Preferences and Affordability
Preferences and Affordability
An indifference curve joins combinations of two goods that give a consumer the same total satisfaction. The consumer is indifferent between any two bundles on one curve. On a standard indifference map, I1I_1I1 is the innermost curve, I2I_2I2 is the middle curve, and I3I_3I3 is the outermost curve.
Step-by-step lessons on CIE Intl A Level Economics 7.2.1 meaning of an indifference curve and a budget line. Each one builds up to exam-style questions.