How do you determine whether a business idea is financially feasible? You need to evaluate the economic viability of your business idea by considering your start-up cost, cash flow and operational expenses.

What should be included in the Financial Projections portion of the business plan? The financial section of your business plan should include a sales forecast, expenses budget, cash flow statement, balance sheet, and a profit and loss...

What is the relationship between core general purpose technologies (e.g. steam engine, electricity, computers) and the sectors to...

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

This is a great activity to simulate the labor market and show how a business decides how many workers to hire. Watch the video and see if you can figure out the following: 1. How many workers should be hired to maximize profit? 2. What...

Here is a practice FRQ from the 2005 AP Micro exam. Try it on your own and then go over the answers.

My 60 second explanation of the difference between lump sum and per unit subsidies. Remember, lump sum affects only fixed costs so MC won't shift. A per unit subsidy will affect MC and therefore output.

Join the hundreds of thousands of students that have used Mr. Clifford's videos and resources to ace your microeconomics course.

My 60 second explanation of the shut down rule. When the price falls below AVC a firm should shut down and produce nothing. It is better for them to take their fixed costs as a loss then to continue to produce.

This video explains how businesses can maintain their competitiveness with other firms in the market on a day-to-day basis by improving their operational performance. The video focuses on three types of operational data that businesses...

In this video I explain how to draw and analyze the cost curves. Most teacher sad professors focus on the per unit cost curves. That included marginal cost, average total cost, average variable costs, and the average fixed cost. Each...

Aasim Waheed has spent 23 years in oil and gas process automation. He started off as an electrical and controls engineer, moved into HCI design, commissioning, project management and finally into business management. He has been...

In this video, the speaker explains the concept of cost curves and their importance in understanding the cost structure of a business. They begin by discussing how total cost can be divided into fixed and variable costs, and then move on...

Here is a practice FRQ from the 2005 AP Micro exam. Try it on your own and then go over the answers. Good luck.

Unit cost is an important metric for manufacturing firms to judge efficiency, profitability, and pricing

This video explains the concept of break-even point in business. The video discusses how to calculate break-even point and the formula to use. The video also provides an example calculation of break-even point and how to calculate profit...

Cost structuringis a key assumption when conducting a Cost Volume Profit Analysis. This video explains the relevance of this assumption.

In this video I explain how to identify the profit maximizing quantity and calculate total revenue and profit. MR=MC is the most important concept in microeconomics.

Cost behavior generally concerns how costs are affected by changes in output. The relevant range is the range of production over which cost behavior is consistent.

Target Profit Analysis is a key assumption when conducting a Cost Volume Profit Analysis. This video explains the relevance of this assumption.

A sensitivity analysis as part of the cost volume profit analysis shows how profits vary with changes in cost or volume.

This video explains the concept of cost volume profit (CVP) analysis and the relationships between various metrics used in this analysis. The video delves into key metrics such as contribution margin, net income, variable expense ratio,...

Break even analysis is a key assumption when conducting a Cost Volume Profit Analysis. This video explains the relevance of this assumption.

Will driverless cars, capable of delivering everything from dry cleaning to groceries, upend the market for consumer goods? A pioneer in the industry will discuss his new autonomous vehicle.