{"id":84877,"date":"2025-06-01T02:54:05","date_gmt":"2025-06-01T02:54:05","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=84877"},"modified":"2025-06-01T02:54:05","modified_gmt":"2025-06-01T02:54:05","slug":"consider-the-following-statements-about-indifference-curves-1-ind","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/","title":{"rendered":"Consider the following statements about indifference curves :\n  1. Ind"},"content":{"rendered":"<p>Consider the following statements about indifference curves :<\/p>\n<ul>\n<li>1. Indifference curves are convex to the origin.<\/li>\n<li>2. Higher indifference curve represents higher level of satisfaction.<\/li>\n<li>3. Two indifference curves cut each other.<\/li>\n<\/ul>\n<p>Which of the statements given above is\/are correct?<\/p>\n<p>[amp_mcq option1=&#8221;1 only&#8221; option2=&#8221;1 and 2 only&#8221; option3=&#8221;2 and 3 only&#8221; option4=&#8221;3 only&#8221; correct=&#8221;option2&#8243;]<\/p>\n<div class=\"psc-box-pyq-exam-year-detail\">\n<div class=\"pyq-exam\">\n<div class=\"psc-heading\">This question was previously asked in<\/div>\n<div class=\"psc-title line-ellipsis\">UPSC CDS-1 &#8211; 2019<\/div>\n<\/div>\n<div class=\"pyq-exam-psc-buttons\"><a href=\"\/pyq\/pyq-upsc-cds-1-2019.pdf\" target=\"_blank\" class=\"psc-pdf-button\" rel=\"noopener\">Download PDF<\/a><a href=\"\/pyq-upsc-cds-1-2019\" target=\"_blank\" class=\"psc-attempt-button\" rel=\"noopener\">Attempt Online<\/a><\/div>\n<\/div>\n<section id=\"pyq-correct-answer\">\nStatements 1 and 2 are correct. Statement 3 is incorrect. Therefore, option B is the correct answer.<br \/>\n<\/section>\n<section id=\"pyq-key-points\">\nIndifference curves are graphical representations of consumer preferences, showing combinations of two goods that yield the same level of satisfaction or utility. Key properties include: they are convex to the origin (due to diminishing marginal rate of substitution), higher curves represent higher satisfaction levels, and they do not intersect each other.<br \/>\n<\/section>\n<section id=\"pyq-additional-information\">\nThe diminishing marginal rate of substitution (MRS) means that as a consumer consumes more of one good and less of another while staying on the same indifference curve, the amount of the second good they are willing to give up for an additional unit of the first good decreases. If two indifference curves intersected, it would imply that a point on one curve and a point on another curve represent the same level of utility (the intersection point), while other points on the higher curve clearly represent a higher level of utility than points on the lower curve, leading to a contradiction and violating the assumption of transitivity in consumer preferences.<br \/>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Consider the following statements about indifference curves : 1. Indifference curves are convex to the origin. 2. Higher indifference curve represents higher level of satisfaction. 3. Two indifference curves cut each other. Which of the statements given above is\/are correct? [amp_mcq option1=&#8221;1 only&#8221; option2=&#8221;1 and 2 only&#8221; option3=&#8221;2 and 3 only&#8221; option4=&#8221;3 only&#8221; correct=&#8221;option2&#8243;] This &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Consider the following statements about indifference curves :\n  1. Ind\" class=\"read-more button\" href=\"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/#more-84877\">Detailed Solution<span class=\"screen-reader-text\">Consider the following statements about indifference curves :<br \/>\n  1. Ind<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1087],"tags":[1119,1112],"class_list":["post-84877","post","type-post","status-publish","format-standard","hentry","category-upsc-cds-1","tag-1119","tag-economic-and-social-development","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Consider the following statements about indifference curves :  1. Ind<\/title>\n<meta name=\"description\" content=\"Statements 1 and 2 are correct. Statement 3 is incorrect. Therefore, option B is the correct answer. Indifference curves are graphical representations of consumer preferences, showing combinations of two goods that yield the same level of satisfaction or utility. Key properties include: they are convex to the origin (due to diminishing marginal rate of substitution), higher curves represent higher satisfaction levels, and they do not intersect each other.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consider the following statements about indifference curves :  1. Ind\" \/>\n<meta property=\"og:description\" content=\"Statements 1 and 2 are correct. Statement 3 is incorrect. Therefore, option B is the correct answer. Indifference curves are graphical representations of consumer preferences, showing combinations of two goods that yield the same level of satisfaction or utility. Key properties include: they are convex to the origin (due to diminishing marginal rate of substitution), higher curves represent higher satisfaction levels, and they do not intersect each other.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T02:54:05+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Consider the following statements about indifference curves :  1. Ind","description":"Statements 1 and 2 are correct. Statement 3 is incorrect. Therefore, option B is the correct answer. Indifference curves are graphical representations of consumer preferences, showing combinations of two goods that yield the same level of satisfaction or utility. Key properties include: they are convex to the origin (due to diminishing marginal rate of substitution), higher curves represent higher satisfaction levels, and they do not intersect each other.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/","og_locale":"en_US","og_type":"article","og_title":"Consider the following statements about indifference curves :  1. Ind","og_description":"Statements 1 and 2 are correct. Statement 3 is incorrect. Therefore, option B is the correct answer. Indifference curves are graphical representations of consumer preferences, showing combinations of two goods that yield the same level of satisfaction or utility. Key properties include: they are convex to the origin (due to diminishing marginal rate of substitution), higher curves represent higher satisfaction levels, and they do not intersect each other.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2025-06-01T02:54:05+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/","url":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/","name":"Consider the following statements about indifference curves : 1. Ind","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2025-06-01T02:54:05+00:00","dateModified":"2025-06-01T02:54:05+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"description":"Statements 1 and 2 are correct. Statement 3 is incorrect. Therefore, option B is the correct answer. Indifference curves are graphical representations of consumer preferences, showing combinations of two goods that yield the same level of satisfaction or utility. Key properties include: they are convex to the origin (due to diminishing marginal rate of substitution), higher curves represent higher satisfaction levels, and they do not intersect each other.","breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-about-indifference-curves-1-ind\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"UPSC CDS-1","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/upsc-cds-1\/"},{"@type":"ListItem","position":3,"name":"Consider the following statements about indifference curves : 1. Ind"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/84877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=84877"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/84877\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=84877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=84877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=84877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}