| 单词 | Engel curve |
| 释义 | Engel curve A curve showing the relation between income level and spending on the consumption of some good, at a given price. The Engel curve for a good with unit income elasticity is a ray through the origin; with income on the horizontal axis and consumption on the vertical, the Engel curve for a necessity with less than unit income elasticity is flatter than a ray through the origin; and that for a luxury with more than unit income elasticity is steeper. The horizontal axis shows a consumer's total income; the vertical axis shows quantity of good X consumed at a given price. A shows initial consumption. OAB is a ray through the origin. AC shows the quantity consumed as income rises for a luxury: AC is steeper than OAB. Consumption of X rises faster than total spending. AD shows a necessity: AD is flatter than OAB. Consumption of X rises with total spending, but not as fast. AE shows an inferior good: consumption of X falls as total spending rises. |
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