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Substitution effect |
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Substitution effectThat 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 MatchesNo SubstitutionNo SubstitutionWithin 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 substitutionImport substitutionA 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 substitutionSame day substitutionOffsetting changes in a margin account during the day that result in no overall change in the balance of the account. Constant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Import substitution development strategyImport substitution development strategyA 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 SuggestionsSubstitution swapAsset substitution Marginal rate of substitution Elasticity of substitution |
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