Which of the following is NOT considered a demand shifter?

The correct answer is based on the concept of demand and its determinants. Demand shifters are factors that can cause the demand curve to shift left or right, indicating a change in the quantity demanded at various price levels.

Consumer income significantly affects demand because an increase in income typically leads to an increase in demand for normal goods. Similarly, expectations of buyers can shift demand; if consumers expect prices to rise in the future, they may buy more now, shifting current demand to the right. Likewise, related goods—such as substitutes and complements—also influence demand. For instance, if the price of a substitute falls, consumers may buy less of the original product, thereby reducing its demand.

In contrast, the number of sellers is a determinant of supply, not demand. An increase in the number of sellers in a market typically leads to more competition, which can affect supply and potentially prices but does not directly influence the demand for goods or services. Therefore, identifying the number of sellers as not a demand shifter is accurate.