiki/File:ThreeGorgesDam-Landsat7.jpg. “WaterGAP.” Wikipedia, the Free Encyclopedia, April 22, 2014. https://en.wikipedia.org/w/index.php?title=WaterGAP&oldid=605287609. “Water in California.” Wikipedia, the Free Encyclopedia, August 31, 2015. https://en.wikipedia.org/w/index.php?title=Water_in_California&oldid=678801793.
Views: 193288 Bozeman Science
MBA - Managerial Economics 01
 
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MBA Course in Managerial Economics at Prince Sultan University. Lecture 1 covers introductory overview to economics - choice, economic decisions, scarcity, scare resources, limited resources, human action, purposeful behavior, trade-offs, opportunity cost, marginal analysis, efficiency, productivity, means, resources, inputs, money, capital, labor, land, utility, modeling, economic models, microeconomics, firms, businesses, household, macroeconomics, GDP, stock market capitalization, imports, exports, trade surplus, trade deficits, inflation, unemployment, currency board, fixed-exchange, gold, consumer goods and services, input variables, output variables, model theory, model variables, causation, correlation, Prince Sultan University, Saudi Arabia Professor: Dr. Krassimir Petrov
Views: 268792 Krassimir Petrov
The Great Economic Problem
 
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In this video, we discuss how different markets are linked to one another. How does the price of oil affect the price of candy bars? When the price of oil increases, it is of course more expensive to transport goods, like candy bars. But there are other, more subtle ways these two markets are connected. For instance, an increase in the price of oil leads to an increase in demand for oil substitutes, like ethanol. And when the supply of oil falls, oil should shift to higher-valued uses. But, which uses? How do we decide where to use less oil? This brings us to the great economic problem: how to most effectively arrange our limited resources to satisfy our needs and wants. Which approach — central planning or the price system — is better at solving this problem? Join us as we explore this question further. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/20Vuhg8 Next video: http://bit.ly/1LGhiYF Help us caption & translate this video! http://amara.org/v/GGJQ/
Human Capital And Economic Growth
 
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Human Capital And Economic Growth Lecture By: Ms. Madhu Bhatia, Tutorials Point India Private Limited
Scarcity and the Fundamental Economic Problem
 
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This video discusses the concept of scarcity and the fundamental economic problem. People want an unlimited number of things: better health care, better education for children, less crime, etc. Unfortunately, there are a limited number of resources to satisfy people's wants and desires. Resources are scarce; we have a finite supply of oil, people, land, etc. Understanding how people deal with scarcity is central to the study of Economics. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 1273 Edspira
Meaning of Economics
 
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Economics, in the most literal sense, is the study of How an individual, society or a country uses limited or scarce resources available with it to satisfy unlimited wants
Views: 97398 Arinjay Academy
Finding Economic Freedom | Sangu Delle | TEDxOxford
 
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Africa’s rising is complicated by the reality of persistent poverty and income inequality. While 6 of the 10 fastest growing economies are in Africa, it’s alarming that we are home to 7 of the 10 most unequal countries in the world. We have economic growth, but not economic freedom. For me, economic freedom for us in Africa …an Africa where most of the economy is owned and controlled by Africans, an economy that provides jobs for its youth, an economy that matches strong economic growth with broad-based shared economic prosperity, an economy that offers opportunities to everyone to succeed, regardless of your age, your tribe or ethnicity, which political party you’re affiliated with, or your gender. Our economic freedom may very well lie in another resource, one that we’ve neglected for too long. Our women. Our female entrepreneurs. Research estimates that advancing women’s equality could potentially add $12 trillion to the global economy! $12 trillion! Born in Ghana, Sangu’s childhood home was a refuge for victims of torture and violence from Liberia and Sierra Leone. Sangu graduated from Harvard with highest honors in African Studies and Economics. Convinced that community needs can best be met through entrepreneurship, in 2008 he founded an investment holding company, Golden Palm Investments (GPI) to fund promising startups that can have social impact and generate jobs. GPI has backed startups throughout the continent such as Solo Mobile, mPharma,and Stawi Foods. GPI has built a portfolio of greenfield companies in healthcare, real estate, and financial services. Sangu has received several international accolades including being named Africa’s “Young Person of the Year” 2014, a 2014 TEDGlobal Fellow, one of Forbes’ top 30 most promising entrepreneurs in Africa in 2015 and Euromoney’s “Africa’s Rising Stars” award for “outstanding individuals who are changing the financial, investment and business landscape in Africa.” This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx
Views: 8156 TEDx Talks
Economic Scarcity and the Function of Choice
 
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Visit Study.com for thousands more videos like this one. You'll get full access to our interactive quizzes and transcripts and can find out how to use our videos to earn real college credit. YouTube hosts only the first few lessons in each course. The rest are at Study.com. Take the next step in your educational future and graduate with less debt and in less time.
Views: 40306 Study.com
Economics Tutoring Series - Hotelling's Rule
 
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In this video, we solve two problems for maximizing dynamic efficiency of a non renewable resource over two time periods. We do so using Hotelling's rule. After calculating the equilibrium prices in two periods for two different discount rates, we plot both of their price paths to demonstrate the effect that the discount rate has on price and extraction over time.
Views: 26607 Eric Recchia
Economic problems /urdu / hindi / by power knowledge
 
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ECONOMIC PROBLEMS OR CENTRAL PROBLEMS it arise due to resource gap. Our want is unlimited and resources are limited there for we are facing by economic problems. 3 main problems are discussed in this video. Q1. What to produce and how much? Q2. How to produce? Q3. For whom to produce? https://youtu.be/yQe5hcBzk7E
Views: 361 knowledge .power
Economic Problem
 
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Economic Problem watch more videos at https://www.tutorialspoint.com/videotutorials/index.htm Lecture By: Ms. Madhu Bhatia, Tutorials Point India Private Limited
(1/3) The Production Possibilities Frontier – Economic Lowdown, Ep. 8
 
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This segment uses the fictional economy of Econ Isle to discuss how limited resources result in a scarcity problem for the economy. Econ Isle’s production possibilities are graphed to show its frontier, and then used to discuss the opportunity costs of its production and consumption decisions. Instructors, learn more at https://www.stlouisfed.org/education/economic-lowdown-video-series/episode-8-production-possibilities-frontier/scarcity-opportunity-cost
Natural Resources and Sustainable Development. International Economic Law Perspectives
 
