Economics A-Level
Substitute goods
What Substitute goods means in Economics A-Level, as defined for AQA.
Definition of Substitute goods
Check what you remember
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Reference: AQA
Goods for which cross elasticity of demand is positive, as a rise in the price of one increases demand for the other.
Topics that use Substitute goods
- Price, income and cross elasticities of demand (AQA A-Level)
Related terms
- Cross Elasticity of Demand (XED)
- Income Elasticity of Demand (YED)
- Price Elasticity of Demand (PED)
- Revenue maximisation
- Business decision-making
- Complementary goods
- Consumer expenditure
- Cross elasticity of demand
Using Substitute goods in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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