Economics Principles and Practices
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Chapter 4: Demand
"Change in Demand"

Introduction
In this chapter you learned that demand is the desire, ability, and willingness to buy a product. Changes in demand can occur because of changes in consumer income, in consumer taste, and in the prices of related products. An increase or a decrease in the number of buyers for a product or service will also change demand.

Destination Title: The Census Bureau

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Directions
Start at the U.S. Census Bureau Web site.

  • Under "Subjects A to Z", click on the letter "I".
  • Scroll down to International Data Base (IDB) and click on it.
  • Then click on Population Pyramids.
  • Scroll down the list of countries and select one.
  • Click on Select Years, select a Graph Size, then click on Submit Query.
  • Enter the current year, then Submit Query.
  • Print graph.
  • Go back, click on Select Years again and enter the year that is 10 years in the future.

Analyze the graphs, then answer the following questions.

1. Is the population between the ages of 0 and 4 expected to increase or decrease?


2. Is the population of people over the age of 70 expected to increase or decrease?


3. Do you forecast an increase or a decrease in demand for baby diapers? Explain your reasoning.


4. Do you forecast an increase or a decrease in demand for retirement homes? Explain your reasoning.


 


 
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