Search results
We did not find results for: define substitute goods.
Check spelling or type a new query.
Yahoo Web Search
- Substitute good
Economics concept of goods considered interchangeable
In microeconomics, substitute goods are two goods that can be used for the same purpose by consumers. That is, a consumer perceives both goods as similar or comparable, so that having more of one good causes the consumer to desire less of the other good. Contrary to complementary goods and independent goods, substitute goods may replace each other in use due to changing economic conditions. Wikipedia
