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Chapter 3: Q.40 (page 79)

How do you suppose the demographics of an aging population of 鈥淏aby Boomers鈥� in the United States will affect the demand for milk? Justify your answer.

Short Answer

Expert verified

Because the baby boomer group is aging and the population of the United States is rising, milk demand will move to the left.

Step by step solution

01

Definition

Demographics :

Demographics refers to the characteristics of a population, such as a gender, race, and age. Furthermore, demographic data is necessary for establishing the number of individuals employed, as well as birth and death rates. Different demographic traits exist in different locations, allowing the government to design regulations and markets that are appropriate for their operations.

02

Explanation

In the United States, the demographics of an aging population of "Baby Boomers" will alter milk demand in such a way that demand will decline. This is due to the fact that when baby boomers are young, they drink milk, and as they become older, their milk consumption declines. As the baby boomer group is aging and the population of the United States is rising, milk demand will move to the left.

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