Indifference curves and budget lines

Claire F. ★ 5.0 (2)

Aberystwyth University - BSc Economics

Economics A Level examiner. Experienced Economics and Maths teacher & Head of Economics department.

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Indifference curves

This video will teach you to diagram indifference curves and explain what they demonstrate.

Budget lines

This video will teach you how to diagram a budget line and explain what it demonstrates.

Budget lines and indifference curves

This video discuss how a rational consumer maximises utility facing a budget constraint and how budget lines and indifference curves can be used to demonstrate utility maximisation.

Indifference curve analysis: income and substitution effects for normal goods

This video explains how to analyse the income and substitution effects of a change in the price of a normal good.

Indifference curve analysis: income and substitution effects for inferior goods

This video explains how to analyse the income and substitution effects of a change in the price of an inferior good.