increase or decrease in people wanting to but things in the market.
1.2 Tastes and Preferences
what is in fashion at the time, fads, or stores stop selling things because of the change in season
A rise or fall in income that causes consumers to buy either normal goods or inferior goods. Normal goods are any name brand good and inferior goods are any off-brand goods.
1.4 Expectations of Buyers
what consumers think will happen to goods because of outside services
1.5 Price of Related Goods
Prices of substitutes and compliments cause changes in demand. A substitute is a similar good to the product that is being produced. It competes for more consumers with the product. A compliment is something you buy along with the product. They come hand-in-hand normally, like peanut butter and jelly.
2.1 Number of Sellers
the amount of businesses that provide a product to the market
2.2 Prices of Inputs
includes everything from labor to resources to cost of shipping
new inventions make production easier
2.4 Taxes and Subsidies
Taxes make supply decrease and subsidies make supply increase. Taxes decrease supply because it costs the company more to produce the product. Subsidies increase supply because the government gives money to the company in order to make cost of production less.
2.5 Price of Interchangeable Goods
sometimes it is cheaper to produce another product than it is to produce the one that you currently are producing