what are the determinants of demand

The determinants of demand are factors that influence the quantity of a product or service that consumers are willing and able to buy at a given price. The five main determinants of demand are consumer income, consumer tastes and preferences, the price of substitute goods, the price of complementary goods, and the number of buyers. Changes in these determinants will shift the demand curve. For example, if consumer income increases, then demand will increase because people have more money and are willing to spend more. Other determinants of demand include consumer future expectations and changes in the price of other outputs.