A good or service that a consumer regards as providing as much utility as its alternative. The character of being a substitute can be established by measuring the CROSS PRICE ELASTICITY OF DEMAND between the two goods (services). If that elasticity...

Element which can replace another element having the same function in certain contexts, e.g. pronoun for noun, e.g. The book/It’s on the...

Substitute may mean: In sport: A person who replaces an exiting competitor during the course of a game, as permitted by the laws of the game. Such replacements are generally made for tactical reasons, or when a player becomes tired or injured. Examples...