<P> A substitute goods is one goods that can be used instead of another . In consumer theory , substitute goods or substitutes are products that a consumer perceives as similar or comparable , so that having more of one product makes them desire less of the other product . Formally , X and Y are substitutes if , when the price of X rises , the demand for Y rises . </P>
<P> A substitute goods is one goods that can be used instead of another . In consumer theory , substitute goods or substitutes are products that a consumer perceives as similar or comparable , so that having more of one product makes them desire less of the other product . Formally , X and Y are substitutes if , when the price of X rises , the demand for Y rises . </P>
when are two goods said to be substitutes of each other
when are two goods said to be substitutes of each other
if , when the price of X rises , the demand for Y rises
if , when the price of X rises , the demand for Y rises