Videos uploaded by user “Steve Lobsey”
Lorenz Curve and Gini Coefficient
FREE APP - get all of the videos on this channel on your phone. Put myapp.is/Economics%20Diagrams in your phone web browser and follow the instructions. Income Inequality can be measured graphically by a Lorenz Curve or mathematically using the Gini Coefficient. This video explains how both of these work
Views: 271493 Steve Lobsey
Labour Market Equilibrium - Excess Supply and Demand for Labour
This video looks at how the equilibrium wage rate is determined in the labour market. Excess supply and demand is explained to show how the market moves to equilibrium.
Views: 45901 Steve Lobsey
Minutes and Seconds in Latitude and Longitude
This video explains how lines of latitude and longitude are divided into smaller segments of minutes and seconds
Views: 100163 Steve Lobsey
Current and Non-Current Assets
This video describes the difference between current and non-current assets as they appear on a business' Balance Sheet
Views: 16876 Steve Lobsey
Break Even Analysis Graph
This video shows how to do a Break Even Analysis using a graph. You should first know how to do one using an equation, which can be found here https://www.youtube.com/watch?v=jj9JD4LCtYc
Views: 59427 Steve Lobsey
Kinked Demand Curve Oligopoly
This video shows the demand curve for an oligopoly. It explains why it is kinked, with an elastic demand curve at higher prices and an inelastic demand curve at lower prices
Views: 65275 Steve Lobsey
Changes in the Supply of Labour
This video looks at the causes and effects of an increase or a decrease in the supply of labour in the labour market
Views: 6139 Steve Lobsey
Excess Supply and Demand
This video shows how a market arrives at equilibrium. It explains how if the price is not at equilibrium, then excess supply or excess demand will cause the price to move back to equilibrium.
Views: 35845 Steve Lobsey
4 Figure Area References - Geography Skills
This video explains the geography skill of reading a 4 figure area reference
Views: 17116 Steve Lobsey
Opportunity Cost in a Production Possibility Frontier
This video uses a Production Possibility Frontier Diagram (PPF) to explain the concept of Opportunity Cost
Views: 16668 Steve Lobsey
Consumer and Capital Goods in Production Possibility Frontier
This video looks at the effect of an economy's decisions regarding the production of consumer and capital goods on future economic growth, using a production possibility frontier (PPF).
Views: 16737 Steve Lobsey
Tariff diagram
This video uses a supply and demand diagram to show the impact of a tariff on domestic and overseas producers, the government, and consumers. To understand the Business Revenue section watch https://www.youtube.com/watch?v=rYaG-TVBzGk
Views: 6240 Steve Lobsey
Marginal Cost and Marginal Revenue
This video looks at Marginal Cost and Marginal Revenue, and explains how they lead to an equilibrium of quantity supplied. It is setting up these concepts to apply to different types of markets (eg perfect competition, monopoly) in future videos.
Views: 105040 Steve Lobsey
Backward Bending Supply of Labour Curve
This video explains why the supply for labour curve is backward bending
Views: 11463 Steve Lobsey
Comparative Advantage and Gains from Trade
This video looks at how 2 economies can benefit from specialising in the production of a product in which they have a comparative advantage, and then trading with each other. Production Possibility Frontiers for each country are used to show comparative advantage and the benefits to each of specialisation and trade
Views: 72198 Steve Lobsey
BOLTS Elements of a Map
This video explains BOLTS which is the 5 key elements of every map
Views: 7848 Steve Lobsey
Changes in Demand for Labour
This video explains the causes and effects of an increase or decrease in the demand for labour.
Views: 3934 Steve Lobsey
Laffer Curve
THis is a short video explaining the Laffer Curve
Views: 15069 Steve Lobsey
The Gearing Ratio (Debt:Equity Ratio)
This video shows how to describe a business' gearing using information from the balance sheet. Gearing describes the reliance on debt of a business and a high level of gearing can lead to problems with solvency.
Views: 10527 Steve Lobsey
LRAC Economies of Scale in Long Run Average Cost Curve
This video shows how a LRAC curve is made and how it can be used to describe economies and diseconomies of scale.
Views: 6169 Steve Lobsey
Increase and decrease in demand
This video shows the effect of changes in the demand curve on equilibrium price and quantity; and also on Business Revenue. If you are unsure of how equilibrium is found or how business revenue is shown, watch here https://www.youtube.com/watch?v=rYaG-TVBzGk To see increase and decrease in supply, watch here https://www.youtube.com/watch?v=0bSmNZxK0cQ
Views: 14412 Steve Lobsey
6 Figure Grid References - Geography Skills
This video explains how to do a 6 figure grid reference when reading a map. It is an important geography skill
Views: 184714 Steve Lobsey
Current and Non Current Liabilities
This video shows the explains the difference between current and non current liabilities as they appear on a Balance Sheet
Views: 13146 Steve Lobsey
My mind went blank in the exam - How to overcome this
If this is an issue for you, this video can help. Students sometimes get the idea of understanding something confused with knowing it, so they think they are prepared for an exam but when they go to write, cannot recall the information
Views: 16910 Steve Lobsey
Automatic Stabilisers
This video explains the fiscal instruments known as automatic stabilisers (stabilizers if you are in the USA) and uses a diagram of the economic cycle to show their impact.
