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 ?
According to the report, Growing health-consciousness is expected to drive the sugar substitutes market during the forecast period.
Substitute Operator Should Be Able To Set Days Substitutes Are Available To Work, Sites They Prefer To Work At, And Areas Of Expertise.
The following season, 2003/04, he also scored three times as a substitute.
While no state requires that a substitute be a certified teacher--and 25 states only require a high school diploma--many districts are demanding more rigorous qualifications, says Geoffrey Smith, director of STEDI, a national training institute for substitute teachers based at Utah State University.
These likely substitutes would also qualify for the Sec.
The company has introduced soy nuts seasoned with the substitute.
In 2010, Medtronic was the dominant player in the global bone graft substitutes market with a 44 per cent market share.
Browse Market Research Report on Tissue Engineered Skin Substitutes Market: http://www.
NEWHALL - Following a cost-cutting measure already enacted in some school districts in Santa Clarita, the Newhall school board voted Tuesday to reduce daily pay for substitute teachers by $5.
6, 1997, the IRS issued final regulations on the source (and in some cases, the character) of substitute payments received in body cross-border securities lending and sale-repurchase transactions.
The Internal Revenue Service issued an advance copy of revenue procedure 94-51 (1994-31 IRB 31) amending revenue procedure 94-34 (1994-18 IRB 19), which strictly limited the types of substitute tax returns that could be filed.