
Understanding Indifference Curves
Authored by Dereje Abebe
Others
9th - 12th Grade

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an indifference curve?
An indifference curve is a graph that shows combinations of two goods that yield the same level of utility for a consumer.
A graph showing the relationship between price and demand for a single good.
A curve that represents the total cost of production for two goods.
A line that indicates the maximum quantity of one good that can be produced given a fixed quantity of another good.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does an indifference curve represent consumer preferences?
An indifference curve indicates the quantity of goods a consumer must buy.
An indifference curve represents the price of goods in the market.
An indifference curve shows the total utility of a consumer.
An indifference curve shows combinations of goods that yield equal satisfaction to the consumer.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean if two indifference curves intersect?
It shows that consumer preferences are consistent.
It implies that both goods provide the same level of satisfaction.
It indicates a preference for one good over another.
It indicates a contradiction in consumer preferences.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the shape of a typical indifference curve and why?
Linear with a positive slope.
Concave to the origin.
Circular in shape.
Convex to the origin.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do changes in income affect the position of indifference curves?
Changes in income shift indifference curves outward with increased income and inward with decreased income.
Higher income leads to a parallel shift of indifference curves without changing their position.
Indifference curves become steeper with increased income.
Changes in income have no effect on indifference curves.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the marginal rate of substitution (MRS)?
The MRS is the total utility derived from all goods combined.
The MRS measures the total cost of producing one good over another.
The marginal rate of substitution (MRS) is the rate at which a consumer is willing to substitute one good for another.
The MRS is the fixed ratio at which goods are produced in an economy.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can indifference curves be used to analyze consumer choice?
Indifference curves show the total utility of goods consumed.
Indifference curves help analyze consumer choice by illustrating preferences and trade-offs between goods.
Indifference curves determine the quantity of goods produced in an economy.
Indifference curves are used to calculate the exact price of goods.
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