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BOOK REVIEW NATURAL RESOURCES AND SUSTAINABLE DEVELOPMENT International Economic Law Perspectives Edited by Celine Tan and Julio Faundez ISBN: 978 1 78347 837 8 (book) 978 1 78347 838 5 (ebook) Edward Elgar Publishing Limited www.e-elgar.com www.elgaronline.com IMPROVING THE GOVERNANCE OF WORLD NATURAL RESOURCES: A COMPENDIUM OF CURRENT LEGAL PERSPECTIVES FROM EDWARD ELGAR An appreciation by Elizabeth Robson Taylor of Richmond Green Chambers and Phillip Taylor MBE, Head of Chambers and Reviews Editor, “The Barrister” It would seem, at first glance, that the natural readership base for this book would be international lawyers specializing in environmental law. But no -- and not necessarily. Published recently by Edward Elgar Limited, the book is actually an excellent research handbook and a distinguished one at that. Comprising fifteen carefully researched articles by as many international contributors from top universities worldwide, it reflects the international disquiet regarding the governance (or lack of it) of natural resources, especially in situations where often obvious flaws in governance – particularly in developing countries -- can wreak devastating consequences within local populations. In such circumstances, almost inevitable tensions can arise between, say, investors and local communities affected, often adversely, by natural resources projects. Both from the University of Warwick (where discussions on these and related issues took place), editors Celine Tan and Julio Faundez remark that the chapters contained in this volume ‘highlight the fact that the international governance and management of natural resources has become an important area for international research law and policy-making as ‘conflict over their use becomes more acute’. The comment is made that while natural resources are central to global economic growth, problems often arise in the shape and form of legal, territorial and political disputes between states with in -- the worst situations -- negative impact on human rights. ‘These tensions’, say the editors ‘will only be resolved if the international community establishes a comprehensive and equitable legal framework for the regulation of natural resources’. This book will do much to advance the debate on the ways and means by which just such an equitable legal and political framework might possibly be achieved. It maintains a clear focus on the intersection between issues of regulation and governance on the one hand -- and environmental law, human rights law and other areas of international law, on the other. The articles on these points certainly cover a broad range of enquiry, from investment treaties. political risk insurance, tropical forests and climate change, to global value chains and the role of the WTO -- and of course, much more. Information-rich and erudite, this book with its emphasis on responsibility in the exploitation of natural resources, provides advocates and practitioners in this area of law with a lot of ammunition in disputes, debates and the more than occasional court battle on environmental and related issues. Specialists in political science and economics as they pertain to public policy, will also find the book useful, as it is further enriched by copious footnoting and lengthy and detailed bibliographies at the end of each article throughout. The publication date is cited as at 25th August 2017.
Views: 72 Phillip Taylor
Labor Markets and Minimum Wage: Crash Course Economics #28
 
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How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all factor in. In a lot of ways, labor markets work on supply and demand, just like many of the markets we talk about in Crash Course Econ. But, again, there aren't a lot of pure, true markets in the world. There are all kinds of oddities and regulations that change the way labor markets work. One common (and kind of controversial one) is the minimum wage. The minimum wage has potential upsides and downsides, and we'll take a look at the various arguments for an against it. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 540707 CrashCourse
The Islamic Economic model - a solution to economic problems of today
 
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Bismillahi Rahmani Raheem The Islamic economic system is neither Socialist nor Capitalist, but a "third way" with none of the drawbacks of the other two systems. Some brief examples of Islamic economic principles: • The fundamental economic problem is different from the capitalist model of unlimited wants and limited resources. Islam views the fundamental economic problem to be of fair distribution of resources by removing obstacles which prevent the fair distribution of resources • Interest is strictly forbidden, from banking, state and individual transactions in the Islamic economic model because it circulates wealth away from the people and society and circulates it to the wealthy - the rich grow richer • Certain resources cannot be held in private hands, under Shariah natural assets like oil, gas, water, belong to the people are considered public assets utilised for the public good and cannot be privately owned or sold for profit • Money must be asset backed i.e. by precious metals, gold and silver for example and have real real intrinsic value to prevent inflation • A Tax system (zakat) which taxes wealth and considers a tax on income as oppressive, tax collected is redistributed to provide income for the needy, including the poor, the elderly, orphans, widows, and the disabled The most well--known Islamic scholar who wrote about economics was Ibn Khaldun, who is considered a father of modern economics. Ibn Khaldun wrote on economic and political theory in the introduction, or Muqaddimah (Prolegomena), of his History of the World (Kitab al-Ibar). He discussed what he called asabiyya (social cohesion), which he cited as the cause of some civilizations becoming great and others not. Ibn Khaldun felt that many social forces are cyclic, although there could be sudden sharp turns that break the pattern. His idea about the benefits of the division of labor also relate to asabiyya, the greater the social cohesion, the more complex the successful division may be, the greater the economic growth. He noted that growth and development positively stimulates both supply and demand, and that the forces of supply and demand are what determines the prices of goods. He also noted macroeconomic forces of population growth, human capital development, and technological developments effects on development. In fact, Ibn Khaldun thought that population growth was directly a function of wealth.
Views: 13755 blueskyseven1
Monopolies and Anti-Competitive Markets: Crash Course Economics #25
 
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What is a monopoly? It turns out, it's more than just a board game. It's a terrible, terrible economic practice in which giant corporations dominate markets and hurt consumers. Except when it isn't. In some industries, monopolies are the most efficient way to do business. Utilities like electricity, water, and broadband internet access are probably less efficiently delivered in competitive markets. Come along, and let us monopolize your attention for a few minutes. You might learn something. And you might land on Free Parking. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 517569 CrashCourse
Intro to Economics: Crash Course Econ #1
 
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In which Jacob Clifford and Adriene Hill launch a brand new Crash Course on Economics! So, what is economics? Good question. It's not necessarily about money, or stock markets, or trade. It's about people and choices. What, you may ask, does that mean. We'll show you. Let's get started! Crash Course is now on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark Brouwer, Jan Schmid, Anna-Ester Volozh, Robert Kunz, Jason A Saslow, Christian Ludvigsen, Chris Peters, Brad Wardell, Beatrice Jin, Roger C. Rocha, Eric Knight, Jessica Simmons, Jeffrey Thompson, Elliot Beter, Today I Found Out, James Craver, Ian Dundore, Jessica Wode, SR Foxley, Sandra Aft, Jacob Ash, Steve Marshall TO: My Students FROM: Mrs. Culp Culpzilla's students are amazing! You guys rock! TO: Everyone FROM: Pankaj DFTBA and keep being the exception like the Mongols. Thank you so much to all of our awesome supporters for their contributions to help make Crash Course possible and freely available for everyone forever: Summer Naugle, Minnow, Ilkka Hemmilä, Kaitlyn Celeste, Lee Toran, Sarty, Damian Shaw, Nathaniel "The Skipper" Cruz Chavez, Maura Doyle, Chris, Sander Mutsaers Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 3733549 CrashCourse
AS Level Economics 1.The Basic Economic Problem
 
