Karlee needed to pick up some toothpaste from the store.She was surprised to find that the store was out of her usual brand,Crest.Rather than go to another store,she decided to buy a tube of Colgate instead.In this example,Colgate represents
A)an unsought good.
B)a substitute product.
C)lateral competition.
D)indirect competition.
E)a disposable product.

Question

Quizplus · Accepted Answer

Colgate is a substitute product for Crest, which means that it serves the same purpose and can be used instead of the usual brand.

Karlee Needed to Pick Up Some Toothpaste from the Store