By the end of this video, you’ll know how to calculate income elasticity of demand (YED), what those numbers actually mean, and why businesses care about it. What is Income Elasticity of Demand? In simple terms, YED shows how the demand for a product changes when people’s incomes change. When you get a pay rise, you might treat yourself to new trainers, but you’re probably not thinking, “Ooh, I’ll buy more instant noodles!” YED helps businesses understand this behaviour. It asks: do people buy more, less, or the same amount of stuff when their income shifts? ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►A free supporting activity worksheet is available to download on the following link: https://www.twoteachers.co.uk/yedincomeelasticityofdemand ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk #businesseducation #alevel #income

Want to understand what absenteeism is, how to calculate it, and why it matters in business? This short 4-minute explainer video gives you a clear definition, a simple calculation walkthrough, and practical examples showing how absenteeism affects business performance. ► Become a FREE subscriber to Two Teachers: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 Don’t forget to hit subscribe and turn on notifications so you never miss a new business video. ► Download the free student worksheet here: https://www.twoteachers.co.uk/absenteeism #businessmaths #absenteeism #businesscalculations #edexcelbusiness #aqabusiness #tlevelbusiness

Whether it’s creating goods you can hold or delivering services you can experience, it all comes down to one thing: running operations efficiently and effectively. In this video, we’re breaking down the purpose of business operations and how businesses succeed by either producing goods or providing services. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►A free supporting activity worksheet is available to download on the following link: https://www.twoteachers.co.uk/businessoperations ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk #businesseducation #businessoperations #mcdonalds

In this video, we’re diving into five key ways competition affects the market. From lower prices to better quality we will be looking into them all, using McDonald’s as our star example. Plus, we’ll discover what happens when there’s no competition…it’s not great for us. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►A free supporting activity worksheet is available to download on the following link: https://www.twoteachers.co.uk/howcompetitionaffectsthemarket ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk #businesseducation #competition #mcdonalds

Watch this video if you want to know what labour turnover is and why it is used in business. This 4-minute explainer video clearly defines labour turnover, demonstrates the formula, and explains why it’s important for businesses using practical examples. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 Remember to hit subscribe & turn notifications on (bell icon) so you don't miss out on any new videos! ►A free activity resource for students can be downloaded via the following link: (link will be uploaded shortly) #businessmaths #Calculation #Business

Watch this video if you want to know what labour productivity is and why it is used in business. This 4-minute explainer video clearly defines labour productivity, demonstrates the formula, and explains why it’s important for businesses using practical examples. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 Remember to hit subscribe & turn notifications on (bell icon) so you don't miss out on any new videos! ►A free activity resource for students can be downloaded via the following link: https://www.twoteachers.co.uk/labourproductivity #Labour #Calculation #Business

Master the art of stakeholder mapping in just minutes! Learn how to identify, analyse, and engage stakeholders effectively using a simple 4-step process. Perfect for business projects, events, and more. 🚀 ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►A free supporting activity worksheet is available to download on the following link: https://www.twoteachers.co.uk/stakeholdermapping ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk #businesseducation #StakeholderMapping #BusinessTips