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Todd didn't want to go with his mother to visit their neighbor Estella;he'd prefer to stay home and play with his kitchen set.But when they walked into Estella's house,Todd immediately saw a box of toy race cars and track.He ran to them and was happy while Estella and his mom talked for an hour.What does Todd's behavior demonstrate?
Indifference Curves
A graphical representation showing combinations of two goods that give a consumer equal satisfaction and utility, reflecting preferences.
Perfect Substitutes
Goods or services that can be used in exactly the same way, such that the consumer is indifferent between one and another.
Perfect Complements
Goods that are consumed together in fixed proportions, where the use of one item increases the value or necessity of the other.
Indifference Curves
Graphical representations in microeconomics showing combinations of two goods among which a consumer is indifferent, indicating equal utility.
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