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Updated live from Wikipedia, last check: May 22, 2013 14:17 UTC (36 seconds ago)

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In microeconomic theory a preference map or indifference map is the collection of indifference curves possessed by an individual. Similar in nature to a topographical map, the contour lines of such a map demonstrating progressively more desirable options as they move upward or to the right. Because of the nature of indifference curves they cannot intersect and are effectively infinite in number, their sum defining all possible combinations of values.

An individual will choose to consume goods at the point where their budget constraint is tangent to an indifference curve their preference map. Because of the nature of the preference map, there is only one possible curve and one possible consumption point on any given combination of preference map and budget constraint. It is by accumulating these consumption points that a demand curve can be generated.








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