Briefly describe the term indefference curve

Answer 1

An indifference curve represents all the different combinations of two goods or services that provide an equal level of satisfaction or utility to a consumer. In other words, any point along the indifference curve represents a combination of goods that a consumer is equally willing to consume. This concept is central to consumer theory in microeconomics. Indifference curves slope downwards from left to right, showing that as the quantity of one good consumed increases, the quantity of the other good consumed must decrease in order to maintain the same level of satisfaction.