Question

which of the following is not a determinant of demand?
a. population changes
b. price expectations
c. consumer preferences
d. changes in income levels
e. substitute goods

Explanation:

Determinants of demand include factors like population (A), price expectations (B), consumer preferences (C), and income (D) as they affect how much consumers want to buy. Substitute goods (E) relate to price changes of related goods (a movement along the demand curve or shift due to substitute price, but substitute goods themselves aren't a demand determinant—rather, the price of substitutes is. Wait, no—wait, determinants of demand are non - price factors. Wait, no: substitute goods' price is a determinant, but "substitute goods" as a category? Wait, no, let's recall: determinants of demand are: price of related goods (substitutes, complements), income, tastes/preferences, population, expectations. Wait, the options: A (population), B (price expectations), C (preferences), D (income) are all determinants. E: "Substitute goods"—the price of substitute goods is a determinant, but "substitute goods" as a thing isn't a determinant. Wait, maybe the question is about which is NOT a determinant. Wait, no—wait, maybe I made a mistake. Wait, the determinants of demand are: 1. Price of the good (movement, not determinant of shift), 2. Non - price determinants: income, tastes, population, expectations, price of related goods (substitutes, complements). So "substitute goods" as an option—maybe the question is which is not a determinant. Wait, no, the options: A is population (determinant), B price expectations (determinant), C consumer preferences (determinant), D income (determinant), E substitute goods. The price of substitute goods is a determinant, but "substitute goods" itself isn't a determinant. Wait, maybe the question has a typo, but among the options, E is the one that's not a determinant (since the others are non - price determinants or related to demand shifts). Wait, no—wait, maybe I'm wrong. Wait, let's check again. The determinants of demand (factors that shift the demand curve) are: income, tastes, population, expectations, price of related goods (substitutes, complements). So "substitute goods"—the price of substitute goods is a determinant, but the category "substitute goods" isn't. So E is not a determinant.

Answer:

E. Substitute goods