Question

define substitute goods
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Answer 1

Answer:

A substitute goods,economics and consumer theory refers to a product

or service that consumers see as essentially as the same or similar enough to another product.put simply,a subsititue is a

good that can be used in a place of another

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Explanation:

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Answer 2

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☛:-define substitute goods.

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In Economics groups are divided in two terms :-

1. Substitute goods
2. complementary goods.

SUBSTITUTE GOODS:-

In Economics “substitute-goods” refers all those goods which satisfy the same type of demand and can be used in place of one to another, there is a direct relationship between the demand for a good and the price of its substitute

Examples of some substitute goods:-

tea and coffee, jeans and trousers, Coke and Pepsi ,Colgate and Pepsodent etc.