Answer : substitution effect
In economics, substitution effect refers to the process of replacing a good with a similar good because of a change in the price. This is based on the assumption that as prices change or increase, consumers would decide to look for cheaper items or the low-cost alternatives thus resulting to the change of merchandise or the products. The substitution effect may give an advantage especially to retailers however, in the general picture it provides a disadvantage as it will limit the choices.
