When the price of a product increases, a consumer is able to buy less of it with a given money income. This describes the:

When the price of a product increases, a consumer is able to buy less of it with a given money income. This describes the:


When the price of a product increases, a consumer is able to buy less of it with a given money income. This describes the: 

A. cost effect.
B. inflationary effect.
C. income effect.
D. substitution effect.