pmil7eAngljuancev pmil7eAngljuancev

24-12-2016
Business

Answered

When someone chooses to purchase one item over another because it is cheaper, this is known as the

ASubstitution Effect.
BIncome Effect.
CBudget Effect.
DVersion Effect.

Verified Answer :

hayszbb hayszbb

24-12-2016

C-The budget effect.

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syed514 syed514

25-12-2016

The answer would be Substitution Effect I think .The idea that as prices rise (or incomes decrease) consumers will replace more expensive items with less costly alternatives.

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