Preferences are characterized generally by:
A) budget constraints.
B) consumption bundles.
C) indifference curves.
D) income.

Question

Quizplus · Accepted Answer

Preferences are characterized by indifference curves that show the combinations of two goods that give a consumer the same level of satisfaction or utility. Budget constraints and income are related to the ability to purchase goods, while consumption bundles are the specific combinations of goods that a consumer chooses to purchase.

Preferences Are Characterized Generally By