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by Paj Holden, Saint Lawrence College The Basic Economic Problem Scarcity Limited Resources and Unlimited Wants & Needs Oppportunity Cost
Views: 11162 Open Courseware
economic problem - scarcity and choice|| #1|| YOUTH CLASSES
 
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Economic problem is to match limited resources to unlimited wants and needs.
3 economic questions, 4 factors of production, 2 generic strategies in management, marketing
 
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The video reveals must-know theories on how to start a business, which are consistent with the courses in economics and management taught at universities. 1. All businesses must respond to 3 basic economic questions: What? For whom? And How? They must decide what to produce, how to produce and how to promote their products among the target consumers given limited resources. 2. Businesses must decide what will make their goods or services different from those offered by competitors, in other words, what their competitive advantage will be. They have to pursue either cost leadership strategy or differentiation strategy. 3. In order to craft their marketing strategy, businesses have to perform the following 3 steps: Market Segmentation - Targeting - Positioning. 4. Businesses must define the optimal mix of limited inputs. In economics, they are known as 4 factors of production: land, labour, capital and entrepreneurship. The text version can be found here: https://topmanagementtips.wordpress.com/2019/02/01/basic-academic-course-for-managers/
Views: 44 Mond Management
Economic Systems | Capitalist vs Socialist economies | The Openbook
 
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Please watch: "Nikola Tesla | The Untold Story | The Open Book" https://www.youtube.com/watch?v=1dQkjU8WmMk --~-- Classroom learning is not only enough for kids, Here TheOpenBook providing printable and online worksheets to help younger kids to learn their alphabets, numbers, shapes, colors and other basic skills. For more info visit our website: http://theopenbook.in/ Subscribe to our Channel : https://www.youtube.com/theopenbook Facebook : https://www.facebook.com/theopenbookedu Subscribe : https://www.youtube.com/theopenbook Add Us on Google+ : https://plus.google.com/u/0/108040655759155293071 Twitter : https://twitter.com/thenewopenbook blogger : https://smartedukids.blogspot.in/ Economies pros and cons This video attempts to give an insight into the type of economies and their advantages and disadvantages. Before discussing types of economies it is essential for us to understand what an economy is. In broad terms economy is a framework under which activities are undertaken. Activities could be both economic and non economic. An economic activity refers to anything that allows some kind of gain monetarily. A non economic activity does not have any monetary gain. Economies can be divided into two types formal and informal. A formal economy is one in which there are rules and regulations and all activities are undertaken systematically. On the other hand an informal economy is one in which there are no prescribed rules and activities are undertaken without any particular system. When we discuss formal economies we divide them into three categories as capitalist, socialist and communist. OF these the two most popular are capitalist and socialist. How do these economies get their name? It is based on the ownership of the factors of production. What are they? They are land, labour, capital and organization or entrepreneurship. These help the production process to take place. What then is a capitalist economy? A capitalist economy is one where the factors of production are owned by individuals. So the essential feature is private enterprise and the motive for production is profit. Many of the leading countries of the world follow this type of economy. U.S.A is the example of a capitalist economy. Production is undertaken on the basis of the market forces of demand and supply. Here the consumer reigns supreme and it is his demand which directs the production process. As a result the commodities in the market would be more of luxury and comforts. Bare necessities are rarely produced. The price is also fixed by the market forces and more the demand the prices soar as supply cant mach the rising demand in a short period. In this type of economy the policy of minimum intervention is followed by the government. The government’s role is limited to giving licenses and settling any kind of arbitration. Hence it was termed as a Laissez-Faire economy. Another feature of this economy is that production has to be continuous for the economy to operate efficiently. Since the goal is profit the resources in the economy are optimally used. It is a growth oriented economy. We shall now look into the working of a socialist economy. As the name suggests a socialist economy is one where the factors of production are publically owned or cooperatives. The individual is compensated according to the work they put in. Each one according to their ability The scope of production is large scale and the dividends that occurred are reinvested in society. Goods necessary for the upliftment of society and their needs are produced. Economic efficiency is of a high order as the government is in charge of the factors of production. It is a planned economy with economic planning by the government. Economic inequality is minimum in a socialist economy. Having seen the salient features of these two types of economies the question arises which economy would we prefer. Both the economies have their advantages and disadvantages. In a capitalist economy the production of goods and services are based on demand so wastage is minimum. Though it is a growth oriented economy the chances of concentration of wealth in a few hands is possible. Monopoly of a few companies wiping out smaller companies is the norm of a capitalist economy. On the other hand in a socialist economy the production of goods and services being in the hands of the government there is more equitable distribution of wealth. Necessities of the people are produced and social welfare for larger sections of people take place. In conclusion it can be said that both economies have the good and the bad and the middle path or the golden mean as it is usually referred to works well. This type of economy followed in India is the mixed economy. #theopenbook #Education #Educationalvideos #Studyiq #learn #Cbse #icse #ssc #generalknowledge
Views: 9344 theOpenBook
Economic Development Unit:  Introduction and Overview
 
