Top 10 similar words or synonyms for indifference

fresh    0.987905

milling    0.984973

chamber    0.984613

heat    0.984609

double    0.984183

voice    0.984001

plastic    0.983378

designs    0.983106

macro    0.983035

worldly    0.983029

Top 30 analogous words or synonyms for indifference

Article Example
ជម្រើសអ្នកប្រើប្រាស់ Economists' modern solution to the problem of mapping consumer choices is indifference curve analysis. For an individual, indifference curves and an assumption of constant prices and a fixed income in a two-good world will give the following diagram. The consumer can choose any point on or below the budget constraint line BC. This line is diagonal since it comes from the equation formula_1.
ជម្រើសអ្នកប្រើប្រាស់ Indifference curve analysis begins with the utility function. The utility function is treated as an index of utility. All that is necessary is that the utility index change as more preferred bundles are consumed. Indifference curves are typically numbered with the number increasing as more preferred bundles are consumed. However, it is not necessary that numbers be used - any indexing system would suffice - colors for example. The advantage of numbers is that their use makes the math simpler. Numbers used to index indifference curves have no cardinal significance. For example if three indifference curves are labeled 1, 4, and 16 respectively that means nothing more than the bundles "on" indifference curve 4 are more preferred than the bundles "on" indifference curve I. The fact that the index number is a multiple of another is of no significance. For example, the bundles of good on 4 does not mean that they are four times more satisfying than those on 1. As noted they merely mean they are more satisfying.
ជម្រើសអ្នកប្រើប្រាស់ The substitution effect is a price change that alters the slope of the budget constraint but leaves the consumer on the same indifference curve. In other words, it illustrates the consumer's new consumption basket after the price change while being compensated as to allow the consumer to be as happy as he or she was previously. By this effect, the consumer is posited to substitute toward the good that becomes comparatively less expensive. In the illustration below this corresponds to an imaginary budget constraint denoted SC being tangent to the indifference curve I1.
ជម្រើសអ្នកប្រើប្រាស់ Depending on the indifference curves, as income increases, the amount purchased of a good can either increase, decrease or stay the same. In the diagram below, good Y is a normal good since the amount purchased increased as the budget constraint shifted from BC1 to the higher income BC2. Good X is an inferior good since the amount bought decreased as the income increases.
ជម្រើសអ្នកប្រើប្រាស់ In other words, the amount spent on both goods together is less than or equal to the income of the consumer. The consumer will choose the indifference curve with the highest utility that is within his budget constraint. Every point on I3 is outside his budget constraint so the best that he can do is the single point on I2 that is tangent to his budget constraint. He will purchase X* of good X and Y* of good Y.