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.
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substitute

See swap.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
We need to be competitive not only against imported chicken but also against other protein substitutes.
A study on the meat and bone meal or PBM meal as protein substitutes of fishmeal in concentrated diets for Paralichthys olivaceus.
This allows manufacturers to extend cheese products by directly replacing protein quantities in the form of cheese or other dairy protein substitutes.
Vitaflo International makes popular protein substitutes easily consumed to suit the hectic lifestyles of youngsters and teenagers with metabolic diseases.