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Your IB Economics Course Companion! This is video 1 of 6 videos in “The Economic Development Series”. Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkEhlr-c4dpa1xqQf-Sq2BXv The List! Here is the “The List” for “The Economic Development Series”: For an explanation of the logic of “The Lists” click here: https://youtu.be/dE0fbsgXlFE What is economic development? Sources of economic growth 1. Natural factors 2. Human capital factors 3. Physical capital and technological factors 4. Institutional factors Does economic growth lead to economic development? 1. Higher incomes 2. Improved economic indicators of welfare 3. Higher government revenues 4. Creation of inequality 5. Negative externalities and lack of sustainability Common characteristics of developing countries 1. Low standard of living, low incomes, inequality, poor health, and inadequate education 2. Low levels of productivity 3. High rates of population growth and dependency burdens (child and old age ratios) 4. High and rising levels of unemployment and underemployment 5. Substantial dependence on agricultural production and primary market exports 6. Prevalence of imperfect markets and limited information 7. Dominance, dependence, and vulnerability in international relations Diversity among developing nations 1. Resource endowment 2. Historical background 3. Geographic and demographic factors 4. Ethnic and religious breakdown 5. The structure of industry 6. Per capita income levels 7. Political structure International development goals 1. Goal 1: Eradicate extreme poverty and hunger 2. Goal 2: Achieve universal primary education 3. Goal 3: Promote gender equality and empower women 4. Goal 4: Reduce child mortality 5. Goal 5: Improve maternal health 6. Goal 6: Combat HIV/AIDS, malaria, and other diseases 7. Goal 7: Ensure environmental sustainability 8. Goal 8: Develop a Global Partnership for Development I hope you find these videos helpful to your study of Economics. Enjoy! Brad Cartwright . Follow on Twitter: IB Specific News and Analysis Daily! https://twitter.com/econ_ib . Follow on Instagram: https://www.instagram.com/econcoursecompanion/ Support Econ Course Companion: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=CQS377QG4VM4G&source=url
Views: 3183 Econ Course Companion
Welcome to Med School Insiders!
 
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Welcome to Med School Insiders - the ultimate resource for pre-med and medical students to live more effective and efficient lives. We're all about creating a generation of happier, healthier, and more effective future doctors. See all that we're about here: https://medschoolinsiders.com And follow the action on our Instagram, Facebook, and Twitter accounts: TWITTER: https://twitter.com/MedInsiders FACEBOOK: https://www.facebook.com/medschoolinsiders INSTAGRAM: https://www.instagram.com/medschoolinsiders If you want to see our recommended buys for students, click here: https://www.amazon.com/shop/medschoolinsiders =============== May include affiliate links to Amazon. As an Amazon Associate, I may earn a commission on qualifying purchases made through them (at no extra cost to you). Disclaimer: Content of this video is my opinion and does not constitute medical advice. The content and associated links provide general information for general educational purposes only. Use of this information is strictly at your own risk. Kevin Jubbal, M.D. and Med School Insiders LLC will not assume any liability for direct or indirect losses or damages that may result from the use of information contained in this video including but not limited to economic loss, injury, illness or death.
Views: 4853 Med School Insiders
Consumer Optimization
 
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We live in a world of scarcity. In other words, what we want outweighs what we can attain. Why? Well, we have limited resources – money, options, time, etc. When you’re making choices about what to buy, your budget, the prices of goods and services, and your preferences all act as constraints. To better illustrate this idea, let’s return to our simple example of pizzas and coffees. Let’s also assume that you like both pizza and coffee and want more of both. If you were to look at a map of your indifference curves for these goods, you’d see that you get the most utility on the indifference curve farthest from the origin. But, since scarcity is our reality, that level of utility is probably not achievable. Combining your budget constraint with your indifference curves can help you see how to get maximum utility given your resources. Any point at which your budget constraint lies tangent to an indifference curve is an optimal combination of pizzas and coffees. Why is it optimal? Two simple reasons: 1) You can afford it, and 2) it will give you the most happiness (aka utility). In this video, Arizona State University’s Professor Joana Girante will further explain the concept consumer optimization and how it applies to your everyday life. She’ll also cover why your points of consumer optimization will never intersect, but always lie tangent to, your indifference curves. Finally. Prof. Girante will go over marginal rates of substitution in more detail. Subscribe for new videos every Tuesday! http://bit.ly/1Rib5V8 Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/2sRKDAa Next video: http://bit.ly/2k1nUOK
Complexity Economics Overview
 
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See the full course: https://systemsacademy.io/courses/complexity-theory/ Twitter: http://bit.ly/2HobMld Short overview to the area of complexity economics and heterodox economics. Transcription: Complexity economics is a new paradigm within economic theory that see the economy as a complex adaptive systems, composed of multiple diverse agents interaction through networks and evolving overtime. It is one of a number of alternative economic theories that have arisen over the past few decade, due to a growing wariness to the limitations of our existing economic theory. So lets first talk a bit about this standard approach to economic theory. The foundations to modern economics date back to the 18th century where it borrowed much of the formal apparatus of mathematics and the natural sciences, especially from physics with its classical mechanistic view of the world in terms of linear deterministic cause and effect. Within this paradigm of classical economics individual human behavior is comparable to the physical laws of motion, it is both regular, predictable and largely deterministic, meaning the standard tools of mathematic can be applied. Classical economics models the economy as a closed system, that is to say separate from social, environmental and cultural factors, which are not include in the models thus the social domain is constituted by sets of isolated individuals that are governed purely by economic self-interest. Similar to classical physics equilibrium is a fundamental assumption of many economic models, according to the equilibrium paradigm, there are optimal states to the economy, to which the system will automatically and quickly evolve, driven by the market forces of supply and demand. This idea is enshrined in the metaphor of the 'invisible hand'. Lastly standard economic inherited the reductionist view of classical physics implying that the behavior of a society and its institutions does not differ in kind from the sum of its individual agents, thus the behavior of all the agents together can be treated as corresponding to that of an average individual. By applying these assumption standard economics has converted what was once a branch of moral philosophy into a powerful framework based upon formal mathematics, that has proven to be a solid foundation in supported the massive economic transformation that was the industrial revolution. Today major trends such as the rapid development of our global economy, the rise of financial capitalism, the huge growth in the services, knowledge and information economy and environmental awareness are all working to reveal the limitations in the foundation assumptions of classical economics. In response to these changes a number of new economic theories have emerged Under the heading of heterodox economics, that all emphasize a need for an expansion of our economic framework to incorporate new social, cultural and environmental parameters to give a more realistic vision of how economies functions in practice. Primary among these is behavioral economics that ties to go beyond the classical model of the individual motivated by rational self-interest to incorporate a richer set of cultural and social motives driving individuals behavior. Or environmental economics is another area, that tries to address the failure of the current framework to incorporate the value accruing from natural resources and ecosystems services. Complexity economics is part of this alternative theoretical framework, Representing a new paradigm that sees the economy as a complex adaptive system, composed of multiple agents with diverse motives, whose interaction within networks give rise to emergent structures such as enterprises and markets. Instead of seeing the economy as the product of isolated individuals making rational choices with perfect information resulting in efficiency markets, complexity economics see the individual as embed within social and cultural networks that influence there behavior and with limited information that often leads them to make apparently irrational actions, resulting in suboptimal markets. As opposed to seeing the economy as the product of a static equilibrium Complexity economics instead is more focus upon the non-equilibrium processes that transform the economy from within, through continuous adaptation and the emergence of new institutions and technologies as the economy evolves over time. Complexity economic applies this concept of evolution to understanding the dynamics of economic development, which is understood as a process of differentiation, selection and amplification, acting on designs for technologies, social institutions and businesses that drives continuous change within the economy.. see http://www.fotonlabs.com for full transcrition Twitter: http://bit.ly/2TTjlDH Facebook: http://bit.ly/2TXgrOo LinkedIn: http://bit.ly/2TPqogN
Views: 12425 Systems Academy
Economic Development Unit: Does Growth Equal Development?
 
