substitute goods
noun[plural]
ECONOMICS,COMMERCEukusproductsthat cansatisfysome of the samecustomerneedsas each other:
Butter andmargarineareclassicexamplesofsubstitutegoods.
Examplesofsubstitute goods
substitute goods
Substitutegoodsare goods which, as a result of changed conditions, may replace each other in use (or consumption).
From
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Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.There aresubstitutegoodstoo, which are in competition with each other.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Normally, as the price of goods rises, the substitution effect makes consumers purchase less of it, and more ofsubstitutegoods.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Substitutegoodsconsist of two items where a rise in the price of one causes an increase in demand for the other.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Substitutegoodsnot only occur on the consumer side of the market but also the producer side.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.A complete understanding of the economics underlying the loss of monopoly control over the market requires consideration of other factors of elasticity besidessubstitutegoods.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.Reservation prices vary for the buyer according to their disposable income, their desire for the good, and the prices of, and their information aboutsubstitutegoods.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.There is an upper limit to which the company can raise its prices before profits begin to erode because of the presence of viablesubstitutegoods.
FromThis example is from Wikipedia and may be reused under a CC BY-SA license.
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.They are going to be properly informed when they are going to be sentsubstitutegoods.
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