Which describe the substitution effect

The substitution effect is the decrease in sales for a product that can be attributed to consumers switching to cheaper alternatives when its price rises. ... If a brand raises its price, some consumers will select a cheaper alternative. If beef prices rise, many consumers will eat more chicken.

recent improvements in technology/telecommunication/internet have increased the pace of globalization.

explanation:

recent improvements in technology have enhanced the pace of globalization. it is not difficult to recognize that technology has created the human race one big issue. there are several aspects to technology but they all serve to meet us the further. i can beat and be friends with a fellow, thousands of miles away. technology has also bridged the knowledge gap and has presented for the ready transfer of ideas and values.

answer; product market;