#engel's_law
Engel's law
Empirical observation in economics that as income rises, less is spent on food
Engel's law is an economic relationship proposed by the statistician Ernst Engel in 1857. It suggests that as family income increases, the percentage spent on food decreases, even though the total amount of food expenditure increases. Expenditure on housing and clothing remains proportionally the same, and that spent on education, health and recreation rises.
Wed 4th
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