Economics · Consumer Behaviour
Which economic law states that, given constant tastes and preferences, as income increases, the proportion of income spent on food decreases?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Say's Law
- 2Giffen's Paradox
- 3Gresham's Law
- 4Engel's Law✓
Correct answer
Engel's Law
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