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Question
What does IC stand for in Economics?
What does IC stand for in Economics?
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Solution
IC stands for Indifference Curve in economics. An indifference curve shows the combination of two goods that provides customers with equal utility and satisfaction and thereby makes the customer indifferent.
Also read:
- Deriving a Demand Curve From Indifference Curves and Budget Constraints
- Consumer Equilibrium Indifference Curve Approach
- MCQ on Indifference Curve
- Features of Indifference Curve
Learn about more questions and answers on business studies and various other commerce topics from our website.
IC stands for Indifference Curve in economics. An indifference curve shows the combination of two goods that provides customers with equal utility and satisfaction and thereby makes the customer indifferent.
Also read:
- Deriving a Demand Curve From Indifference Curves and Budget Constraints
- Consumer Equilibrium Indifference Curve Approach
- MCQ on Indifference Curve
- Features of Indifference Curve
Learn about more questions and answers on business studies and various other commerce topics from our website.
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