Film Series Two: Linear Equations
The economist's perspective in understanding the decisions of consumers is that people bring their preferences to the marketplace and make purchases that will maximise their sense of satisfaction, or utility. However, our choices are constrained by a limited income and by the price we have to pay to make any purchase. This series of films uses linear equations to explore constraints in markets.
These video clips and animations can be viewed in isolation, or you can use our learning pathway and follow links to related material in our Question Bank.
2.01 Linear Functions - Budget Lines
The use of linear functions to examine the spending options for a university student. (Duration 11 minutes 30 seconds).
2.02 Linear Consumption Functions - East and West Germany
Average income between regions in Germany varies greatly. The effects of these differences on expenditure patterns are examined by linear consumption functions. (Duration 9 minutes and 5 seconds).
2.03 Linear Savings Functions - East and West Germany
Savings patterns in East and West Germany are related to income using a linear savings function. (Duration 5 minutes and 12 seconds).
2.04 Summary on Linear Functions
A summary of the significance of linear functions in economics. (Duration 54 seconds).
2.05 Linear Equations in Goods and Labour Markets
A review of linear equations in order to find equilibrium quantities. (Duration 7 minutes 26 seconds).
2.06 Solving Simultaneous Equations - French Wine
The price of French wine can be explained using supply and demand using simultaneous equations. (Duration 7 minutes 6 seconds).
2.07 Linear Equations - Taxes and Subsidies in Wine Markets
The effects on price and output of government subsidies in French and American wine production. (Duration 8 minutes 3 seconds).
2.08 Summary - Solving Linear Equations
Summary - Solving linear equations. (Duration 33 seconds).
2.09 Solving Simultaneous Equations - Labour Markets
Using simultaneous equations to understand the wage rate for workers on ferries between Dover and Calais
2.10 Solving Simultaneous Equations - Trade Unions and Minimum Wages
Using simultaneous equations to understand the effects of trade unions and minimum wage laws on wage rates.
2.11 Simultaneous Equations - Summary
A summary of the use of two simultaneous equations.
2.12 Simultaneous Equations - More Than Two
The decision to purchase a student rail card provides an illustration of the use of more than two linear equations. (Duration 9 minutes 29 seconds).
2.13 Simultaneous Equations - Production and Cost in Swedish Truck Production
Profitability in Swedish forklift truck manufacture is explained using more than two simultaneous equations. (Duration 9 minutes and 27 seconds).
2.14 Simultaneous Equations - Production and Cost in Bulgarian Truck Production
Break-even points in Bulgarian forklift truck manufacture are explained using more than two simultaneous equations. (Duration 5 minutes and 56 seconds).
A summary of how simultaneous equations are used in elementary economics. (Duration 2 minutes 54 seconds).