The impact of age determined needs on demand

Abstract

One of the most frequently discussed issues of today's economy is the impact of ageing population on economic activity. The prevailing view is focused on problems coming from changing share of aged people on total population. The paper is aimed to analyze "new" specific needs of elderly people and their income possibilities not as a threat, but as an opportunity for economic growth and prosperity. In this sense it is important to show how the orientation of the economy is changing according to changes in population age and how to exploit those new factors for economic development. This topic is discussed from microeconomic point of view from the side of consumers and business. This can be inspiring for economic policy makers.