Engel curve - Revision history

Vipul at 20:01, 4 September 2013

2013-09-04T20:01:09Z

← Older revision		Revision as of 20:01, 4 September 2013
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	==Definition==		==Definition==

	The '''Engel curve''' (also called the ''real expenditure Engel curve''', to distinguish it from the [[budget share Engel curve]]) for a good, service, or commodity is defined with the following backdrop:		The '''Engel curve''' (also called the '''real expenditure Engel curve''', to distinguish it from the [[budget share Engel curve]]) for a good, service, or commodity is defined with the following backdrop:

	* The specific good, service, or commodity.		* The specific good, service, or commodity.

Vipul at 20:00, 4 September 2013

2013-09-04T20:00:45Z

← Older revision		Revision as of 20:00, 4 September 2013
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	~~{{income-quantity curve}}~~

	==Definition==		==Definition==

	The '''Engel curve''' for a good, service, or commodity is defined with the following backdrop:		The '''Engel curve''' (also called the ''real expenditure Engel curve''', to distinguish it from the [[budget share Engel curve]]) for a good, service, or commodity is defined with the following backdrop:

	* The specific good, service, or commodity.		* The specific good, service, or commodity.
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	* The vertical axis is the ''income'' axis, measuring the income of the economic actor within the time frame.		* The vertical axis is the ''income'' axis, measuring the income of the economic actor within the time frame.
	* The horizontal axis is the total expenditure of the economic actor within the time frame for the given income.		* The horizontal axis is the total expenditure of the economic actor within the time frame for the given income.

			Note that, scaling the horizontal axis by the reciprocal of the price of the good, we get an Engel curve where the horizontal axis is the total quantity of the good purchased/consumed.

Vipul at 19:59, 4 September 2013

2013-09-04T19:59:33Z

← Older revision		Revision as of 19:59, 4 September 2013
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	* The vertical axis is the ''income'' axis, measuring the income of the economic actor within the time frame.		* The vertical axis is the ''income'' axis, measuring the income of the economic actor within the time frame.
	* The horizontal axis is the ~~quantity demanded by~~ the economic actor within the time frame for the given income.		* The horizontal axis is the total expenditure of the economic actor within the time frame for the given income.

Vipul: Created page with "{{income-quantity curve}} ==Definition== The '''Engel curve''' for a good, service, or commodity is defined with the following backdrop: * The specific good, service, or commo..."

2010-09-12T00:24:49Z

Created page with "{{income-quantity curve}} ==Definition== The '''Engel curve''' for a good, service, or commodity is defined with the following backdrop: * The specific good, service, or commo..."

New page

{{income-quantity curve}}

==Definition==

The '''Engel curve''' for a good, service, or commodity is defined with the following backdrop:

* The specific good, service, or commodity.
* A unit for measuring the quantity of that commodity.
* An economic actor (individual or household).
* A time frame within which demand and income are measured.
* An economic backdrop that includes the unit price of the commodity and all other [[determinants of demand]] ''except'' the income of the economic actor.

The Engel curve is a curve drawn as follows:

* The vertical axis is the ''income'' axis, measuring the income of the economic actor within the time frame.
* The horizontal axis is the quantity demanded by the economic actor within the time frame for the given income.