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QWhich law of economics states that "with given preferences or tastes, the proportion of income spent on food diminishes as income increase"?

ID: #19669 Pakistan Economy 54 views
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#19669Q ID
ModerateDifficulty
Pakistan EconomyTopic
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  • A Common Law ✔ ✖
  • B Engel's Law ✔ ✖
  • C Newton's Law ✔ ✖
  • D None of the above ✔ ✖
Correct Answer: Option B

Explanation

Engel's Law
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