What is the implication of an aging population on a country's economy?
Added by Brandi R.
Close
Step 1
Decreased labor force: As the population ages, the number of people in the working-age group decreases. This leads to a decline in the available labor force, which can result in labor shortages and reduced productivity. A smaller workforce means fewer people Show more…
Show all steps
Your feedback will help us improve your experience
Ayman Sherif and 101 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Demography can have important economic effects. The United States has an aging population. Explain one economic benefit and one economic cost of an aging population as well as of a population that is very young.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Watch the video solution with this free unlock.
EMAIL
PASSWORD