do you think that engel law of consumption is applicable in Indian context?
Answers
Answer:
1. BY COMPARING GDP vs CONSUMPTION FROM 1990 TO 2007 By, T. SAIRAM SINGH K.ROOPANJALI A.SANDEEP G.SANTOSH G.SRIKANTH K.MICHAEL JACKSON
2. Born March 26, 1821 Dresden Died December 8, 1896 (aged 75) Serkowitz (now part of Radebeul) Nationality German Fields Known for Statistician and economist Engel curve and the Engel's law INTRODUCTION
3. EngEl’s law: • An economic theory introduced in 1857 by Ernst Engel (German statistician). • It states that the percentage of income allocated for food purchases decreases as income rises. As a household‟s income increases, The percentage of income spent on food decreases while the proportion spent on other goods(such as luxury goods) increases
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Answer:
1. BY COMPARING GDP vs CONSUMPTION FROM 1990 TO 2007 By, T. SAIRAM SINGH K.ROOPANJALI A.SANDEEP G.SANTOSH G.SRIKANTH K.MICHAEL JACKSON
2. Born March 26, 1821 Dresden Died December 8, 1896 (aged 75) Serkowitz (now part of Radebeul) Nationality German Fields Known for Statistician and economist Engel curve and the Engel's law INTRODUCTION
3. EngEl’s law: • An economic theory introduced in 1857 by Ernst Engel (German statistician). • It states that the percentage of income allocated for food purchases decreases as income rises. As a household‟s income increases, The percentage of income spent on food decreases while the proportion spent on other goods(such as luxury goods) increases
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