substitute goods

Popular Terms
Different goods that, at least partly, satisfy the same needs of the consumers and, therefore, can be used to replace one another. Price of such goods shows positive cross-elasticity of demand. Thus, if the price of one good goes up the sales of the other rise, and vice versa. Also called substitutes.

Use 'substitute goods' in a Sentence

Jane purchases margarine instead of butter because it is an exaple substitute goods, meaning it is similar to butter yet costs less.
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We had a lot of substitute goods and that made me nervous and that made my father explain to me that it was okay.
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You should always know what you can possibly use as substitute goods in case of an emergency where you can't get your normal resource.
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