The chart below gives information about how families in one country spent their weekly income in 1968 and in 2018.

The chart below gives information about how families in one country spent their weekly income in 1968 and in 2018.
The bar chart shows the weekly income spending distribution by families in one country between 1968 to 2018. The spending is presented percentage-wise for eight categories.
According to
the data, the highest excerpt of the earnings was spent on food in both of the years. In comparison, the amount of money paid for fuel and power was the lowest. The spending for food, housing, clothing, and footwear, including personal goods held a bigger fragment in 1968 compared to 2018
whereas
the other categories were in the opposite condition, except for household equipment which
in particular
didn't experience any rate change. Families were spending 35% of their salary on food in 1968. By 2018, the number dropped by more than half and only accounted for less than 20%.
Similarly
, compensation spending for clothing and footwear (10%) was
also
chopped into half (only 5%) in 2018. The condition is
in contrast
to the fraction of everyday money paid for housing which almost doubled from 10% to a little below 20% in 2018. The spending on leisure, the third highest ratio in 1968, skyrocketed significantly from just about one-tenth to more than 20% in the next fifty years.
Moreover
, weekly spending for household equipment, personal goods, and transport was in the same allocation in 1968, still below 10% but still lower than the spending for leisure. Despite the money paid by families for household goods maintained, the percentage for personal property decreased to less than 5% and the quantity for transport increased to nearly 15% in 2018.
Lastly
, the fuel and power part shifted from a little above 5% in 1968 to slightly below the same number in 2018.
Submitted by pramestime on

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Topic Vocabulary:
  • Weekly income
  • Expenditure
  • Consumption patterns
  • Cost of living
  • Discretionary spending
  • Inflation
  • Economic indicators
  • Demographics
  • Socio-economic factors
  • Technology advancements
  • Government policies
  • Consumerism
  • Lifestyle changes
  • Fiscal habits
  • Budget allocation
  • Financial priorities
  • Societal trends
  • Purchasing power
  • Income distribution
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