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What is Engel’s Curve?
- a)Curve showing three demand curve
- b)Named after Ernst Engel
- c)Both (a) and (b)
- d)None
Correct answer is option 'C'. Can you explain this answer?
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What is Engel’s Curve?a)Curve showing three demand curveb)Named ...
Engel curve describes how household expenditure on a particular good or service varies with household income. There are two varieties of Engel curves. Budget share Engel curves describe how the proportion of household income spent on a good varies with income .
Engel curve describes how household expenditure on a particular good or service varies with household income.There are two varieties of Engel curves. Budget share Engel curves describe how the proportion of household income spent on a good varies with income. Alternatively, Engel curves can also describe how real expenditure varies with household income. They are named after the German statistician Ernst Engel (1821–1896), who was the first to investigate this relationship between goods expenditure and income systematically in 1857. The best-known single result from the article is Engel's law which states that the poorer a family is, the larger the budget share it spends on nourishment.
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What is Engel’s Curve?a)Curve showing three demand curveb)Named ...
Engel curve
a curve which indicates how an individual’s income is spent
a curve which indicates how an individual’s income is spent
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What is Engel’s Curve?a)Curve showing three demand curveb)Named ...
Engel is a German surname and given name. It is derived from the Middle High German word "engel," which means "angel." In Germanic mythology and Christianity, angels are considered divine spiritual beings. The name Engel can also be found in various cultures as a variant or anglicized form of the name Angel.
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What is Engel’s Curve?a)Curve showing three demand curveb)Named after Ernst Engelc)Both(a) and (b)d)NoneCorrect answer is option 'C'. Can you explain this answer?
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What is Engel’s Curve?a)Curve showing three demand curveb)Named after Ernst Engelc)Both(a) and (b)d)NoneCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about What is Engel’s Curve?a)Curve showing three demand curveb)Named after Ernst Engelc)Both(a) and (b)d)NoneCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is Engel’s Curve?a)Curve showing three demand curveb)Named after Ernst Engelc)Both(a) and (b)d)NoneCorrect answer is option 'C'. Can you explain this answer?.
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