Consumers Always Prefer Indifference Curves That Are ____ the Origin

question 51

Multiple Choice

Consumers always prefer indifference curves that are ____ the origin.

• A) closer to
• B) tangent to
• C) farther from
• D) concave relative to

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Definitions:

Installment Account

A credit account where the borrower repays the principal and interest over a set period through scheduled payments.

Line of Credit

A flexible loan arrangement with a financial institution that allows a borrower to draw funds up to a specified limit, repay, and redraw as needed.

Trade Credit

An arrangement where a buyer is allowed to purchase goods or services and pay the supplier at a later date, often used to finance short-term business needs.

Consumer Credit

Types of personal loans extended to consumers for purchasing goods and services, including credit cards and installment loans.