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 ?
Will cost cheaper than one unit of blood' The blood substitute can prove to be a boon for patients who face the problem of unavailability of blood.
In India, one unit of blood (350-400 cc) costs around Rs 500-800, while this blood substitute will cost approximately10-12 per cent less than that.
For a sample containing HBOC, the absorbance readings are offset because of the strong absorbance of the blood substitute at 415 nm, and a negative slope is observed during the incubation interval.
Several companies are nearing the finish line in the competition to be the first to put a polymerized-hemoglobin blood substitute on the market.
The second section contains discussions on future generations of blood substitutes, their prospects, and approaches to existing problems with these products.
Logan also outlined a simple method for breaking open red blood cells and separating the swine and human hemoglobins -- a crucial step toward producing a human blood substitute.
It may also lead to the use of farm animals as "biofactories" capable of producing large quantities of human hemoglobin that could serve as a cell-free blood substitute compatible with recipients of any blood type.
Scientists at the University of Glasgow, Scotland, report that perfluorodecalin -- a major ingredient in the only artificial blood substitute to undergo clinical trials in the United States -- and perhaps other fluorocarbons can react with organic molecules under surprisingly mild chemical conditions such as those found in biological systems.