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Q. |
Whch of the following curve describes the variation of household expenditure on a particular good with respect to household income? |
A. | Demand curve |
B. | Engel curve |
C. | Great Cats by curve |
D. | Cost curve |
Answer» B. Engel curve | |
Explanation: In microeconomics, an Engel curve describes how household expenditure on a particular good or service varies with household income. The curve is 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. |
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