“The proportion of total expenditure incurred on food items declines as total expenditure goes on increasing” is
A. Marshall’s law
B. Adam Smith’s law
C. Engel’s law
D. Samuelson’s law
Answer:C
“The proportion of total expenditure incurred on food items declines as total expenditure goes on increasing” is
A. Marshall’s law B. Adam Smith’s law C. Engel’s law D. Samuelson’s law