Indifference curves illustrate a consumer's preferences.
An indifference curve is a graph that displays possible pairings of two goods or commodities that, when purchased in whatever combination, leave the buyer equally well off or satisfied—thus leaving them indifferent.
Economists use an indifference curve to describe the compromises people make when they are presented with two products they want to purchase. People are limited by their ability to spend money, so they cannot buy everything. A cost-benefit analysis must be taken into account instead. Indifference curves provide a visual representation of this trade-off by displaying the quantities of two different items that give a consumer the same utility.
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