An indifference curve is a graph that shows different combinations of two goods that provide equal utility to a consumer. Learn about the history, properties, and applications of indifference curves in economics. 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. Economics: What Is the Indifference Curve , definition, properties, assumptions, application, significance, criticism, analysis, limitation and criticism. Learn how to measure utility ordinally using indifference curves, which show the combinations of two goods that give equal satisfaction to the consumer. Find out the assumptions of indifference curve analysis and see examples and diagrams.
