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A good that replaces another demanded good is known as a substitute good. For example, if the price of coffee rises, consumers may switch to tea as a substitute, leading to increased demand for tea. Substitute goods fulfill similar needs or desires, allowing consumers to choose based on price or availability. This relationship can significantly impact market dynamics and pricing strategies.
What else can I help you with?
What is another word you can use to replace and?
The word and can be replaced by the ampersand (&) or by the phrase "as well as"; there is no single word that replaces it, however.
What type of word is another?
"Another" is an adjective used to indicate an additional item or person of the same kind. It can also function as a pronoun when it replaces a noun in a sentence. For example, in the phrase "I would like another," it refers to an additional item without specifying what it is.
What is another word for not?
good :)
What is another word for not that?
good :)
What is another word for not that bad?
good :)
Process in which one generation replaces another?
Reproduction.
Is there another word that replaces exploded?
exploded = irrupted
When is a price floor not binding?
the quantity of the good demanded with the price floor is less than the quantity demanded of the good without the price floor
If a 30 price increase for product A causes a 10 decrease in its quantity demanded but no change in the quantity demanded for product b. What is the cross price of these goods?
The cross-price elasticity of demand measures the responsiveness of the quantity demanded of one good when the price of another good changes. In this case, since the price increase of product A leads to a decrease in its quantity demanded but no change in the quantity demanded for product B, the cross-price elasticity is zero. This indicates that products A and B are independent of each other in terms of demand, meaning they are not substitutes or complements.
How does the demand curve for complementary goods illustrate the relationship between the quantity demanded of one good and the quantity demanded of its complementary good?
The demand curve for complementary goods shows that when the price of one good decreases, the quantity demanded for that good increases, leading to an increase in the quantity demanded for its complementary good as well. This is because consumers are more likely to buy both goods together when the price of one decreases.
What is the purpose of a demand schedule?
A demand schedule, in economics, is a table of the amount of a good demanded at a certain price. Generally the lower the price, the more of that good is demanded.
What the purpose of a demand schedule?
A demand schedule, in Economics, is a table of the amount of a good demanded at a certain price. Generally the lower the price, the more of that good is demanded.
What is name of a player who replaces another player during the game of soccer?
sub
What is the word used to describe a player who replaces another?
Substitute/Sub or Interchange
Why do your teeth removes?
It removes because the under of the tooth has an another tooth already.That's why your tooth replaces another tooth.
What Is a type of figurative language where one thing replaces something that is related to it?
This type of figurative language is called metonymy. This is when one thing replaces another that is closely related to it.
How long does a song stay on the top ten list?
Until another one replaces it.
