Demographic factors Flashcards
What factors make up a demographic?
size of population, age, ethnicity, size of household, migration patterns.
How does an increasing population impact business activity?
More people, more spending, more demand, growth and more imports,
How does an ageing population impact business activity?
Older population means more demand for public services i.e. NHS therefore more staffing and funding needed.
How does a diverse ethnic pattern impact business activity?
More culturally required goods so businesses need a wider product range which can increase costs.
How does a decreasing household size impact business activity?
More houses and demand so businesses in housing sector thrive.
How does migration impact on business activity?
Demand for suburb houses and increasing output from a skilled workforce that move to the area.
