IB Economics | Non Price Determinants Of Demand: Income and Tastes

In this video I explain the first two non price determinants of demand: income and tastes. Non price determinants of demand are factors that cause shifts in the demand curve. For instance, when income rises, people can buy more normal goods.
I.e. the demand curve for normal goods shifts to the right.
On the opposite side, people stop consuming inferior goods when they have higher incomes. People consume inferior goods out of necessity, when they cannot afford anything better. Hence when income rises, the demand curve for inferior goods shifts to the left.
A similar logic applies to the tastes of people. If people start enjoying a certain product much more than before, the demand curve for that product shifts to the right. I.e. they are willing to buy more of that good at a given price.