Views: 7278 Steve Lobsey
Increase and Decrease in Supply
This video shows the effect of an increase in supply or a decrease in supply on equilibrium price and quantity. To see how revenue is calculated watch here https://www.youtube.com/watch?v=rYaG-TVBzGk To see the effect of increases and decreases in demand https://www.youtube.com/watch?v=5JUILbe7UMI
Views: 7291 Steve Lobsey
Keynesian Transmission Mechanism: Monetary Policy
This video uses a 3 part diagram to explain how monetary policy is enacted by the central bank, and the effect on Investment, Aggregate Demand and National Income. It looks at both an expansionary and contractionary policy. The video looks at each of the 3 parts together but then combines them into one diagram
Views: 18413 Steve Lobsey
Exchange Rate Determination
Free app! Access all videos on this channel by putting myapp.is/Economics%20Diagrams into your phone browser and follow the instructions This video looks at how exchange rates are determined through the supply and demand of a currency in the Foreign Exchange (FOREX) market
Views: 46564 Steve Lobsey
Marginal Revenue in Perfect Competition & Monopoly
This video looks at the difference in the Marginal Revenue curve for a business in Perfect Competition vs the MR curve for a monopoly
Views: 18158 Steve Lobsey
Expansionary and Contractionary Fiscal Policy in Aggregate Supply and Demand
This video uses an Aggregate Demand and Aggregate Supply Model to show the effects of expansionary and contractionary Fiscal Policy on National Income. If there is part of this video you find difficult to understand, watch these foundation videos: Aggregate Supply https://www.youtube.com/watch?v=wkBf3DhuTM4 Aggregate Demand and Equilibrium https://www.youtube.com/watch?v=upxJTQk-2QU Changes in Aggregate Demand https://www.youtube.com/watch?v=5mGr8AIp_BY To see Fiscal Policy represented in a different model, watch here https://www.youtube.com/watch?v=0lezJ4IBaGk
Views: 8292 Steve Lobsey
This video uses a supply and demand diagram to explain the effects of a subsidy on domestic production, revenue, and imports.
Views: 4383 Steve Lobsey
PPF. Production Possibility Frontier
This video explains the Production Possibility Frontier (PPF) and relates it to unemployment and economic growth
Views: 4922 Steve Lobsey
Inflexibility in the Labour Market due to a Minimum Wage
This video looks at the impact a minimum wage has on the labour market
Views: 622 Steve Lobsey
HSC Business Studies Operations Summary
This is a summary of the OperationsTopic of Business Studies in the NSW HSC.
Views: 2213 Steve Lobsey
Balance Sheet Introduction A=L+OE
This video explains why Balance Sheets are always in balance using the Accounting Equation (A=L+OE)
Views: 1196 Steve Lobsey
Price Floor
This video explains how a Price Floor works, examples of price floors, and the impact of putting one in place. An example of a price floor is a minimum wage
Views: 622 Steve Lobsey
The International Date Line
This video explains what the International Date Line is.
Views: 70453 Steve Lobsey
Break Even Analysis
This video shows how to do a Break Even Analysis using an equation.
Views: 3412 Steve Lobsey
Bearing - Direction on a map
This video explains how to determine the bearing between 2 locations on a map
Views: 9199 Steve Lobsey
How to make a Study Timetable
This video outlines an easy and effective way to plan your study routine. If you need help preparing for an exam period, watch https://www.youtube.com/watch?v=s2UxBOgm7vU If this type of timetable doesn't work for you, check this video: https://www.youtube.com/watch?v=wXsc0dtbOGk
Views: 73484 Steve Lobsey
MPC and the effect of Consumption on an economy
This video uses an Aggregate Supply/Aggregate Demand Model to examine the effect of consumption on an economy. Specifically it looks at the impact of the level of Autonomous consumption, and the Marginal Propensity to Consume (MPC) and how changes in these will impact the level of National Income or GDP.
Views: 2200 Steve Lobsey
Elasticity. Price Elasticity of Demand and Revenue
This video shows the effect on business revenue when there is a change in the price. The net effect will depend on the price elasticity of demand.
Views: 512 Steve Lobsey
Negative Externalities (Carbon Tax) Diagram
This video uses a diagram to show the effectiveness of a carbon tax in achieving a socially optimal level of pollution.
Views: 4259 Steve Lobsey
The Tropics of Cancer and Capricorn
This video explains the 2 tropics latitude lines. There is an error where I say 25.3 degrees instead of 23.5
Views: 94844 Steve Lobsey
Latitude and Longitude
Check my earlier videos on latitude and longitude. Once you understand those concepts, this video shows how to put them together.
Views: 12651 Steve Lobsey
Compass Directions (NSEW)
This video explains the main compass directions
Views: 32583 Steve Lobsey
Tariff vs Subsidy
This video compares the effect of a tariff and a subsidy as a method of protecting domestic industries.
Views: 6337 Steve Lobsey
Study Skills. Making a Summary
This video shows you how to make summary notes when you are studying. If you find yourself just rewriting your notes instead of summarising them, you will see here a much better way to do it.
Views: 1347 Steve Lobsey
This video is an introduction to longitude.
Views: 1180 Steve Lobsey
The Multiplier Effect
This video shows how you can use an AD/AS diagram to explain the multiplier effect.
Views: 6319 Steve Lobsey