Final answer:
A group of individuals who are born during a particular time period and share a common cultural or social experience is known as a generation. This concept is crucial for understanding societal changes and planning for demographic shifts. The Baby Boom Generation is an example of a significant and influential demographic cohort that continues to impact various sectors of society as it ages.
Step-by-step explanation:
A group of individuals who are born during a particular time period, such as the baby boomers, is known as a generation. A generation, or demographic cohort, is composed of individuals who share a specific age bracket and experience societal events at a similar stage in life. This shared experience can influence the attitudes, behaviors, and trends within that group. The term often used to categorize such a group is age cohort but is more commonly referred to as a generation. For instance, the Baby Boom Generation is a well-known demographic cohort identified by a significant increase in births from 1946 to 1964.
These cohorts have significant implications for society as they affect cultural, economic, and policy planning. In the case of baby boomers, they have redefined societal norms for each stage in life, including what it means to be young, middle-aged, and elderly. As this large group ages, they become a substantial part of the population in the senior age brackets, requiring changes in healthcare, marketing, and retirement planning to accommodate their distinct needs and numbers.