Question

The textbook discusses several impacts of the aging population in terms of human resources management. What impact does the "graying of America" have on businesses in terms of their product or service offerings? What products and/or services might be negatively — or positively — affected by this demographic shift?

a) Increased demand for youth-oriented products/services
b) Decreased demand for healthcare products/services
c) Increased demand for elderly care products/services
d) No impact on product/service offerings

Answer 1

The 'graying of America' has both positive and negative impacts on businesses in terms of their product or service offerings. Certain products and services may experience increased demand, such as elderly care products and services, while there may be decreased demand for youth-oriented products and services. Thus (option b) is right answer.

Step-by-step explanation:

The 'graying of America' refers to the increasing percentage of the population over sixty-five years old. This demographic shift has significant impacts on businesses in terms of their product or service offerings.

Certain products and services may experience increased demand due to the aging population, such as elderly care products and services. This includes nursing homes, assisted living facilities, and healthcare services targeted towards the elderly.

On the other hand, there may be decreased demand for youth-oriented products and services. As the population gets older, there is less demand for products and services specifically designed for younger individuals.

Thus (option b) is right answer.