Home The New Economy Definition of the Week:
Wednesday, June 4,2008
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Definition of the Week:
Engel’s Law
Engel’s Law:
People generally spend a smaller share of their budget on food as their income rises. As people get richer they can afford better-quality food, so their food spending may increase overall, but they can also afford other luxuries, which tend to take a larger percentage of their budget. Hence the share of food in total spending falls as incomes grow. (source: Economist.com)
People generally spend a smaller share of their budget on food as their income rises. As people get richer they can afford better-quality food, so their food spending may increase overall, but they can also afford other luxuries, which tend to take a larger percentage of their budget. Hence the share of food in total spending falls as incomes grow. (source: Economist.com)
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2008-11-21 7:00 pm
Kids & Family
For over 20 years, The Shangri-La Chinese Acrobats have been amazing audiences with their high-energy performances. They will astound the audience of the South Milwaukee Performing Arts Center. Under the direction of acrobatic legends, the Hai Family, the company flawlessly interprets the precision and grace of an art form honed by years of training and discipline; Chinese acrobatics. The performance will feature dazzling acrobatic displays, form
Location: South Milwaukee
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