An indifference curve is a graphical representation that shows different combinations of two goods, each providing the same level of satisfaction or utility to an individual. Economics: What Is the Indifference Curve , definition, properties, assumptions, application, significance, criticism, analysis, limitation and criticism. Learn how to use indifference curves and budget lines to analyse consumer choice and demand. See examples, diagrams and explanations of income and substitution effects, normal and inferior goods, and Giffen goods.
