Answered

Which of the following is the impact of more older people in the population:
The quantity demanded of medicine increases.
O The demand for medicine shifts right.
O The price of medicine decreases.
O The supply of medicine shifts right.

Verified Answer :

GinnyAnswer

Final answer:

An aging population leads to an increase in both the quantity demanded and the demand for medicine.


Explanation:

The impact of more older people in the population on the demand for medicine is that:

  • The quantity demanded of medicine increases: As the population ages, there is a higher demand for healthcare services, including medicine.
  • The demand for medicine shifts right: With more elderly individuals requiring medication, the demand curve for medicine shifts to the right.

Therefore, an aging population leads to an increase in both the quantity demanded and the demand for medicine.


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