Economics 101: Indifference Curve | SterlingTerrell.net

Economics 101: Indifference Curve

In economics, indifference curves are a thing.

What are they?

An Indifference Curve is a graph that represents different quantities of goods and services. Along the curve itself are points where a person is indifferent to the quantity received.

For example, one might be indifferent between the following:

  • 2 Ice Creams, and 1 Cheeseburger
  • 5 Ice Creams, and 2 Cheeseburgers
  • 9 Ice Creams, and 3 Cheeseburgers

It a simply boils down to preferences.