Substitutes are items or options that can replace one another in a specific context. For example, if you run out of sugar while baking, you might use honey or maple syrup as a substitute. These alternatives can provide similar flavors or functions, allowing you to continue with your recipe without needing the original ingredient. In economics, substitutes refer to products that can fulfill the same need for consumers. If the price of coffee rises, people might choose tea instead, as it serves a similar purpose. This behavior shows how consumers adjust their choices based on availability and cost, highlighting the importance of substitutes in everyday life.