Consuming more of a good that has become cheaper in place of a good that has become relatively more expensive is the:

A) income effect.
B) substitution effect.
C) budget constraint.
D) inferior effect.

Substitution Effect

Variations in consumption habits influenced by the change in prices of goods in comparison to each other, leading to a preference shift among consumers from one good to another.

Cheaper

Describes goods or services being offered at a low price, especially in relation to comparable items.

More Expensive

Refers to items or services that have a higher cost or price in comparison to others.