Engel's Law

Engel's Law definition - business

Engel's Law

Observation by German statistician Ernst Engel that expenditures on food consume a smaller proportion of rising incomes. Poorer families spend a larger proportion of income on food than do wealthier families.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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