Various items or products that can serve the same purpose. At times these types of goods are so similar that increased demand for one of the goods will subsequently cause a decrease in demand for the other.
Related information about substitute goods:
- Substitute good - Wikipedia, the free encyclopedia
Substitute goods are goods which, as a result of changed conditions, may ... ex Classic examples of substitute goods include margarine and butter, tea and ...
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Substitute goods. Two (or more) products for which the demand schedules are related to each other in such a way that an increase in the price of one good ...
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Definition of substitute goods: Different goods that, at least partly, satisfy the same needs of the consumers and, therefore, can be used to replace one another.
- Substitute Definition | Investopedia
A product or service that satisfies the need of a consumer that another product or service fulfills. A substitute can be perfect or imperfect depending on whether ...
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Substitute goods are goods that can be used to satisfy the same needs, one in the place of another. The buyer carries out an actual and conscious process of ...
- What is 'substitute goods'
Substitute goods can be used in place of each other, so that as the cost of one rises, everything else the same, people will buy more of the other. For example ...
- AmosWEB is Economics: Encyclonomic WEB*pedia
In terms of demand, substitute goods are those that provide the same basic satisfaction of a want or need when consumed. In terms of supply, substitute goods ...
- What is substitute goods? definition and meaning - InvestorWords.com
Definition of substitute goods: Various items or products that can serve the same purpose. At times these types of goods are so similar that increased demand for ...