Examlex
Group IQ tests are not an adequate source of information about a child's abilities.
Indifference Curves
Indifference curves are graphs showing different combinations of goods between which a consumer is indifferent, suggesting equal levels of utility or satisfaction.
Utility
A measure of satisfaction, pleasure, or usefulness obtained from consuming goods and services.
Indifference Curves
Graphical representations showing combinations of goods or services that provide the same level of satisfaction to a consumer.
Ordinary Goods
In a consumer’s utility function, those for which additional units of one good are required to compensate for fewer units of another, and vice versa; and for which the consumer experiences a diminishing marginal rate of substitution when substituting one good in place of another.
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