Unit 1: How much of our spending goes on food?

Food and the proportion of income spent on it is a common theme in IGCSE Economics often showing up in the multiple choice paper.

Generally speaking the lower your income the higher the proportion of your income is spent on food. Below is a great infographic looking at the percentage of people’s total expenditures spent on food in the countries of the world.

Unsurprisingly, the more developed the country, a smaller proportion of their income is spent on food.