Final answer:
Demand in economics is influenced by various factors including tastes, population, income, and prices of substitutes and complements.
Step-by-step explanation:
In economics, the subject you are referring to is called demand. Demand is the willingness and ability of consumers to purchase a particular good or service at a given price and time period. Several factors affect demand, including tastes and preferences, population, income, prices of substitutes, and prices of complements.
For example, if there is a taste shift towards greater popularity for a certain product, more people are likely to buy it, resulting in an increase in demand. Additionally, if income rises (for a normal good), consumers have more purchasing power and are more likely to buy the product. On the other hand, if the price of substitutes rises or the price of complements falls, consumers may shift their demand towards the original product.
Understanding these factors helps economists analyze and predict changes in consumer behavior and market demand.
Learn more about Demand in Economics