substitutability Definition
the ability of one thing to be replaced by another thing that is equivalent or performs the same function.
Using substitutability: Examples
Take a moment to familiarize yourself with how "substitutability" can be used in various situations through the following examples!
Example
The substitutability of different brands of painkillers depends on their active ingredients.
Example
The substitutability of labor and capital varies across industries.
Example
The substitutability of renewable energy sources for fossil fuels is a key factor in reducing carbon emissions.
substitutability Synonyms and Antonyms
Synonyms for substitutability
Phrases with substitutability
a situation where there are few or no alternatives that can replace a particular thing
Example
In some remote areas, there is low substitutability of imported goods, making them very expensive.
a method used to determine whether two products or services are interchangeable
Example
The substitutability test involves comparing the price, quality, and availability of two competing products.
a situation where there are many alternatives that can replace a particular thing
Example
In a competitive market, there is usually a high degree of substitutability of similar products.
Summary: substitutability in Brief
Substitutability [suhb-sti-too-tuh-bil-i-tee] refers to the ability of one thing to be replaced by another thing that is equivalent or performs the same function. It is often used to describe the interchangeability of products, services, or resources, such as 'The substitutability of different brands of painkillers depends on their active ingredients.' Other phrases include 'low substitutability,' 'substitutability test,' and 'high degree of substitutability.'
