An indifference schedule is a statement of different combinations of two commodities which will uniformly accepted by the consumer. The different combinations provide equal satisfaction to the consumer. Thus he is indifferent among different combinations.
Let suppose that the consumer purchases two commodities – bananas and biscuits. Then the indifference schedule is as shown below:
Table: Indifference Schedule
From above schedule it can be understood that as the number of biscuits is rising, the number of bananas is diminishing, therefore the level of satisfaction is similar for all combinations. Thus the consumer is indifferent among the combinations A, B, C, D & E.
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