Subject:The Principle of Substitution
By: Theodore Butler
Overview: We are all familiar with the concept of substitution. This principle holds that, given no dramatic fall-off in quality, it is rational to replace one item with another based upon a cost advantage. In other words, we all try to get the best bang for our buck. We substitute as retail consumers, constantly seeking out the best product or service. Whether shopping for big or small ticket items, we seek the best over-all value.
Link: http://news.silverseek.com/TedButler/1184699472.php
17th July 2007, 15:11
The Principle of Substitution
Linear Mode
