Question

When prices increase, buyers are encouraged to look for _____,. Which often causes the demand for the original good to decrease and can cause prices to low

Answer 1

When prices increase, buyers are encouraged to look for **substitutes**. This often causes the demand for the original good to decrease, which can lead to a reduction in prices. Substitutes are alternative products that can fulfill the same need or want, and as consumers shift their purchases towards these alternatives, the demand for the original good diminishes.