3 basic videos on Buying and Selling Model

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In these videos, we look at the model, where there is no outside income but the value of endowment defines consumer’s income.

First video, sets the base of the model by distinguishing between gross demand and net demand. Second video, discusses how to draw budget line in this model. Continue reading →

6 concepts related to budget line

In the following videos, we look at some basic concepts related to Budget line. In the first video, we distinguish between budget set and budget line and provide an economic intuition for slope of the budget line.

Then we try to look how budget line shifts if price of one of the commodity changes or if income of the consumer changes or there is a tax or subsidy on any one commodity or there is a rationing of any one product. These applications help us to understand how budget line shifts or rotates in different scenarios. Continue reading →

Shift in budget line when taxes and subsidies are imposed

This video explains the affect of taxes and subsidies on budget line of the consumer. Continue reading →

Shift in budget line when income changes

Suppose if income of the consumer increases, she can experience an expansion of her budget and hence budget line would move outwards in a parallel manner, assuming prices remain constant. Continue reading →