GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
1.demand curve
|
|
|
2.indefference curve
|
|
|
3.supply curve
|
|
|
4.none of the above
|
Detailed explanation-1: -Indifference curves represent all combinations of market baskets that provide the same level of satisfaction to a person.
Detailed explanation-2: -A graph showing a combination of two goods that give a consumer equal utility and satisfaction is known as an indifference curve.
Detailed explanation-3: -An indifference curve shows the various combinations of two goods that give the consumer equal utility or satisfaction. A higher indifference curve refers to a higher level of satisfaction, and a lower indifference curve refers to less satisfaction.
Detailed explanation-4: -Indifference Curve-Key takeaways The indifference curve is a curve that represents all combinations of market baskets that provide a consumer with the same level of utility.