As the Number of Elderly Consumers in a Market Increases

question 264

Multiple Choice

As the number of elderly consumers in a market increases and the number of younger consumers declines, we would expect

• A) an increase in the demand for medical services.
• B) a decrease in the demand for medical services.
• C) a decrease in the demand for blue jeans.
• D) both a and c.

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Definitions:

Federal Income Tax Withholding

Federal income tax withholding is the process by which an employer deducts a portion of an employee's income to pay directly to the federal government as a prepaid credit towards the employee’s annual tax liability.

Contingent Liabilities

Potential obligations that may arise from past events, depending on the outcome of future events.

IFRS

International Financial Reporting Standards, a set of global accounting guidelines that govern how companies prepare and disclose their financial statements.

GAAP

Generally Accepted Accounting Principles; the standard framework of guidelines for financial accounting used in any given jurisdiction.