CAF-7 · Chapter 1 · Question 10 of 15
A life insurance company notices an increasing demand for pension planning products and retirement home financing. This trend is driven by a decrease in the national birth rate and longer life expectancies. Which element of the PESTEL framework does this trend belong to?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Social
Explanation
Birth rates, life expectancy, and an aging population are demographic shifts. Demographics are a primary component of the Social factors in a PESTEL analysis.
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