Two goods are considered to be substitutes for one another, if your choice between the two goods depends on their relative prices. This is purely a matter of taste.

   Some people might consider aspartame (sometimes sold under the brand name Nutrasweet®) and sugar to be substitutes. Others, due to health concerns, might never consume aspartame under any circumstances. Some goods may be very close substitutes, such as different brands of white soda. The closer two goods are considered by most consumers, the more sensitive the demand for one will be to changes in the price of the other. If two goods are substitutes, and if the price of one of the goods changes, it will affect the demand for the other good.

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