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Master Principles of Economics – Notes, Case Studies & Practical Insights – with Rahul

Indifference Map

The set of IC representing the different levels of satisfaction obtainable from different schedules of indifference is called an Indifference Map. It is a geometrical expression of a number of indifference schedules on the assumption that the commodities constituting the combinations of each schedule are finitely divisible. We can build up higher and higher schedules –curves by doubling, making triple the cups and biscuits, similarly, making half, one-third, etc

What is Indifference Map? definition and meaning - Business Jargons

In the figure above, R1, R2, and R3 represent points of the same IC- the same level of satisfaction-consumer indifferent and P and Q-points of higher ICs – a higher level of satisfaction-preferred combinations.

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