substitute products

any GOODS or SERVICES that are considered to be economically interchangeable by buyers. For example, if an increase in the price of coffee causes buyers to switch away from it and buy a greater quantity of tea, these two goods can be regarded as substitutes for one another.

The CROSS-ELASTICITY OF DEMAND between two products serves as a measure of the degree of substitutability between them; products that are close substitutes have a high cross-elasticity, while products that are poor substitutes have a low cross-elasticity See COMPLEMENTARY PRODUCTS.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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References in periodicals archive ?

Substitute products included the use of deferred variable annuities converted to annuitization.

Immediate variable annuity sales take off. (Life/Health)

Economic structure of the industry (ability of new companies to enter it; risks of substitute products and services; resource availability, including supplier dominance; customer dominance and competitiveness)

Disaggregated information: time to reconsider

However, availability of substitute products, such as egg white and fats containing trans-fatty acids (TFA), may hinder the growth of the market during the forecast period.

Instant Cake Emulsifier Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment; 201

Bonesupport provides innovative injectable bio-ceramic bone substitute products to treat bone voids caused by trauma, infection, disease or related surgery based on its unique CERAMENT platform.

Bonesupport reports first patient recruitment in study evaluating CERAMENT G and CERAMENT V in arthroplasty revisions of hip and knee

Ireland-based Mallinckrodt Pharmaceuticals, a speciality pharmaceuticals manufacturer, has signed a merger agreement with Stratatech, a privately held regenerative medicine company focused on the development of unique, proprietary skin substitute products, it was reported yesterday.

Mallinckrodt signs merger agreement with Stratatech

In this respect, it is also worth mentioning the first appearance of meat substitute products based on insect meat becoming available in Belgium.

Processed Meat and Seafood in Belgium - New Report Available

Israeli food producer Osem Investments (TLV:OSEM) said Tuesday it will take full control of vegetarian and meat substitute products maker Tivall after agreeing with its kibbutz owners to buy the remaining 42% of it for ILS468.5m (USD129m/EUR95m).

Israeli Osem to buy remaining 42% of Tivall for USD129m

The ratings reflect the company's 30-year experience, established position in the asbestos industry in eastern India, rising demand for asbestos sheets from rural market, diversified customer base, lack of cost effective substitute products and improvement in its financial position in fiscal 2009.

CARE affirms BBB/PR3 ratings on UAL Industries

MEPs insisted that legislative proposals be rapidly tabled in the following areas: the introduction of limit values for combustion installations, the application of mandatory anti-pollution measures at crematoria, a ban on primary mercury exports from 2010, the secure storage of surplus mercury, the control and processing of dental amalgam waste, limits on the use of mercury in dental amalgam (particularly since substitute products are available), a ban on the use of mercury in monitoring equipment where reliable alternative solutions exist.

HAZARDOUS PRODUCTS : BAN ON MERCURY EXPORTS SHOULD BE BROUGHT FORWARD

Regarding details, MEPs believe substitute products exist in certain cases where exemptions are nevertheless envisaged.

ENVIRONMENT: PARLIAMENT REPRIMANDS COMMISSION IN RESOLUTION ON HAZARDOUS SUBSTANCES