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Your IB Economics Course Companion! This is video 3 of 6 videos in “The Economic Development Series”. Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkEhlr-c4dpa1xqQf-Sq2BXv The List! Here is the “The List” for “The Economic Development Series”: For an explanation of the logic of “The Lists” click here: https://youtu.be/dE0fbsgXlFE What is economic development? Sources of economic growth 1. Natural factors 2. Human capital factors 3. Physical capital and technological factors 4. Institutional factors Does economic growth lead to economic development? 1. Higher incomes 2. Improved economic indicators of welfare 3. Higher government revenues 4. Creation of inequality 5. Negative externalities and lack of sustainability Common characteristics of developing countries 1. Low standard of living, low incomes, inequality, poor health, and inadequate education 2. Low levels of productivity 3. High rates of population growth and dependency burdens (child and old age ratios) 4. High and rising levels of unemployment and underemployment 5. Substantial dependence on agricultural production and primary market exports 6. Prevalence of imperfect markets and limited information 7. Dominance, dependence, and vulnerability in international relations Diversity among developing nations 1. Resource endowment 2. Historical background 3. Geographic and demographic factors 4. Ethnic and religious breakdown 5. The structure of industry 6. Per capita income levels 7. Political structure International development goals 1. Goal 1: Eradicate extreme poverty and hunger 2. Goal 2: Achieve universal primary education 3. Goal 3: Promote gender equality and empower women 4. Goal 4: Reduce child mortality 5. Goal 5: Improve maternal health 6. Goal 6: Combat HIV/AIDS, malaria, and other diseases 7. Goal 7: Ensure environmental sustainability 8. Goal 8: Develop a Global Partnership for Development I hope you find these videos helpful to your study of Economics. Enjoy! Brad Cartwright . Follow on Twitter: IB Specific News and Analysis Daily! https://twitter.com/econ_ib . Follow on Instagram: https://www.instagram.com/econcoursecompanion/ Support Econ Course Companion: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=CQS377QG4VM4G&source=url
Views: 4077 Econ Course Companion
Economic Psychology V Behavioral Economics
 
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Comparing Behavioral Economics & Economic Psychology Welcome back to the business psychology Hub Behavioural economics and Economic psychology both apply economic and psychological principles to study human resource related behaviours. So how are these two disciples different? Behavioural Economics is a sub-discipline within the field of behavioural finance. • Behavioural economists often gather data through behaviour choice experiments and examines human heuristics (that is rules of thumbs) for economic decisions. • Behavioural economics also often compares human behaviour against economic assumptions of rationality. For examples, do humans weigh up all the available information available or are humans cognitively limited in our ability to process information? If are cognitively limited does that mean we make poor decisions? Examples of behavioural economics findings include that people weigh up information about benefits of a purchase differently to how they weigh up the information on the costs of a purchase. Behavioural economics also concludes that people discount the value of future choices faster that the assumptions proposed by standard economic theory. • Examples of other topics that behavioural economics reviews include: impact of fairness of rules on group economic decision making, stock market behaviour and game theory. Economic psychology applies cognitive theories to economic topics • Economic psychologists focus more heavily on what people are thinking or experiencing when they are faced with an economic decision. In other words it is the study of mental life during economic behaviour • Economic psychologist are more likely to gather research data via questionnaires and are less likely to collect data on economic choices. • Economic psychologists are more likely to study perceptions and emotions. For example, how do we feel about different types of taxation? What are the differences in how people experience an economic dilemma such as a resource shortage? And what is the purchasing behaviour of different personality types? There is no clear distinction between economic psychology and behaviour economics. For example, both sub-disciplines draw heavily upon the research of Tversky & Kahneman. In general, however, economic psychologists are more likely to have been trained as a cognitive psychologists, whereas behaviour economists are more likely to be trained as an economist.
Views: 3340 BusinessPsychologyHub
Anglo-saxon economic model and the productivity puzzle.
 
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Georgism, also called geoism and single tax(archaic), is an economic philosophy holding that, while people should own the value they produce themselves, economic value derived from land (including natural resources and natural opportunities) should belong equally to all members of society. Developed from the writings of the economist and social reformer Henry George, the Georgist paradigm seeks solutions to social and ecologicalproblems, based on principles of land rights and public finance which attempt to integrate economic efficiency with social justice. Georgism is concerned with the distribution of economic rent caused by natural monopolies, pollution, and the control of commons, including title of ownership for natural resources and other contrived privileges (e.g., intellectual property). Any natural resource which is inherently limited in supply can generate economic rent, but the classical and most significant example of 'land monopoly' involves the extraction of common ground rent from valuable urban locations. Georgists argue that taxing economic rent is efficient, fair, and equitable. The main Georgist policy recommendation is a tax assessed on land value. Georgists argue that revenues from a land value tax (LVT) can be used to reduce or eliminate existing taxes (for example, on income, trade, or purchases) that are unfair and inefficient. Some Georgists also advocate for the return of surplus public revenue back to the people by means of a basic income or citizen's dividend. Economists since Adam Smith have observed that, unlike other taxes, a public levy on land value does not cause economic inefficiency. A land value tax also has progressive tax effects, in that it is paid primarily by the wealthy (the landowners), and it cannot be passed on to tenants, workers, or users of land. Advocates of land value taxes argue that it would reduce economic inequality, increase economic efficiency, remove incentives to under-utilize urban land, and reduce property speculation.The philosophical basis of Georgism dates back to several early thinkers such as John Locke, Baruch Spinoza, and Thomas Paine,but the concept of gaining public revenues mainly from land and natural resource privileges was widely popularized by Henry George and his first book, Progress and Poverty (1879). Georgist ideas were popular and influential during the late 19th and early 20th century.Political parties, institutions and communities were founded based on Georgist principles during that time. Early devotees of Henry George's economic philosophy were often termed Single Taxers for their political goal of raising public revenue mainly from a land value tax, although Georgists endorsed multiple forms of rent capture (e.g., seigniorage) as legitimate.The term Georgism was invented later, and some prefer the term geoism to distinguish their beliefs from those of Henry George. Source: https://youtu.be/gRYgAw8byhM
Views: 108 Suso Medin
USMLE Step 1 - UFAP + Supplemental Resources I Used
 
