Top Definition
The Frito-Lay Effect describes the size of a bag of Frito-Lay chips going down. However, it can also relate to any type of food item decreasing in size. It has been happening in recent years and has been happening severely since the 2009 recession. It makes most people mad.
Yolanda:

What in the world is happening. A month ago these cheetos came with 4 oz, now they only come with 2.75 oz!

Wahid: The Frito-Lay Effect man, the Frito-Lay Effect.
by Aelm43 December 26, 2009
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