What best describes what happens to the share of income spent on food as income increases?

Question

Quizplus · Accepted Answer

As income increases, the proportion of income spent on food typically decreases. This is known as Engel's Law, which states that as income rises, the percentage of income spent on food falls, even if absolute expenditure on food rises. This is because people tend to diversify their spending into other areas as they have more disposable income.

What Best Describes What Happens to the Share of Income