Engel Curve

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What is an Engel curve? An Engel curve describes how the expenditure of a household on a particular good or service varies with income. It can also be described as the relationship between the amount of a product that people are willing to buy and their income.
what does the Engel's law state? Engels law states that the poorer a family is, the larger the budget share it spends on nourishment
who is the Engel's curve named after? The engels curve is named after Ernst Engel who was the first to study the relationship between goods expenditure and income

What is an Engel curve?

what does the Engel's law state?

who is the Engel's curve named after?

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