Engel observed that the percentage of income spent on household operations and clothing remains constant even when the household income increases.

Name: Engel observed that the percentage of income spent on household operations and clothing remains constant even when the household income increases.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

Engel's law states that the percentage of income spent on food decreases as income increases, while the percentage spent on other items, such as household operations and clothing, remains constant.

Engel Observed That the Percentage of Income Spent on Household