Substitute Goods and Services

Substitute Goods and Services

Competence
The trainee should have the ability to identify substitute goods and services in a supply market.

Chapter Structure

• Meaning of substitute goods and services
• Impact of substitute goods and services in the supply market.
• Benefits of researching the market for substitute goods and services
• Review Questions

Further Reading

Milgrom, P., & Strulovici, B. (2009). Substitute goods, auctions, and equilibrium. Journal of Economic theory, 144(1), 212-247.

Hoag, A. J., & Hoag, J. H. (2006). Introductory economics. Hackensack (N.J.: World Scientific.

Lindeman, J. B. (2002). Microeconomics. Hauppauge, NY: Barron’s. Walter, N. (1998). Microeconomic Theory. The Dryden Press.