Ernst Engel

Ernst Engel and Engel’s Law of Microeconomics

Ernst Engel and Engel’s Law of Microeconomics

On March 26, 1821, German statistician Ernst Engel was born. Engel was head of the Prussian Statistical Bureau (1860-82) and is best known for the “Engel curve,” or Engel‘s law, which states that the proportion of expenditure on food will fall as income rises, i.e. food is a necessary good. Ernst Engel studied at the Freiberg University of Mining and Technology, in Saxony, and on completing his curriculum traveled in Germany and…
Read more
Relation Browser
Timeline
0 Recommended Articles:
0 Recommended Articles: