What is meant by substitutability?
Noun. 1. substitutability – exchangeability by virtue of being replaceable. commutability, replaceability. exchangeability, fungibility, interchangeability, interchangeableness – the quality of being capable of exchange or interchange.
What is product substitutability?
Many product-focused companies think the key to success is launching new, innovative products. Such a situation is an example of product substitutability. Two products that can be used interchangeably are said to be “substitutes.”
What is substitutability in economics?
Substitutability refers to the ability of goods or services to be replaced by another good or service in use or consumption. In economics, substitute goods have positive cross elasticity of demand.
What is substitutability in Java?
The inheritance concept used for the number of purposes in the java programming language. One of the main purposes is substitutability. The substitutability means that when a child class acquires properties from its parent class, the object of the parent class may be substituted with the child class object.
What does substitutability mean in economics?
A substitute, or substitutable good, in economics and consumer theory refers to a product or service that consumers see as essentially the same or similar-enough to another product. They provide more choices for consumers, who are then better able to satisfy their needs.
What does substitution mean in the Bible?
in older writings, called forensic theory) is a theory of the atonement within Christian theology, which argues that Christ, by his own sacrificial choice, was punished (penalized) in the place of sinners (substitution), thus satisfying the demands of justice so God can justly forgive sin.
What is a substitution in TLE?
Substitution, as defined in Merriam dictionary, is the act of replacing from one thing with another.