The given chart delineates a breakdown of a typical American household’s outlay on various items in 2010 and 2014.
Overall, expenditure on all goods increased over the period, with the exception of clothes and books. It is also discernible that food consistently upheld its status of the highest spender among scrutinized categories.
In 2010, the figure for food was the most notable at approximately 3600 dollars, followed by that of clothes at 2500 dollars. While the expenditure on smartphones and toiletries displayed similar levels of roughly 2000 dollars, merely 1000 dollars was allocated to books on average, which was also the lowest spending point.
By 2014, spending on food had portrayed a rise to reach a peak of nearly 4500 dollars. The amount of money expended for smartphones had grown by the same degree to about 2600 dollars, which was the second-highest figure that year; meanwhile, toiletries’ experienced a slight uptick to achieve 2000 dollars in 2014. The typical American household’s clothes spending had not changed, placing it in the third position compared to others. In contrast, American households had spent less money on books, making this figure shrink by a half of its 2010 amount, declining to 500 dollars.