Which of the following describes the substitution effect?
A. As the price of a good falls, people will substitute other products.
B. As the price of a good rises, people will substitute other products.
C. As demand rises, people will substitute other products.
D. As demand falls, people will substitute other products.

Respuesta :

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B. As the price of a good rises, people will substitute other products. For example :  If the price for an ingredient is raised they could choose to use a less expensive substitute.