Home > Terms > Macedonian (MK) > законот на Енгел
законот на Енгел
People generally spend a smaller share of their budget on food as their income rises. Ernst Engel, a Russian statistician, first made this observation in 1857. The reason is that food is a necessity, which poor people have to buy. As people get richer they can afford better-quality food, so their food spending may increase, but they can also afford luxuries beyond the budgets of poor people. Hence the share of food in total spending falls as incomes grow
0
0
Improve it
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: Economics
- Company: The Economist
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Industry/Domain: Culture Category: General culture
Тешкото е македонско народно оро, се смета за едно од хајубавите и сигурно најтешките ора. Тешкото е машко оро. Се смета дека самото оро го ...
Contributor
Featured blossaries
Browers Terms By Category
- Yachting(31)
- Ship parts(4)
- Boat rentals(2)
- General sailing(1)
Sailing(38) Terms
- General seafood(50)
- Shellfish(1)
Seafood(51) Terms
- Fiction(910)
- General literature(746)
- Poetry(598)
- Chilldren's literature(212)
- Bestsellers(135)
- Novels(127)
Literature(3109) Terms
- Capacitors(290)
- Resistors(152)
- Switches(102)
- LCD Panels(47)
- Power sources(7)
- Connectors(7)
Electronic components(619) Terms
- Ballroom(285)
- Belly dance(108)
- Cheerleading(101)
- Choreography(79)
- Historical dance(53)
- African-American(50)