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.
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References in periodicals archive ?
3) the dissimilar taxation of the directly competitive or substitutable imported and domestic products is "applied .
The national treatment principle in rules and practices of GATT
In particular, the products are perfectly substitutable when [gamma] = [beta]; and are perfectly differentiated when [gamma] = 0.
Competition in multi-channel supply chains
The lowest percentage of undermatching was observed for the butter/margarine combination of substitutable products (41%).
Product substitutability and the matching law
Competition for light can, in principle, be treated in a similar way, because mixotrophic flagellates are able to use photosynthesis and bacterial ingestion as substitutable carbon and energy sources.
Laboratory experiments with a mixotrophic chrysophyte and obligately phagotrophic and phototrophic competitors
However, the court reached the conclusion that the drugs were de facto substitutable.
Sweden: The Swedish system of generic substitution, interchangeability between reference drugs and generics
The Novartis lawsuit against the FDA claims the agency did not follow its own regulations in designating SangStat's non-identical cyclosporine dosage form as directly substitutable for Neoral.
Novartis sues FDA alleging irregularity in approving generic cyclosporine, SangStat for patent infringement
While stock funds carry much investment risk, bond funds--particularly bond funds investing in government and high-rated corporate bonds--are quite substitutable for M2 deposits and have grown very rapidly the past two years.
Statement by Robert D. McTeer, Jr., President , Federal Reserve Bank of Dallas, before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, March 10, 1993
For this reason, the accounts manager, in concert with his technical and processing departments, is constantly suggesting and searching for substitutable ingredients to save customers money.
CM: manufacturing or service industry?
In spite of the demand from certain applications, DMT faces tough competition from rival substitutable products such as PTA.
Research and Markets: Dimethyl Terephthalate Market in Europe - Expected to Increase at the Rate of nearly five percent in the coming Years
The three-times-a-week injection is the substitutable generic version of Teva's Copaxone 40mg/mL, which had received approval from the US Food and Drug Administration (FDA) earlier this month.
Mylan, Synthon, receive favourable UK High Court decision regarding Teva Phamaceutical's Copaxone dispute
The move will allow Prasco to sell an AG version of Adderall XR Capsules, CII in the United States that is therapeutically equivalent and substitutable for prescriptions written for Adderall XR, a CNS stimulant that is indicated to treate attention deficit hyperactivity disorder (ADHD).
Israel,United States : Prasco Labs buys distribution rights for Teva's generic Adderall XR
Sandoz has launched Glatopa, the first substitutable generic version of Copaxone 20 mg, for the treatment of relapsing forms of multiple sclerosis.
Generic form of Copaxone 20 introduced

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