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Substitute good. In microeconomics, substitute goods are two goods that can be used for the same purpose by consumers. [1] That is, a consumer perceives both goods as similar or comparable, so that having more of one good causes the consumer to desire less of the other good. Contrary to complementary goods and independent goods, substitute ...
Definition. Substitutionary atonement, also called vicarious atonement, is the idea that Jesus died "for us". [1] There is also a less technical use of the term "substitution" in discussion about atonement when it is used in "the sense that [Jesus, through his death,] did for us that which we can never do for ourselves". [note 3] The English ...
Substitutes for leadership theory is a leadership theory first developed by Steven Kerr and John M. Jermier and published in Organizational Behavior and Human Performance in December 1978. [1] The theory states that different situational factors can enhance, neutralize, or substitute for leader behaviors [2] (Den Hartog
In economics, a complementary good is a good whose appeal increases with the popularity of its complement. [further explanation needed] Technically, it displays a negative cross elasticity of demand and that demand for it increases when the price of another good decreases. [1] If is a complement to , an increase in the price of will result in a ...
Ersatz is a German word meaning substitute or replacement. [2] Although it is used as an adjective in English, it is a noun in German. In German orthography noun phrases formed are usually represented as a single word, forming compound nouns such as Ersatzteile ("spare parts") or Ersatzspieler ("substitute player").
15 Milk Substitutes to Try. 1. Heavy Cream. Heavy cream is a good substitute for milk, but because it has a much higher fat content, you’ll want to dilute it first. To use it in a recipe ...
F–C7–F, F–F ♯ 7–F, B–F ♯ 7–B, then B–C7–B. In music theory, chord substitution is the technique of using a chord in place of another in a progression of chords, or a chord progression. Much of the European classical repertoire and the vast majority of blues, jazz and rock music songs are based on chord progressions.
In economics and particularly in consumer choice theory, the substitution effect is one component of the effect of a change in the price of a good upon the amount of that good demanded by a consumer, the other being the income effect. When a good's price increases, if hypothetically the same consumption bundle were to be retained, income would ...