Engel Curve (Normal and Inferior Goods)
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Engel Curve (Normal and Inferior Goods)
Today, I will be explaining the concept of Engel curves. To understand this video, you must be aware about the ICC of the normal and inferior goods. Engel curve relates to the quantity of a good consumed with respect to an individual’s income. Engel curve is the term propounded by Eminent German Scholar Ernest Engel. In short, “An Engel ...
7.7K viewsJan 7, 2022
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