As the number of elderly consumers in a market increases and the number of younger consumers declines, we would expect

Question

Quizplus · Accepted Answer

As the elderly population increases, the demand for medical services typically rises due to age-related health needs. Simultaneously, a decline in younger consumers may lead to a decrease in demand for products like blue jeans, which are more popular among younger demographics.

As the Number of Elderly Consumers in a Market Increases