The word isoquant comes from the Greek word iso, which means equal, and the term quant, which means quantity, output, or product. In economics, isoquant is a contour line or graphical curve that is drawn using sets of points that produces the same output quantity. It illustrates all the combined inputs that produce the same amount of output.
This graph is used in microeconomics and it charts all inputs that produce a particular level of the output of the same amount. The term isoquant is also known in the business world as the production indifference curve, the iso-product curve, and the equal product curve.
Anisoquant(derived from quantity and the Greek word iso, meaning equal) is a contour line drawn through the set of points at which the same quantity of output is produced while changing the quantities of two or more inputs.