What are substitute goods? Give two example
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An example of substitute goods are tea and coffee, these two goods satisfy the three conditions: tea and coffee have similar performance characteristics (they quench a thirst), they both have similar occasion for use (in the morning) and both are usually sold in the same geographic area (consumers can buy both at their ...
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The goods which we take in absence of main goods which gives exact satisfaction or less as the main goods
Explanation:
ex1. if we eat rice. for hunger u can take anything like chapathi roti. to satisfy ur hunger unless taking rice
ex2. u can use any other shampoo for headbath in substitute of ur usedones
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