Substitution effect


 

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Substitution effect

That portion of the effect of price on quantity demanded that reflects the changed tradeoff between the good and other alternatives. Contrasts with income effect.



Similar Matches

No Substitution

No Substitution

Within the text on a proxy card are the words: "The shareholder appoints certain people (collectively, the proxy committee) with full power of substitution to vote the shares." If the security holder strikes out this phrase, the proxy cannot be voted if there is a change in the designated proxy committee.


Import substitution

Import substitution

A strategy for economic development that replaces imports with domestic production. It may be motivated by the infant industry argument, or simply by the desire to mimic the industrial structure of advanced countries. Contrasts with export promotion.


Same day substitution

Same day substitution

Offsetting changes in a margin account during the day that result in no overall change in the balance of the account.


Constant elasticity of substitution function

Constant elasticity of substitution function

See CES function


Import substitution development strategy

Import substitution development strategy

A development strategy followed by many Latin American countries and other LDCs that emphasize import substitution-accomplished through protectionism-as the route to economic growth.


Further Suggestions

Substitution swap
Asset substitution
Marginal rate of substitution
Elasticity of substitution


 
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