Student videos | Reference library | tutor2u Economics

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In this core topic video I guide students through the key elements of the PPF - production possibility frontier.

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Production Possibility Frontier

In this short revision video we go through the law of diminishing returns and explain the link between declining marginal productivity and rising short run marginal and average variable cost.

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Law of Diminishing Returns, Marginal Cost and Average Variable Cost

This short revision video takes students through the difference between a cyclical budget deficit and a structural budget deficit.

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Cyclical and Structural Budget Deficits

Students can test understanding of three questions covering supply and demand analysis using this short revision video.

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Market Prices in Action (MCQ Revision Question)

Examiners are keen that you understand the concept of opportunity cost in relation to the PPF. This short revision video looks at a PPF with diminishing returns (increasing marginal opportunity...

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PPF and Opportunity Cost

This question tests understanding of the likely effect on the external value of a currency inside a floating exchange rate when a nation experience low relative inflation.

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Floating Exchange Rates (MCQ Revision Question)

This question looks at the effects of an outward shift of aggregate demand using the Keynesian aggregate supply curve model.

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Keynesian Aggregate Supply (MCQ Revision Question)

This exam question tests student understanding of the effects of a rise in the marginal propensity to save on the marginal propensity to consumer and also the numerical value of...

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Saving and the Multiplier (MCQ Revision Question)

Here is a question asking when automatic stabilisers in the macroeconomy will be more effective.

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Automatic Stabilisers (MCQ Revision Question)

This short revision video looks at the main causes of shifts in short run aggregate supply and the effect on national output and the price level.

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Shifts in Aggregate Supply

This revision video looks at some of the main causes of shifts in aggregate demand and the effect of this on equilibrium real GDP using AD-AS diagrams.

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Shifts in Aggregate Demand

When the coefficient of price elasticity of demand is greater than one, then demand is said to be price elastic. One of the implications of this is that cutting prices...

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Elastic Demand - Prices and Producer Revenue

This short revision clip cements student understanding of the importance of price elasticity of demand for the total revenue of a supplier when the market price changes. When the coefficient...

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Inelastic Demand - Prices and Producer Revenue

This short revision video takes students through the basics of producer surplus and looks at how producer surplus is affected by a fall in supply costs and also an outward...

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Understanding Producer Surplus

A short revision video for students wanting to cement their understanding of consumer surplus. Consumer surplus is a measure of the economic welfare that people gain from consuming goods and...

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Understanding Consumer Surplus
Student videos

What is Systemic Risk?

Systemic risk became a key concept during the Global Financial Crisis (GFC). Systemic risk is the possibility that an event at the micro level of an individual bank / insurance company...

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What is Systemic Risk?

This revision video takes students through a worked example of comparative advantage and the potential gains from specialisation and trade at a mutually beneficial terms of trade between two countries.

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Comparative Advantage and Gains from Trade

Here is a short video covering two short questions. What is collusion? Using game theory, explain the potential benefits from collusion between firms.

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Collusion and Game Theory (Short Answers)

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