That's right. The presence of alternatives or substitute goods is a moderating force on price increases. The classic example is what meat to buy for dinner: be

That's right. The presence of alternatives or substitute goods is a moderating force on price increases. The classic example is what meat to buy for dinner: beef has gotten expensive, so it's time to grab the chicken or pork this week. Your choice to choose an alternative to beef will help bring the price back down. We could take the example further to other people's choices, the butcher's response to reduced demand, etc, but we'll stop with: the economy is vastly complex, and all changes in conditions produce complex responses.