substitution effect — ➔ effect * * * substitution effect UK US noun [S] ECONOMICS, COMMERCE ► the effect of a change in the price of a product or service, which encourages customers to buy another product or use another service instead … Financial and business terms
substitution effect — /ˌsʌbstɪ tju:ʃ(ə)n ɪˌfekt/ noun the extent to which consumers will change from one product to another when the price of the product rises … Marketing dictionary in english
effect — ▪ I. effect ef‧fect 1 [ɪˈfekt] noun 1. [countable, uncountable] the way in which an action, event, or person changes someone or something: • Inflation is having a disastrous effect on the economy. demonˈstration efˌfect [singular] … Financial and business terms
Substitution bias — describes a bias in economics index numbers arising from tendency to purchase inexpensive alternatives for expensive items when prices change.Substitution bias occurs when two or more items experience a change of price relative to each other.… … Wikipedia
substitution — [sub΄stə to͞o′shən, sub΄stətyo͞o′shən] n. the substituting of one person or thing for another substitutional adj. substitutionary * * * sub·sti·tu·tion (sŭb stĭ to͞oʹshən, tyo͞oʹ ) n. 1. a. The act or an instance of substituting. b. The state of… … Universalium
Substitution model — A substitution model describes the process from which a sequence of characters of a fixed size from some alphabet changes into another set of traits. For example, in cladistics, each position in the sequence might correspond to a property of a… … Wikipedia
substitution by will — The effect of a clause in a will whereby the testator provides for the replacement of the beneficiary of a particular bequest by another person, or the replacement of a bequest to a designated beneficiary by another bequest to or in favor of the… … Ballentine's law dictionary
Substitution box — In cryptography, a substitution box (or S box) is a basic component of symmetric key algorithms. In block ciphers, they are typically used to obscure the relationship between the plaintext and the ciphertext mdash; Shannon s property of confusion … Wikipedia
substitution therapy — treatment by providing a less harmful alternative to a drug or remedy that a patient has been receiving. It is used when the patient has become addicted to a drug or is placing too much reliance upon a particular remedy. The patient is weaned off … Medical dictionary
substitution therapy — treatment by providing a less harmful alternative to a drug or remedy that a patient has been receiving. It is used when the patient has become addicted to a drug or is placing too much reliance upon a particular remedy. The patient is weaned off … The new mediacal dictionary
