Based on the case study what is meant by an ‘ageing’ population? Examine some of the key ways in which an ageing population can affect the supply side of the economy. In a country of your own choice, identify some of the major social trends over the last decade. How are these trends reflected in changing patterns of consumption? Choose three countries for different continents. Produce data to show the age distribution of the population in each of the countries in a given year. Account for any differences in the age profile of the three countries and suggest ways in which these differences might affect their respective economies in both the short and the long term. Q2. CASE STUDYA shock to the system:For the most part changes in a firm's (or industry's or sector's) external environment tend to be relativelypredictable and this can aid business planning. Economic indicators, for example, usually signal the onsetof a recession (or recovery) well before it occurs and this provides businesses with time to consider notonly how they are likely to be affected by economic change, but also what steps they can take to minimiseany potential threat to the organisation (or maximize any opportunity). On occasions, however, the businessenvironment can change dramatically and unexpectedly for the worse, leaving some firms to face rapidlydeteriorating trading conditions often without any contingency plans in place.Such a situation occurred on Tuesday 11 September 2001 when terrorist attacks on the World Trade Centerand the US Department of Defense rapidly sent shock waves through the global economic system,engulfing a wide range of firms and industries in all countries. The most immediate and obviousmanifestation of the crisis was seen in the airline industry where the major airline operators suddenly foundpeople unwilling to fly, thereby significantly exacerbating the problems already being experienced as aresult of increased competition and recession in some of their markets. In the United States carriers suchas United, Delta and Continental announced tens of thousands of redundancies and further job losses wereannounced by British Airways, Virgin and Air Canada. Elsewhere in Europe both Swissair and Sabena wentinto receivership and other operators signalled a period of retrenchment.The knock-on effect of the reduction in air travel also impacted on two allied industries: aircraftmanufacturing and tourism. Again this found expression in falling demand and the inevitable loss of jobs.Companies such as Airbus Industrie, Boeing and Bombardier slimmed down their workforces and additionaljob losses occurred in supplier organisations including Rolls-Royce and in travel, tourism and alliedindustries such as hotels, catering and car hire. For a company such as Disney, for instance, the impact onvisitor numbers at its theme parks in America and Europe was immediately felt and numerous otherorganisations and holiday destinations rapidly experienced the effect of the decline in overseas tourists inthe immediate aftermath of the attack.While it was suggested at the time by a number of observers that some businesses might have been takingadvantage of the crisis to slim down their workforces, there seems ltle doubt that the attack had asignificant economic as well as human and psychological impact. Mercifully such shocks to the system tendto be few and far between and even when they occur some enterprising firms will find they provideunexpected business opportunities.

Question

Based on the case study what is meant by an ‘ageing’ population? Examine some of the key ways in which an ageing population can affect the supply side of the economy. In a country of your own choice, identify some of the major social trends over the last decade. How are these trends reflected in changing patterns of consumption?  Choose three countries for different continents. Produce data to show the age distribution of the population in each of the countries in a given year. Account for any differences in the age profile of the three countries and suggest ways in which these differences might affect their respective economies in both the short and the long term. Q2. CASE STUDYA shock to the system:For the most part changes in a firm's (or industry's or sector's) external environment tend to be relativelypredictable and this can aid business planning. Economic indicators, for example, usually signal the onsetof a recession (or recovery) well before it occurs and this provides businesses with time to consider notonly how they are likely to be affected by economic change, but also what steps they can take to minimiseany potential threat to the organisation (or maximize any opportunity). On occasions, however, the businessenvironment can change dramatically and unexpectedly for the worse, leaving some firms to face rapidlydeteriorating trading conditions often without any contingency plans in place.Such a situation occurred on Tuesday 11 September 2001 when terrorist attacks on the World Trade Centerand the US Department of Defense rapidly sent shock waves through the global economic system,engulfing a wide range of firms and industries in all countries. The most immediate and obviousmanifestation of the crisis was seen in the airline industry where the major airline operators suddenly foundpeople unwilling to fly, thereby significantly exacerbating the problems already being experienced as aresult of increased competition and recession in some of their markets. In the United States carriers suchas United, Delta and Continental announced tens of thousands of redundancies and further job losses wereannounced by British Airways, Virgin and Air Canada. Elsewhere in Europe both Swissair and Sabena wentinto receivership and other operators signalled a period of retrenchment.The knock-on effect of the reduction in air travel also impacted on two allied industries: aircraftmanufacturing and tourism. Again this found expression in falling demand and the inevitable loss of jobs.Companies such as Airbus Industrie, Boeing and Bombardier slimmed down their workforces and additionaljob losses occurred in supplier organisations including Rolls-Royce and in travel, tourism and alliedindustries such as hotels, catering and car hire. For a company such as Disney, for instance, the impact onvisitor numbers at its theme parks in America and Europe was immediately felt and numerous otherorganisations and holiday destinations rapidly experienced the effect of the decline in overseas tourists inthe immediate aftermath of the attack.While it was suggested at the time by a number of observers that some businesses might have been takingadvantage of the crisis to slim down their workforces, there seems ltle doubt that the attack had asignificant economic as well as human and psychological impact. Mercifully such shocks to the system tendto be few and far between and even when they occur some enterprising firms will find they provideunexpected business opportunities.

Accepted Answer

Ageing population means that the composition of population in a country comprises mostly the adults…