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I used UFAP when studying for USMLE Step 1, but I also used some supplemental resources, including Anki and Sketchy Medical. Here's how I managed and used the different resources. Use coupon code MSI20 for 20% off your subscription! Valid until 3/13: http://bit.ly/2DjhDV1. Enter to win 3 months of Sketchy Free! Follow both https://instagram.com/medschoolinsiders and https://instagram.com/kevinjubbalmd Clinical Microbiology Made Ridiculously Simple: https://geni.us/microbiology USMLE Step 1 Dedicated Period Video: https://youtu.be/oPZewnPQkkw Memorization Technique Video: https://youtu.be/GcN4LcjLFd4 **BECOME AN INSIDER!** https://patreon.com/medschoolinsiders Monthly Q&A, Commentary Exclusives, & Much More! ==================== WEBSITE: https://medschoolinsiders.com INSTAGRAM: https://www.instagram.com/kevinjubbalmd TWITTER: https://twitter.com/kevinjubbalmd FACEBOOK: https://www.facebook.com/medschoolinsiders AMAZON STORE: https://www.amazon.com/shop/medschoolinsiders ==================== Music: http://soundcloud.com/iamryanlittle May include affiliate links to Amazon. As an Amazon Associate, I may earn a commission on qualifying purchases made through them (at no extra cost to you). Disclaimer: Content of this video is my opinion and does not constitute medical advice. The content and associated links provide general information for general educational purposes only. Use of this information is strictly at your own risk. Kevin Jubbal, M.D. and Med School Insiders LLC will not assume any liability for direct or indirect losses or damages that may result from the use of information contained in this video including but not limited to economic loss, injury, illness or death.
Views: 9607 Kevin Jubbal, M.D.
Economic Development Unit:  Common Characteristics of Developing Countries
 
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Your IB Economics Course Companion! This is video 4 of 6 videos in “The Economic Development Series”. Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkEhlr-c4dpa1xqQf-Sq2BXv The List! Here is the “The List” for “The Economic Development Series”: For an explanation of the logic of “The Lists” click here: https://youtu.be/dE0fbsgXlFE What is economic development? Sources of economic growth 1. Natural factors 2. Human capital factors 3. Physical capital and technological factors 4. Institutional factors Does economic growth lead to economic development? 1. Higher incomes 2. Improved economic indicators of welfare 3. Higher government revenues 4. Creation of inequality 5. Negative externalities and lack of sustainability Common characteristics of developing countries 1. Low standard of living, low incomes, inequality, poor health, and inadequate education 2. Low levels of productivity 3. High rates of population growth and dependency burdens (child and old age ratios) 4. High and rising levels of unemployment and underemployment 5. Substantial dependence on agricultural production and primary market exports 6. Prevalence of imperfect markets and limited information 7. Dominance, dependence, and vulnerability in international relations Diversity among developing nations 1. Resource endowment 2. Historical background 3. Geographic and demographic factors 4. Ethnic and religious breakdown 5. The structure of industry 6. Per capita income levels 7. Political structure International development goals 1. Goal 1: Eradicate extreme poverty and hunger 2. Goal 2: Achieve universal primary education 3. Goal 3: Promote gender equality and empower women 4. Goal 4: Reduce child mortality 5. Goal 5: Improve maternal health 6. Goal 6: Combat HIV/AIDS, malaria, and other diseases 7. Goal 7: Ensure environmental sustainability 8. Goal 8: Develop a Global Partnership for Development I hope you find these videos helpful to your study of Economics. Enjoy! Brad Cartwright . Follow on Twitter: IB Specific News and Analysis Daily! https://twitter.com/econ_ib . Follow on Instagram: https://www.instagram.com/econcoursecompanion/ Support Econ Course Companion: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=CQS377QG4VM4G&source=url
Views: 20192 Econ Course Companion
1329. Basic Problems in Economy -  What is produced & what quantities
 
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Download Arinjay Academy app at : - https://play.google.com/store/apps/details?id=com.arinjayacademy You can access our content at https://www.arinjayacademy.com/learn In an economy, the factors of production are limited. Hence, the limited resources available are to be used for production of only certain commodites and not all of them. Hence the question of What is to be produced and in what quantities.
Views: 1080 Arinjay Academy
The Venus Project - Resource Based Economy
 
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The term and meaning of a Resource-Based Economy was originated by Jacque Fresco. It is a holistic social and economic system in which all goods and services are available without the use of money, credits, barter or any other system of debt or servitude. All resources become the common heritage of all of the inhabitants, not just a select few. The premise upon which this system is based is that the Earth is abundant with plentiful resource; our practice of rationing resources through monetary methods is irrelevant and counter productive to our survival. Modern society has access to highly advanced technology and can make available food, clothing, housing and medical care; update our educational system; and develop a limitless supply of renewable, non-contaminating energy. By supplying an efficiently designed economy, everyone can enjoy a very high standard of living with all of the amenities of a high technological society. A resource-based economy would utilize existing resources from the land and sea, physical equipment, industrial plants, etc. to enhance the lives of the total population. In an economy based on resources rather than money, we could easily produce all of the necessities of life and provide a high standard of living for all.
Views: 130607 The Venus Project
Economic Development Unit: Diversity Among Developing Nations
 
