Engel curves, Microeconomics

Engel Curves

-Engel curves relate quantity of good consumed to income.

-If good is a normal good, Engel curve is sloping upward.

-If good is an inferior good, the Engel curve is sloping downward.

1477_engel curves.png

1586_engel curves1.png

Posted Date: 10/10/2012 7:13:09 AM | Location : United States

Related Discussions:- Engel curves, Assignment Help, Ask Question on Engel curves, Get Answer, Expert's Help, Engel curves Discussions

Write discussion on Engel curves
Your posts are moderated
Related Questions
using ? tools of economic highlight on comsumption

Should the manufacture, supply and use of tobacco be criminalised? Provide arguments for and/or against (relates to defining crime; concepts of deviance etc) Examine t

Which of the following is evidence of market power? a. Output is fixed despite cost changes b. Optimal Output is less than industry output c. Output changes as cost changes

Price System: Demand is the quantity of a commodity that consumers are willing and are able to buy at a given price at a given time period when all other things remain the sam

Unemployment: Unemployment refers to a situation where people who are willing and able to work do not find jobs at the existing wage rate.For a person to be referred to as une

explain normal profits

Employment The calculations of human input in the production procedure. In the United States, there are two major measures of employment, as determined by the Bureau of Labor

SHORT PERIOD ANALYSIS: Short period in production refers to a time when some inputs remain fixed. A fixed input is one, whose quantity cannot be changed readily, whereas, a va

International Comparisons Method In the 1960s, a few developing countries of the world looked around the developed world in search of models of development. For instance, Sout

Theories and Models ?? Microeconomic Analysis             – Theories are taken in use to describe the observed phenomena in terms of a set of essential  rules and