Difference between revisions of "Substitute goods"

@@ Line 1: / Line 1: @@
-'''Substitute goods''' are commodities that are similar enough that an increase in one price of one good (e.g., chewing gum) causes consumers to buy a similar, less expensive good (e.g., a candy bar).  Other examples of substitute goods are turkey and chicken, broccoli and spinach, and blueberries and raspberries.
-The opposite of substitute goods are [[complementary goods]].
-[[Category:Free market economics]]

Revision as of 21:07, August 30, 2007