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In this programme F S Brooman, Professor of Economics at the Open University explains the use of graphs, and then uses graphic methods to show the general relationship between the demand for a go...od and its price. This is the demand curve. He goes on to show that this curve can he of many different shapes for different goods. But Price is not the only determinant of Demand. Professor Brooman explains what the others are and how changes in them can produce changes in the shape and position of the demand curve.
Metadata describing this Open University video programme
Module code and title: D100, Understanding society: a foundation course
Item code: D100; 10
First transmission date: 14-03-1971
Published: 1971
Rights Statement:
Restrictions on use:
Duration: 00:14:40
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Producer: Peter Ramsden
Contributor: F S Brooman
Publisher: BBC Open University
Keyword(s): Economics
Footage description: F.S. Brooman discusses the reasons for the theoretical approach of the economist and economic problems. Brooman takes up "supply and demand" with the aid of a graph where a demand curve is plotted. The curve shows that as price rises demand drops. Demand can be predicted. Brooman discusses factors other than price that affect demand. Taste of consumer, increase in income etc. Concept of demand function introduced. Brooman examines a specific case of a large increase in consumer income. The effect of this on the original demand curve is shown and discussed. Brooman shows the effect of a drop on consumer income on the demand curve. Brooman discusses briefly the effect which supply has on the price.
Master spool number: 6LT/70157
Production number: 00520_1210
Videofinder number: 420
Available to public: no