Difference between revisions of "Substitute goods"
Jump to navigation
Jump to search
(Blanked the page) |
|||
| 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 22:26, June 28, 2010
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.