The factors that shift demand curves are called determinants of demand.
The factors that actually shift the demand curves are sometimes called determinants of demand.
These determinants include:
- Income - as income increases, demand for most goods and services typically increases
- Price of related goods - changes in the price of substitutes or complements can affect demand
- Tastes and preferences - changes in consumer preferences can lead to shifts in demand
- Population - an increase in population can lead to an increase in demand for certain goods and services
- Expectations - changes in future expectations about prices or income can affect current demand
- Government policies and regulations - changes in taxes, subsidies, or regulations can impact demand for certain goods and services