Maria purchases a premium brand of coffee at the grocery store for $8. Which would be considered a substitute good? a coffee pot a bottle of coffee creamer a lower-priced brand of coffee a pound of sugar

Question

Barton

Social Studies

10 July, 16:10

Maria purchases a premium brand of coffee at the grocery store for $8. Which would be considered a substitute good? a coffee pot a bottle of coffee creamer a lower-priced brand of coffee a pound of sugar

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Answers (2)

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Tyshawn Ochoa · Answer 1

The answer is a lower-priced brand of coffee

a substitute goods is the type of goods that customers could use as a replacement for other similar products.

In this particular case, if the customers do not have enough purchasing power to buy the expensive coffee, they could replace the choice with the cheaper one that exist within their price range.

Milton Haas · Answer 2

A substitute product is anything that can replace that one specific product. In other sense, the product and its substitute has the same purpose. In this case the substitute product is the lower priced brand of coffee.

Answer:

a lower-priced brand of coffee