Skip to main content

Economics online classes and notes-Properties of Indifference Curve


Economics online classes and notes-Properties of Indifference Curve

We are also bringing to you some theoretical knowledge in the form of these blogs and write ups. One of the blog carries detailed information about ‘Properties of Indifference Curve’.
PROPERTIES OF INDIFFERENCE CURVE
An indifference curve may be defined as a schedule which represents all those bundles of goods that give the equal level of satisfaction to the consumer and he is indifferent to all these bundles of goods.

    1. An Indifference Curve Slopes Downwards From Left To Right:
    An indifference curve slope, always from left to right, which means it is negatively sloped.
    This is because of a simple reason that in case the consumer is willing to have more units of one good, he will have to reduce the consumption of another good, if his level of satisfaction remains unchanged. In other words, an indifference curve sloped downwards due to monotonic preferences of the consumer.

    1. An Indifference Curve Is Convex To The Origin:
    The indifference curve is convex to its origin because of the diminishing Marginal Rate Of Susbstitution. Marginal rate of substitution of good 1 for good 2 is the number of units of good 2 that the consumer is willing to give up for an additional unit of good 1, so as to maintain the same level of satisfaction.
  2. Read more ...............> Economics online classes and notes-Properties of Indifference Curve
  3. To learn more about Properties of Indifference Curve, enroll in Economics online classes with Takshila Learning. Click here for free online classes and demos of school courses, professional courses, and for the preparation of competitive exams.
    Or call us : 8800999280/8800999284/011-45639131
Labels:

Comments

Post a Comment

Thank you we will contact ASAP.

Popular posts from this blog

Why is Hindi Day celebrated on 14 September?

Why is Hindi Day celebrated on 14 September? After independence, the Government of India set a goal to give an ideal form to the mother tongue of the country and set a target for grammar and orthography using the Devanagari script to bring standardization in writing. Subsequently, on September 14, 1949, the Constituent Assembly decided by a vote that Hindi would be the official language of India. To propagate the importance of this decision and to spread Hindi in every region, India is celebrating Hindi Day every year from 1953 to 14 September, at the request of Rashtrabhasha Prachar Samiti, Wardha. Apart from this, 14 September is also the birthday of Rajendra Singh, who worked tirelessly to make Hindi the official language of India. Hindi Day is observed every year on 14 September to mark the importance of the Hindi language in the country. The Hindi language is one of the oldest languages, which derives most of its academic vocabulary from the Sanskrit language written in the Deva
Post a Comment
Read more

Magnetic and non-magnetic material Class 6 Science

Magnetic and non-magnetic material  Class 6 Science A magnet is a substance that is drawn to certain magnetic materials like iron, cobalt, and nickel. Magnets have the ability to draw iron to them. Natural magnets are rocks that naturally draw iron. Non-magnetic materials include things like wood, rubber, coins, feathers, leather, etc. that are not drawn to iron. Magnet characteristics It pulls magnetic materials, such as iron. The magnet's two ends are referred to as its poles. The magnet's diametrically opposed poles are drawn together. Heating, hammering, or dropping causes it to lose its characteristics. On the basis of properties types of Magnets Temporary magnets are those magnets that are magnetic for only a little duration. Typically, iron, cobalt, or nickel are used to make them. When they are close to the powerful magnet, they act like a magnet. When they are yanked away from the powerful magnet, they stop being magnetic. Permanent magnets are magnets that have magne
Post a Comment
Read more