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Adjective: substitutable  'súb-sti,t(y)oo-tu-bul
  1. (of words) interchangeable in a given context without changing the import of the expression
    "In this sentence, 'happy' and 'joyful' are substitutable without altering the meaning"
     
  2. Capable of being exchanged for another or for something else that is equivalent
    "The recipe called for substitutable ingredients to accommodate dietary restrictions";
    - commutable

See also: exchangeable, synonymous