Which of the Following Is Not a Property of Indifference

question 8

Multiple Choice

Which of the following is not a property of indifference curves?
(i) indifference curves do not cross
(ii) indifference curves are bowed inward toward the origin
(iii) lower indifference curves are preferable to higher indifference curves

• A)(i) only
• B)(i) and (ii)
• C)(i) and (iii)
• D)(ii) and (iii)

Grasp the principles of excess supply (surplus) and excess demand (shortage) and how they lead to adjustments in market prices.

Recognize the role of production costs and factor inputs on the supply side of the market.

Interpret market scenarios to determine the directional change in equilibrium price and quantity given shifts in supply and demand.

Distinguish between the short-term and long-term impacts of market changes on price and quantity.

---

Definitions:

Thomas and Chess

Psychologists known for their research in child development, particularly in temperament studies.

Social and Cultural Interactions

Exchanges between individuals or groups that are influenced by and contribute to the norms, values, and practices of a society or culture.

Vygotsky

A developmental psychologist known for his theory on social development and the concept of the Zone of Proximal Development, which emphasizes the role of social interaction in cognitive development.

Cognitive Development

The process of growth and change in intellectual/mental abilities such as thinking, reasoning, and understanding throughout the lifespan.