Which term refers to factors such as preferences, income, and expectations regarding future prices that influence demand?

The term that refers to factors such as preferences, income, and expectations regarding future prices influencing demand is known as "Determinants of Demand." These determinants are critical as they help explain how the quantity demanded of a good or service shifts in response to changes in these underlying conditions.

For instance, if consumer preferences change in favor of a product, this can increase demand. Similarly, an increase in consumer income typically leads to higher demand for normal goods because consumers have more purchasing power. Expectations regarding future prices also play a significant role; if consumers anticipate that prices will rise in the near future, they may choose to buy more now, thus increasing current demand.

Understanding these determinants is essential for analyzing consumer behavior and forecasting how shifts in the market may affect overall demand for various goods and services.