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Your IB Economics Course Companion! This is video 5 of 6 videos in “The Economic Development Series”. Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkEhlr-c4dpa1xqQf-Sq2BXv The List! Here is the “The List” for “The Economic Development Series”: For an explanation of the logic of “The Lists” click here: https://youtu.be/dE0fbsgXlFE What is economic development? Sources of economic growth 1. Natural factors 2. Human capital factors 3. Physical capital and technological factors 4. Institutional factors Does economic growth lead to economic development? 1. Higher incomes 2. Improved economic indicators of welfare 3. Higher government revenues 4. Creation of inequality 5. Negative externalities and lack of sustainability Common characteristics of developing countries 1. Low standard of living, low incomes, inequality, poor health, and inadequate education 2. Low levels of productivity 3. High rates of population growth and dependency burdens (child and old age ratios) 4. High and rising levels of unemployment and underemployment 5. Substantial dependence on agricultural production and primary market exports 6. Prevalence of imperfect markets and limited information 7. Dominance, dependence, and vulnerability in international relations Diversity among developing nations 1. Resource endowment 2. Historical background 3. Geographic and demographic factors 4. Ethnic and religious breakdown 5. The structure of industry 6. Per capita income levels 7. Political structure International development goals 1. Goal 1: Eradicate extreme poverty and hunger 2. Goal 2: Achieve universal primary education 3. Goal 3: Promote gender equality and empower women 4. Goal 4: Reduce child mortality 5. Goal 5: Improve maternal health 6. Goal 6: Combat HIV/AIDS, malaria, and other diseases 7. Goal 7: Ensure environmental sustainability 8. Goal 8: Develop a Global Partnership for Development I hope you find these videos helpful to your study of Economics. Enjoy! Brad Cartwright . Follow on Twitter: IB Specific News and Analysis Daily! https://twitter.com/econ_ib . Follow on Instagram: https://www.instagram.com/econcoursecompanion/ Support Econ Course Companion: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=CQS377QG4VM4G&source=url
Views: 2360 Econ Course Companion
Global Economy Expected to Grow 3% in 2019 Despite Risks - World Economic Situation and Prospects
 
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Speakers: Mr. Elliott Harris, UN Chief Economist and Assistant Secretary-General for Economic Development and Dawn Holland, Chief, Global Economic Monitoring Branch, Economic Analysis and Policy Division, Department of Economic and Social Affairs (EPAD/DESA). The World Economic Situation and Prospects (WESP) report is a joint product of the United Nations Department of Economic and Social Affairs (UN/DESA), the United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions (Economic Commission for Africa (ECA), Economic Commission for Europe (ECE), Economic Commission for Latin America and the Caribbean (ECLAC), Economic and Social Commission for Asia and the Pacific (ESCAP) and Economic and Social Commission for Western Asia (ESCWA)). WESP Report website: https://www.un.org/development/desa/dpad/document_gem/global-economic-monitoring-unit/world-economic-situation-and-prospects-wesp-report/ UN Chief Economist Elliott Harris said while global economic growth remained on a fairly steady trajectory in 2019, “the world economy is faced with a confluence of rising risks with the potential to severely disrupt economic activity and inflict significant damage on longer term development prospects.” Harris spoke to reporters in New York today (21 Jan) on the findings of the UN’s annual World Economic Situation and Prospects report (WESP). The report projected that economic activity was expected to expand at a steady pace of three percent and found that unemployment rates had dropped to historic lows in many countries. However, Harris said a closer look beneath the surface reveals significant issues with the foundations and quality of global economic growth. He said growth is “uneven, and it is often failing to reach the countries and the groups where it is most needed” with per capita incomes expected to “stagnate or grow only marginally in 2019 in several parts of Africa, Western Asia, and Latin America and the Caribbean.” He said international trading tensions escalated, particularly between the United States and China, while public and private debt has risen to historic highs. The Chief Economist said while adverse effects have been largely contained, these factors cast a shadow over the economic outlook for 2019 and beyond. Elliott Harris, UN Chief Economist and Assistant Secretary-General for Economic Development: “In the case of a downturn in global economic activity, policy makers around the world will struggle to react forcefully because monetary and fiscal space in many countries is now much more limited than it was at the outbreak of the global financial and economic crisis a decade ago. And, given the waning support for multilateral approaches, coordinated action in response to the shock, or any shock, similar to the response to the global financial crisis may be more difficult to achieve.” Harris said long-term challenges such as climate change “have now become increasingly short-term risks.” He added, “In recent years, we have seen an increasing number of extreme weather events that have had a particularly damaging effect on vulnerable countries, including many Least Developed Countries and Small Island Developing States; building resilience by supporting the most vulnerable countries to invest in climate- resilient infrastructure, is as important as rebuilding after a disaster.” The Chief Economist underscored that the “essential transition” towards sustainable consumption and production patterns globally was “simply not happening fast enough.” He said economies remained far too dependent on carbon, energy, and the use of resources and stressed the need to “to delink economic growth from environmental degradation and this means shifting our resources away from investments in the old brown technologies towards investments in new, more resource-efficient and low-carbon technologies.” Harris emphasized that global problems could only be confronted through collective action, adding that a withdrawal from multilateralism would further set back those who are already being left behind. He said, “Some countries are doing reasonably well, but other are not. By the same token, income levels are varying across the world. Inequality has risen within countries. And what we see happening is more and more people are registering dissatisfaction with the outcomes of our global system, without having their policy makers explain to them what actually is going on. And so that frustration then makes for a growing readiness to, let’s say, be receptive, if you will, to nationalist arguments saying ‘let’s do what is best for us individually, as a country, as a nation’; rather than the support for the multilateral approach that we have seen over the past 40 years. And we think that that is a real problem, because it does undermine the ability of the world to deal with some of our global problems in a collective manner.”
Views: 1192 United Nations
An Economic History of the World Since 1400 | The Great Courses
 
