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.

An important source of public scrutiny is "watchdogs." these are: the efforts of a firm's competitors, including how often the competitors attack the firm's strategies. taxpayer-supported government agencies that limit a firm's ability to compete in foreign markets. companies designated by the government to only produce products that support the government defense program. socially conscious groups that make it their mission to measure the social responsibility levels of businesses, and provide consumers with their opinions about the level of corporate responsibility of various companies.