Chapter 7: Demand and Supply
"Grandma, Buy Me That"
Introduction
In this chapter, you learned
that demand is influenced by changes in the population. Did
you know that in a recent year new grandparents spent an average
of $505 on toys for each of their grandchildren—a 100
percent increase in what they demanded, or spent, per grandchild
in the previous decade? Assume you work for a manufacturer
of electronic toys and games. You want to sell to the "new"
grandparents—those ages 45-59—but you're not sure
how population changes in the future will affect this grandparent
market. You decide to check for information on the Internet.
Destination Title: U.S.
Census Bureau Population Projections
Note: Clicking on the link above will launch a new browser
window.
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Directions
Start at the Census Bureau Web site.
- In the Population Projections category,
click on National.
- Click on Summary Tables.
- Click on 4. (NP-T4) Projections.
These charts give projections of the total resident population
by 5-year age groups, race, and Hispanic origin. Review
the first table for the total population in each date range.
- Under (NP-T4), select the data for the
date range that includes the current year.
Analyze the chart, then answer the
following questions.
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