substitute

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Substitute

A good or service that satisfies a consumer's needs or desires just as well or almost as well as a similar good or service. A common type of substitute is an off-brand product; for example, a grocery store may sell its own peanut butter to compete with the on-brand peanut butter it also sells. Often, though not always, the price of a substitute is lower than that of the original product, but they follow generally the same trends. For example, if demand for the on-brand peanut butter rises, its price increases, but so does the price of the off-brand peanut butter, because consumers are willing to pay more for peanut butter generally, but are still looking for a bargain.

substitute

See swap.
References in periodicals archive ?
3) the dissimilar taxation of the directly competitive or substitutable imported and domestic products is "applied .
Moreover, Lee and Staelin (2000) show that a linear demand function involving substitutable products is indeed consistent with reasonable buyer behavior and market characteristics.
The lowest percentage of undermatching was observed for the butter/margarine combination of substitutable products (41%).
PSX2005, a directly substitutable generic version of a leading ICS/long-acting beta 2 agonist (LABA) combination in development for asthma and COPD in pMDI,
As further statutory price cuts and expanded and accelerated price disclosure is applied to substitutable medicines by the Australian Pharmaceutical Benefits Scheme (PBS), downward pricing pressures will affect some industry sectors more than others.
The advance payment will be conditioned by the provision of a guarantee on first demand substitutable by a joint and several guarantee for 100% of the advance (in accordance with art.
It is one of the great misnomers that tap water and bottled water are substitutable.
Despite demand from certain applications, DMT faces tough competition from rival substitutable products such as PTA.
As such, Envarsus is NOT interchangeable or substitutable with other tacrolimus formulations.
Ursodiol Tablets 500mg and Ursodiol Tablets 250mg are AB-rated, therapeutically equivalent and substitutable for the brand URSO Forte Scored and URSO 250( )respectively.
Deregulation and the proliferation of new, highly substitutable claims also have reduced the effect of credit rationing as a channel for monetary policy.
Fluticasone Propionate Nasal Spray is AB-rated, therapeutically equivalent and substitutable for the brand FLONASE Nasal Spray.