Examples of using Substitution effect in English and their translations into Russian
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Colloquial
Substitution effect.
Analysis of Commodity Substitution Effect.
The demand substitution effect is most clearly manifested in the healthy lifestyle macro trend strengthening.
This is the well known‘substitution effect̓.
The substitution effect of forest products and the promotion of wood could also be channelled through the organizations.
Analysis of Commodity Substitution Effect in Hong Kong's CPIs.
In the process we could identify significant substitution effects.
Determination of the substitution effect and income effect of Hicks and Slutsky.
Selection of linear demand function parameters for ensuring the correct substitution effect calculation.
There is often a substitution effect at both the consumption and the production levels, which is one reason why price increases spread to other crops.
This paper aims to analyse the change in expenditure weights and the commodity substitution effect between 2004/05-based and 2009/10-based CPIs.
This suggests that price substitution effects may be difficult to separate from other substitution effects such as changes in tastes and technology.
Natural gas prices show some correlation with crude oil butappear to be slightly less volatile because of the substitution effect between these fuels.
The effect of the relative price change is called the substitution effect, while the effect due to income having been freed up is called the income effect. .
On the other hand, the 2009/10-based CPIs generally showed smaller ratesof increase as compared with the old 2004/05-based indices, which is a feature mainly attributable to commodity substitution effect with the passage of time.
According to the decomposition presented in Annex 2, the commodity substitution effect was more pronounced in food, alcoholic drinks and tobacco, durable goods and miscellaneous goods.
If instead, a new budget line is found with the slope determined by the new prices but tangent to the indifference curve going through the old bundle, the difference between the new point of tangency andthe old bundle is the Hicks substitution effect.
In a similar manner to the way in which not all substitution effects are price induced, a consumer's utility may change for reasons of changes in taste and preference, among other things.
If income is altered in response to the price change such that a new budget line is drawn passing through the old consumption bundle but with the slope determined by the new prices and the consumer's optimal choice is on this budget line,the resulting change in consumption is called the Slutsky substitution effect.
There are likely to be a mixture of quality change,utility change and substitution effects involved which makes identifying the nature and magnitude of any quality change particularly difficult.
The price of rice has increased dramatically by 165 per cent during the year April 2007 to April 2008, even though rice is not used for biofuel production and there is no evidence in rice-growing countries that rice cropland has been shifted to produce biofuel feedstocks- butit is not clear to what extent there has been a demand substitution effect as a result of price rises for other cereals.
They may be expected to record larger increases than the corresponding CoL indexes because of the substitution effect, especially the further away the observation period is from the fixed base period.
The Working Party was informed that the substitution effect of wood for other non-renewable materials was not included in the"Maximizing carbon sequestration" scenario, due to the non-availability of models to fully take account of this issue.
It seems quite possible that this relatively large discrepancy could be due to the fact that the Silver andHeravi hedonic functional forms are only capable of providing a first order approximation to arbitrary hedonic preferences whereas the superlative indexes can provide a second order approximation and thus substitution effects are bigger for the superlative matched model price indexes.
In economics and particularly in consumer choice theory, the substitution effect is one component of the effect of a change in the price of a good upon the amount of that good demanded by a consumer, the other being the income effect. .
Called upon relevant organizations to support efforts to gather more information and conduct more independent market and economic studies of potential competition between wood andnon-wood substitutes, analysing the costs and benefits, including any substitution effects, and the overall impact on the management, conservation and sustainable development of all types of forests;
However, even though the substitution effect may be stronger at this level, without data on both prices and quantities it is necessary to place some assumptions on the degree of substitution in choosing the best formula.
This paper analyses the change in expenditure weights between the two base periods, i.e. 2009/10 and 2004/05,highlights the commodity substitution effect amongst related commodities/services and explains the factors underpinning the smaller year-on-year rate of changes in the new 2009/10-based CPIs series.
Even though income and substitution effects reduce demand for fuel when oil prices are high, the increase in the VAT revenue tends to overcompensate the losses due to lower demand, resulting in a higher tax intake.
Further, since the CPI has a number of levels andit can be observed that the substitution effect is likely to be stronger within the lower, elementary aggregate levels of the index where there are groupings of more similar products.