Final answer:
An indifference curve is a construct used by economists to show how tastes for an individual change. This statement is False.
Step-by-step explanation:
An indifference curve is a construct used by economists to show how tastes for an individual change. This statement is False.
An indifference curve represents different combinations of goods that provide an equal level of utility or satisfaction for the individual. This means that any point on an indifference curve represents the same level of satisfaction for the person. It does not depict how tastes or preferences change over time.
Indifference curves are used in economics to analyze consumer preferences and choices. They help to understand how individuals make trade-offs between different goods and services based on their level of satisfaction.