Description: (German Statistician and Economist Who Is Famous for the 'Engel Curve' and 'Engel’s Law')
Ernst Engel was a renowned German statistician and economist celebrated for his notable advancements in the field. He is best known for creating the Engel curve, depicting the correlation between income and expenditure patterns. Moreover, Engel is credited with formulating Engel's law, which highlights that as income increases, the percentage of income spent on food declines. His research and theories have significantly influenced the comprehension of consumer behavior and economic principles, establishing him as a highly regarded academic figure.