Which of the following influences the number of buyers in a market?

The number of buyers in a market is significantly influenced by consumer preferences and demographics. Consumer preferences dictate what products or services individuals desire, which directly affects their willingness to purchase. For instance, if a particular product aligns with current trends or meets the needs of a specific demographic, more buyers are likely to enter the market to acquire it.

Demographics, including factors like age, income level, education, and cultural background, shape the buying behavior and preferences of a population. A market that attracts a younger audience might see a different set of buyers compared to a market aimed at older consumers.

In contrast, while cost of production standards and government regulations can impact how products are priced and sold, they do not directly influence the number of buyers. The price of substitutes can impact demand for a specific product but does not increase or decrease the actual number of potential buyers in the market. Therefore, consumer preferences and demographic factors are crucial for understanding the dynamics of buyer behavior in a market context.