Economics: Principles and Practices © 2008

"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.