Daffodil International University

Faculties and Departments => Business & Entrepreneurship => Topic started by: Md. Alamgir Hossan on April 13, 2017, 04:50:07 PM

Title: Definition of substitute goods.
Post by: Md. Alamgir Hossan on April 13, 2017, 04:50:07 PM

•   Substitute goods are two goods that could be used for the same purpose.
•   If the price of one good increases, then demand for the substitute is likely to rise.
•   Therefore, substitutes have a positive cross elasticity of demand.