Practice Indifference Map (2.1.2.5) - Theory of Consumer Behaviour

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6 sample questions

Question 1.
What does an indifference curve represent?
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Think of how different combinations give equal satisfaction.
Question 2.
Why do indifference curves slope downwards?
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Consider your trade-offs between two goods.
3Question 3.
What does an indifference curve show?
- Different preferences
- Same level of satisfaction
- Different utility levels
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Consider how satisfaction remains constant across different combinations.
4Question 4.
True or False: Two indifference curves can intersect.
- True
- False
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Reflect on what intersection would imply for consumer choice.
Question 5.
Given an indifference map with curves A, B, and C. Discuss how a shift in consumer income would modify this map.
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Consider how money impacts your shopping choices.
Question 6.
You have two goods, bananas and mangoes. If a consumer moves from curve A to curve B on the indifference map, what does that imply about their preferences?
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Think about what it means to upgrade your choices!

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