GENERAL KNOWLEDGE

Detailed explanation-1: -Indifference curves slope downward because, if utility is to remain the same at all points along the curve, a reduction in the quantity of the good on the vertical axis must be counterbalanced by an increase in the quantity of the good on the horizontal axis (or vice versa).

Detailed explanation-2: -As two indifference curves cannot represent the same level of satisfaction, they cannot intersect each other. It means only one indifference curve will pass through a given point on an indifference map. In figure, satisfaction from point A and from B on IC1 will be the same.

Detailed explanation-3: -Indifference curves slope downwards. The only way an individual can increase consumption in one good without gaining utility is to consume another good and generate the same amount of utility. Therefore, the slope is downwards sloping. Indifference curves assume a convex shape.

Detailed explanation-4: -Along the curve, a consumer thus has an equal preference for the various combinations of goods shown. Typically, indifference curves are shown convex to the origin, and no two indifference curves ever intersect.