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 ?
In Denver in the 1990s, for example, substitutes were required to have a teaching credential--and today all of Colorado requires it.
The market for sugar substitutes is projected to reach USD 16.
One patient died before engineered skin substitutes were prepared, leaving 15 patients in whom 2,056 engineered skin substitute grafts were applied in 59 operations.
United States Tissue Engineered - Skin Substitutes Market Outlook to 2020
In a May 2006 article in The Seattle Times, teacher John Foley says, "I always tell my students to be nice and respectful to the substitute teacher, and they usually greet my directive with smiles.
Because both the substitute transportation and the substitute lodging would qualify, the court concluded that motor homes used by renters mostly for periods of less than 30 days are Sec.
One only needs to think of the number and types of books, print, television ads, and Web sites dealing with obesity and weight loss programs to understand the concept of substitute services.
The Institute estimates that from kindergarten to high school graduation, students spend a full year with substitutes.
This representation reverses the normative placed on substitutes (i.
The volume provides an in-depth discussion of the classes of substitutes, with special attention to issues involving both material regulation and standards development for fabrication and characterization.
If only there were substitutes that could fill some of blood's roles in the body, artificial substances that would be free of the supply constraints and contamination vulnerabilities of the real stuff.
The effects of timber harvest restrictions in federal and state forests on softwood lumber price, price stability, and product quality, combined with technological advances by producers of substitute materials, have contributed to the increased use of material substitutes in residential construction.