What are determinants other than price that affect demand called?

Determinants other than price that affect demand are known as nonprice determinants. These factors can influence consumers' willingness and ability to purchase a good or service, shifting the demand curve to the right or left. Common nonprice determinants include consumer preferences, income levels, prices of related goods (substitutes and complements), expectations about future prices, and demographic changes.

Understanding these factors is crucial because they highlight that demand does not solely depend on price changes. For example, if a new health trend increases the popularity of a certain food, demand for that food may rise even if its price remains unchanged. Recognizing nonprice determinants helps analyze various market conditions and consumer behavior effectively.