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en:substitute-goods-examples [2018/09/10 14:18] federico created |
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- | **Substitute Goods** are those goods that can be used to satisfy the same necessity. Substitute Goods have a positive cross elasticity of demand. That is, when the price of one good increases, the quantity demanded of the other good increases, because the user can **substitute** one good for another. | + | ====== Examples of Substitute Goods ====== |
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+ | **[[Substitute Goods]]** are those goods that can be used to satisfy the same necessity. Substitute Goods have a positive cross elasticity of demand. That is, when the price of one good increases, the quantity demanded of the other good increases, because the user can **substitute** one good for another. | ||
Complementary goods, in contrast, have a negative cross elasticity of demand. | Complementary goods, in contrast, have a negative cross elasticity of demand. | ||
- | Examples of substitute goods are: | + | Examples of substitute goods are (more than 10 examples): |
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+ | * Tea and coffee | ||
+ | * Bus, taxi and car | ||
+ | * Bananas and Apples and Oranges | ||
+ | * Airplane and train | ||
+ | * Amazon Kindle books and paper books | ||
+ | * Butter and margarine | ||
+ | * Beer and Wine | ||
+ | * McDonald's and Burger King. | ||
+ | * Starbucks vs Dunkin'Donuts | ||
+ | * Starbucks Blonde Roast Coffee and Starbucks Medium Roast Coffee | ||
+ | * Bing Search and Google Search | ||
+ | * Electric cars and gas cars | ||
+ | * Private schools and public schools | ||
+ | * Coca Cola and Pepsi | ||
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+ | **Graphical Analysis of Substitute Goods:** | ||
- | - Tea and coffee | + | {{:en:subsitute-goods-example.png?nolink|}} |
- | - Bus, taxi and car | + | |
- | - Bananas and Apples and Oranges | + | |
- | - Airplane and train | + | |
- | - Amazon Kindle books and paper books | + | |
- | - Butter and margarine | + | |
- | - Beer and Wine | + | |
- | - McDonald's and Burger King. | + | |
- | - Starbucks vs Dunkin'Donuts | + | |
- | - Starbucks Blonde Roast Coffee and Starbucks Medium Roast Coffee | + | |
- | - Bing Search and Google Search | + | |
- | - Electric cars and gas cars | + | |
- | - Private schools and public schools | + | |
- | - Coca Cola and Pepsi | + | |