What Is a Substitute? 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. Put simply, a substitute is a good that can be used in place of another. Substitutes play an important part in the marketplace and are
What Are Substitute Checks? Substitute checks are copies of checks used by banks in lieu of the original. This practice was made legal by the Check Clearing for the 21st Century Act in 2003, better known as the Check 21 Act. Provided that the copy includes both the front and the back of the original
What Is the Substitution Effect? The substitution effect is the decrease in sales for a product that can be attributed to consumers switching to cheaper alternatives when its price rises. A product may lose market share for many reasons, but the substitution effect is purely a reflection of frugality. If a brand raises its price
A subvented lease is a type of lease in which the entity offering the lease reduces the cost through some subsidy. Subvented leases are commonly offered in car leasing contracts. Key Takeaways A subvented lease offers a lessee the opportunity to rent an asset that has been made more affordable via a subsidy.A common marketing
What Is Succession Planning? The term succession planning refers to a business strategy companies use to pass leadership roles down to another employee or group of employees. Succession planning ensures that businesses continue to run smoothly and without interruption, after important people move on to new opportunities, retire, or pass away. It can also provide
What Is a Sudden Economic Stop? A sudden economic stop is an abrupt reduction in net capital flows into an economy, especially an emerging economy. Key Takeaways A sudden economic stop is an abrupt reduction of capital flows into a nation’s economy, which is often accompanied by economic recessions and market corrections.Sudden stops may also be
What Is Sudden Wealth Syndrome? Sudden wealth syndrome (SWS) is a type of distress that afflicts individuals who suddenly come into large sums of money. Becoming suddenly wealthy can cause people to make decisions they might not have otherwise made. Sudden wealth syndrome symptoms include feeling isolated from former friends, feeling guilty about their good fortune, and extreme fear of
What Is Sugar No.11? Sugar No.11 is a futures contract for the physical delivery of raw cane sugar. The Sugar No. 11 futures contract is considered the benchmark for trading raw sugar around the world. Sugar production is concentrated in tropical and subtropical areas, so the performance of Sugar No. 11 can also be used
What Is a Student Visa? A student visa is a special endorsement added to a government passport issued to students enrolled at qualified educational institutions. Student visas are non-immigrant visas that do not require the holder to obtain citizenship. Any prospective student seeking higher education in another country must obtain a student visa from that
What Is the Stuttgart Stock Exchange (STU)? The Stuttgart Stock Exchange, or Börse Stuttgart, is Germany’s second-largest securities market (after the Frankfurt Stock Exchange), handling around 40% of all securities trades in the country. Established in 1861, the Stuttgart Stock Exchange trades in equities, bonds, investment funds, and participation certificates. Key Takeaways The Stuttgart Stock