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Try a Free Trial of The Great Courses Plus here: https://www.thegreatcoursesplus.com/special-offer?utm_source=US_OnlineVideo&utm_medium=SocialMediaEditorialYouTube&utm_campaign=136320 Money truly does make the world go ‘round. And yet, when it comes to the study of world history, most of us focus on politics, society, and culture. We often overlook the vital importance of economics. Economics has, in many regards, created the world. Not only is it the process through which societies provide for the well-being of their citizens, it has also driven everything from trade and politics to warfare and diplomacy. In fact, there’s not a single aspect of history that has not, in some way, been influenced by economic practices. Most of us, even those savvy at following today’s market fluctuations, have a limited understanding of the powerful role economics has played in shaping human civilization. This makes economic history—the study of how civilizations have structured their environments in order to provide food, shelter, and material goods—a vital lens through which to think about how we arrived at our present, globalized moment. It’s also a way to educate yourself about the history behind today’s (and tomorrow’s) economic headlines, from trade negotiations to job outsourcing to financial miracles. Designed to fill the long-empty gap in how we think about modern history, An Economic History of the World since 1400 is a comprehensive, 48-lecture journey through more than 600 years of economic history, from the feudal system of the medieval world to the high-speed information economy of the 21st century. Aimed at the layperson who has only a cursory understanding of economics, these lectures illustrate the fascinating links between economics and history, revealing how the production, consumption, and exchange of goods has influenced (and been influenced by) historical events and trends, including the Black Death, the Age of Exploration, the invention of the printing press, the Industrial Revolution, the European colonization of Africa, the collapse of the Soviet Union, the rise of China and India, and the birth of personal computing. How can concepts like prices, resource allocation, production methods, technological development, and labor steer the fates of entire nations and ways of life? In the hands of economic historian and award-winning professor Donald J. Harreld of Brigham Young University, this profound question forms the foundation of an exciting Great Course that transforms the basic economic worries of providing for one’s welfare into a riveting, centuries-long story of power, glory, and ideology. Don’t forget to subscribe to our channel – we are adding new videos all the time! https://www.youtube.com/subscription_center?add_user=TheGreatCourses
I Made $1,973,740,881 Mass Producing Organs - Industry Manager
 
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I Made $1,973,740,881 Mass Producing Organs - Industry Manager Subscribe if you like! + http://bit.ly/1PG8z9G Watch More Strange Simulator Games Here! + https://youtube.com/watch?v=n4CisUucR68&list=PLw8xXEJ0p21dZZE5yZ8wbks2F674kl5iH Everyone needs organs. Follow me on Twitter! + https://twitter.com/GrayStillPlays Like me on Facebook! + https://www.facebook.com/graystillplays/ Industry Manager: Future Technologies on Steam! + https://store.steampowered.com/app/384080/Industry_Manager_Future_Technologies/ ---------------------------------- Watch More From GrayStillPlays: The Best VR Games: https://www.youtube.com/watch?v=5aHtqaUilsU&list=PLw8xXEJ0p21fqRS8Og9EgEQPlIMtCDCFw The Strangest Random Games: https://www.youtube.com/watch?v=5aHtqaUilsU&list=PLw8xXEJ0p21dZZE5yZ8wbks2F674kl5iH The Long Dark Story Mode: https://www.youtube.com/playlist?list=PLw8xXEJ0p21cRpG2ekPnXgCBd5mwB2bFu Ravenfield: https://www.youtube.com/watch?v=6Qm-oPk13F0&list=PLw8xXEJ0p21f33Ch39OBlmbON7HRIXqzu Total Tank Simulator: https://www.youtube.com/watch?v=qrb7ktzaRTc&list=PLw8xXEJ0p21ff_ky6fggbPQo_hlsuxczq My Summer Car: https://www.youtube.com/watch?v=75N96As-2Kg&list=PLw8xXEJ0p21fSpKwt_HOlpsLVSnykDpa2 My Little Blacksmith Shop: https://www.youtube.com/watch?v=-GQEOwtOQCM&list=PLw8xXEJ0p21e93cljO92di6wdJapOJ8DV BeamNG Drive: https://www.youtube.com/watch?v=jA9NIiTgcV4&list=PLw8xXEJ0p21cYOq_6dHYfRsBukbTlOAzy Brick Rigs: https://www.youtube.com/watch?v=MMjJLWWtpTg&list=PLw8xXEJ0p21eouNgeRox6tSwWvc1utwF7 Raft: https://www.youtube.com/watch?v=_Ku9IyFNB-s&list=PLw8xXEJ0p21fIDAAlug4WKQQyRnPZWWT6 Ultimate Epic Battle Simulator: https://www.youtube.com/watch?v=6I_3dq60d_A&list=PLw8xXEJ0p21dHe6ValEsWiRogVVtqXMg3 ---------------------------------- ABOUT: Industry Manager: Future Technologies Have you always dreamed of building your own empire and raking in the big money? The world is changing fast and a second industrial revolution is right around the corner. Economy is changing from an industrial one into a technological-driven one and you can't be left behind. INDUSTRY MANAGER: Future Technologies is a classic economy simulation in which you can build your own empire, research new sustainable products, and sweep aside the competition on your way to fame and success. Take a market-oriented approach to design, produce, position and sell modern products. With limited liquid capital and an eye for the right product range, you can become the most successful capitalist in the world! INDUSTRY MANAGER: Future Technologies focuses on a sophisticated single-player experience, offering you a complex economic system. Your aim: To build a profitable empire by expanding your product range and researching new products, thereby outsmarting your competitors. But your mission won't be easy! Among other things, you'll have to consider the global market when expanding your production pipeline. Build your empire on the laws of supply and demand, market your products based on their best qualities and sell them in different markets. You'll need to build your production chain as economically as possible, based on market research and the availability of resources, in order to develop and distribute goods with maximum efficiency. By researching new production technologies and product innovations you'll be able to improve and advance your consumer goods. Always keep an eye on your competitors as they also have their own agendas and will influence the dynamic market as well as supply and demand. Develop completely new, customizable products such as the energy-efficient airplane, a digital computer watch or an exclusive bicycle with three wheels. INDUSTRY MANAGER: Future Technologies offers an intuitive user interface perfect for beginners, but also a range of configuration options to delight advanced players too. INDUSTRY MANAGER: Future Technologies is a sandbox economy simulation with a vibrant economic system, complete with supply and demand. The economy doesn't stand still, but is influenced by all your actions and those of your opponents. Sell your products locally in your stores or globally on the world market. Later in the game you can also buy and sell stocks on the stock market and take over your opponents' companies. Features: Sandbox gameplay: You have full decision-making power Build your own business empire Over 200 different products & resources Located in a modern setting Research new technologies for production and products to become the innovator of your own company Compete with and outsmart AI opponents Complex economic system, based on supply and demand Buy stocks in your competitors' companies on the stock market and take them over #graystillplays #indie #simulation
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THE BASIC ECONOMIC PROBLEM
 
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This video teaches you what the basic economic problem is-- Created using PowToon -- Free sign up at http://www.powtoon.com/ . Make your own animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
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Causes of Economic Problems
 
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Causes of Economic Problems watch more videos at https://www.tutorialspoint.com/videotutorials/index.htm Lecture By: Ms. Madhu Bhatia, Tutorials Point India Private Limited