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Indifference Curves
A graphical representation of different combinations of two goods or services that give a consumer equal satisfaction and utility.
Downsloping
Describing a curve or trend that decreases in value as it moves rightward on a graph, typically referring to demand curves where price and quantity demanded are inversely related.
Consumer Equilibrium
The state where an individual allocates their income in a way that maximizes their utility, given the prices of goods and services.
Indifference Curves
Graphical representations in economics that show different bundles of goods between which a consumer is indifferent, meaning the consumer has no preference for one bundle over another.
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